Catalyst News

‘Go Time’ Becomes ‘Good Time’ with Solid Support During New Product Launch

by Catalyst Corporate | Jul 09, 2019

Launching a new credit union service to thousands of members can be a nerve-wracking experience. But the “unmatched” support provided by Catalyst Corporate Federal Credit Union and StrategyCorps eased concerns. So says Katie Kosmala, VP of Operations at the $2 billion Atlanta Postal Credit Union, which recently launched BaZing, a rewards checking program.

With BaZing, credit union members can receive modern benefits that impact their everyday lives, delivered right on their phone. It was a big leap when APCU converted more than 12,000 members last year from a no-cost checking program to a fee-based, but value-added, program.

Now, with BaZing, members have access to more than 400,000 national, local and online discounts on dining, shopping, entertainment and travel, as well as cell phone replacement protection, personal identity theft protection, healthcare discounts and 24-hour roadside assistance.

Prior to the launch, Catalyst Corporate and StrategyCorps – Catalyst Corporate’s BaZing service provider – teamed up to provide “all the necessary tools to help us fully understand the product, its benefits to our membership, and the roadmap for the implementation,” Kosmala said. “We were never left in the dark or questioning what the next steps would be, as everything was very clear and concise regarding to the process.”

Kosmala said the credit union staff wondered how the members would accept the new program. “We were a bit nervous as we approached the day conversion letters were to be sent out. Members were inquisitive, “but their questions were answered, they became excited for the new account and some wanted it as soon as possible. We were pleasantly surprised by how well our members took the news of the conversion.”

One APCU member said they used BaZing to order Disneyland tickets. The member said she saved $168 and received a restaurant gift card for $25.

Another member provided this account: “My dad relocated to Atlanta and needed storage space for a few months. He paid full price for his storage for the first months of November and December. I noticed BaZing offered a 50 percent discount off the first month of storage at that same location. I called and spoke with a representative and they honored the coupon. Thanks to BaZing, a $96 monthly charge has been reduced to $48.”

Credit unions – like Atlanta Postal Credit Union – benefit from analytical support when adopting BaZing, said Karen Coble, Vice President of Sales at Catalyst Corporate. Existing checking account structures are evaluated and segmented, and account relationships are ranked so that credit unions can structure checking accounts with appropriate levels of benefits. And then a “report card,” created after a year of activity, measures the program’s success and points out where adjustments can be made.

“The most successful element of the BaZing app thus far is being able to offer a checking account (program) with so many perks to our membership. We are always looking for strategies that will help our members achieve financial success by providing exceptional products and service,” Kosmala said.

Learn more about the Catalyst BaZing rewards checking account program.