Walk into Horizon Federal Credit Union at 1007 E. Third St., Williamsport, and it's difficult to miss the signs touting new banking accounts.
Kasasa may sound like a strange, even magical concept to some, but officials say it's loaded with customer-friendly incentives that also help the bank.
"It's a new way for members to get rewarded for what they do," said Horizon Federal Credit Union CEO Traci Donahue.
Three checking accounts and a savings account offered under Kasasa comprise the principal components of the program.
The accounts can be opened at no cost and no minimum balances are required to take advantage of rewards.
"The rewards are for things people do every day," said marketing/communications coordinator Judy Harris.
With a location also at 217 W. Bald Eagle St., Lock Haven, Kasasa products are open to anyone who lives, works, attends school or worships in Lycoming or Clinton counties.
The products are Kasasa Cash, Kasasa Cash Back, Kasasa Tunes, and Kasasa Saver.
With Kasasa Cash, customers earn a high 2 percent annual yield and up to $20 in refunds on ATM fees.
Kasasa Cash Back can mean earnings of 2 percent cash back on daily check purchases, plus $20 in refunds on ATM fees each month.
Kasasa Tunes allows customers to receive up to $5 in refunds on iTunes or Amazon.com downloads as well as $20 in refunds on ATM fees each month. A $15 bonus also is offered per sign-up.
To earn the rewards for each of the checking account products, customers must have at least 10 check card PIN or point of sale purchases during a monthly cycle.
Donahue noted that Horizon has never charged flat fees for ATM withdrawals. However, customers were assessed a 50-cent charge for each withdrawal after five withdrawals in a monthly cycle.
"We no longer do that with Kasasa accounts," she said.
Kasasa Saver, the only savings account among the four products, connects to customers' Kasasa Cash or Kasasa Cash Back accounts and pays a 1-percent annual yield. For each month of rewards earned in the checking accounts, the earnings are automatically transferred into Kasasa Saver.
Harris said the Kasasa products are found throughout the nation, but Horizon is the first area financial institution to offer them locally.
"Members win. The credit union wins," she said.
The Kasasa products discourage use of paper checking and transactions which can otherwise drive up costs for banking services.
"Nobody carries cash anymore," Harris said. "Fewer people use checks."
The Kasasa products also help smaller financial institutions compete with the "mega" banks, Horizon officials noted.
"We are excited about it because we are giving back to the community," Harris said.
Horizon Federal Credit Union was founded in 1955 as a credit union for Williamsport Hospital and formerly known as the Williamsport Area HealthCare Federal Credit Union. It became Horizon Federal Credit Union in 2001 when it moved to its present Williamsport location.
Horizon is member-owned with nearly 10,000 account holders.