New banking option coming to Putnam County
HURRICANE, W.Va. -- Those living in and around Putnam County will have a new banking option come this summer.
Pioneer WV Federal Credit Union is opening a new branch at 3746 Teays Valley Road. Now under construction, it will be the sixth branch for the credit union, which already has five operating locations in the state.
What Shannon Bradley, vice president of member services, hopes will appeal to community members are some options offered through the brand Kasasa.
"Kasasa is a new product that we just launched in January," she said.
Through Kasasa, a branded national product, Pioneer WV offers a 3 percent dividend rate on checking balances up to $5,000. It also gives refunds for ATM machines that charge fees for using a Pioneer WV card.
"We try to say to members: 'You're doing things like swiping debit cards, logging online. These things save us money and those savings should be passed on to our members,' " Bradley said. "We're able to save and so able to give people nationwide access to any ATM. If they go to different ATM and are charged $3 fee, we're able to reimburse them."
All Kasasa products are free, reward-based accounts, with no minimum balance to earn the rewards and no monthly service fees. Pioneer WV also offers free online banking, and free bill pay -- many of the same amenities of a larger bank but without the same marketing budget to let people know what's available, Bradley said.
The credit union earned the title of Federal Credit Union of the Year in 2012 from the National Association of Federal Credit Unions. It won in the category of banks with less than $150 million.
With an asset base in excess of $148 million, it provides its full range of financial services to more than 12,900 members, the company reported in a release. Based in Charleston, Pioneer WV has branches in Thomas Memorial Hospital, Riverside High School and in South Charleston and Oak Hill.
Pioneer WV already has about 2,100 members who live in Putnam County, Bradley said.
Pioneer feels "like we're doing good things for West Virginia" and keeping money circulating locally, she said.
"We feel like with a credit union, decisions are made here. If we're making money, we're giving it back to members," she said. It also gives loans to people within the community, she said.
"Taking care of people in the community -- that is what we do every day, and take our members' interests to heart," she said.