Midwestern grocer Hy-Vee has affixed its retail banner to a package of financial products under the name Hy-Vee Financial Services, provided via its Midwest Heritage Bank subsidiary.
Hy-Vee said yesterday that customers across eight-state market area sign up and apply for an array of banking and other financial services, including checking and savings accounts, auto and home insurance, home mortgages, consumer loans and pet insurance. More offerings — including life insurance policies and health insurance plans — are slated to be added to Hy-Vee Financial Services within the year.
At the kiosks, shoppers can access QR codes to learn more about Hy-Vee Financial Services offerings on their mobile device.
Members of Hy-Vee Fuel Saver + Perks and Hy-Vee Plus rewards programs also have access exclusive insurance services and additional savings on mortgage loans and pet insurance via Hy-Vee Financial Services, the West Des Moines, Iowa-based grocer said.
“Customers are now seeking more affordable and more convenient financial options,” Hy-Vee Chairman, CEO and President Randy Edeker said in a statement. “By leveraging our ownership of our subsidiary Midwest Heritage, we are able to serve our customers in a new way that meets those needs, while also bringing more value to our Hy-Vee Fuel Saver + Perks and Hy-Vee Plus members.”
Hy-Vee said that, in recent months, it has worked with Midwest Heritage to deploy contactless kiosks inside 210 Hy-Vee stores to provide convenient locations for customers to access an overview of Hy-Vee Financial Services offerings. Through the kiosks, shoppers can access QR codes to learn more about specific services on their mobile device or pick up brochures for more information.
“The in-store kiosks serve as a gateway for Hy-Vee customers to learn more about the affordable offerings available to them,” according to Tony Kaska, chairman, CEO and president of Midwest Heritage. “Customers who inquire to learn more about Hy-Vee Financial Services can expect to receive a personalized, high level of service as we help them select the best offerings based on their tailored financial needs and goals.”
Overall, Hy-Vee generates annual sales of $11 billion and operates more than 275 stores in Iowa, Illinois, Kansas, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin. Also based in West Des Moines, Midwest Heritage has more than $375 million in assets and operates branches in Chariton, Iowa, and inside Hy-Vee stores in central Iowa (five locations) and Overland Park, Kan. (one location).
