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Community Banks & Credit Unions Unveil "Declaration of Free Checking"

Jul 3 2013 12:00AM

Marketwire

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AUSTIN, TX -- (Marketwired) -- 07/03/13 -- Today, executives from 65 community banks and credit unions are taking a final stand to save free checking for Americans by signing a "Declaration of Free Checking" in the spirit of the Fourth of July.

Over 60 percent of banks have eliminated free checking accounts, according to Bankrate.com, and the average cost to simply have a checking account is more than $140 annually. On top of taking away free checking, the "too big to fail" megabanks have been quietly issuing sneaky fees including low balance and ATM fees.

"People who give us their hard earned money aren't just making a deposit at our bank," says David P. Krause, CEO of Pioneer Bank, a community bank in Minnesota. "They are trusting us to protect their livelihood, which is exactly why we believe free checking is a fundamental right that all Americans deserve."

These local banks and credit unions created the "Declaration of Free Checking" as part of a national movement inspired by Kasasa® to remind American consumers that free checking is not a thing of the past.

"Local communities are the heart of what makes this country so special," says Gabe Krajicek, CEO behind Kasasa.com, a resource for consumers searching for free rewards checking accounts. "This 'Declaration' not only proves the undying commitment of local banks and credit unions to serving consumers' best interests but also demonstrates their pledge to keeping American communities strong."

In addition to offering free checking, nearly 170 small banks and credit unions offering Kasasa have collectively paid over $76 million in interest to consumers and refunded nearly $8 million dollars in ATM fees on their Kasasa accounts since 2009.

About Kasasa.com
Kasasa.com features free checking and savings accounts that offer consumers free ATM use nationwide, no minimum balance to maintain the accounts, no monthly service fee, and rewards that matter, like earning high interest rates. For more information on Kasasa and to see the complete list of free, high-interest checking and savings accounts at community banks and credit unions across the country, visit Kasasa.com.



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Contact:
Katie Weathers
kweathers@csg-pr.com
404-791-8245
@katie_weathers





Source: Marketwire


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