A unique way your credit union can grow its members
and/or wallet share is through a carefully thought-out rewards program. A
successful rewards program is one that goes beyond credit card points.
The three things to keep in mind when choosing a program are: to make
sure it’s free to your membership; have it offer discounts on things
your members want and use; and that it’s simple to implement at your
credit union.
A recent study from Kelton Research showed that:
- Nearly all (95%) of credit union members say they trust special discount offers from their credit union
- 85% of members would like more discount offers from their credit union
- 37% of members would increase credit union usage due to the availability of discounts
Credit unions are known to put members first,
and offering a valuable rewards program underscores this mission. Member
rewards are just another way that your credit union can set itself
apart from banks.
CU Solutions Group’s own Invest in America
(IIA) member rewards program has been proven to increase member loyalty
and grow loans at credit unions. Plus, it offers exclusive discounts
from partners such as GM, Sprint, Dell, TurboTax, DIRECTV
and more. The IIA team is there for its credit unions every step of the
way and even offers free marketing materials for credit unions to use
in their branches, on their website and in their statements.
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