4 ways to reward loyal members

This Valentine’s Day, see how credit unions share the love via rewards programs and other givebacks.

Valentine’s Day comes once a year, but credit unions show off their love for members year round.

Last year, members at American 1 Credit Union($368.0M, Jackson, MI) cashed in nearly $500,000 in points earned through the credit union’s ScoreCard Rewardsprogram. The program gives members one point per dollar spent and also includes quarterly promotions such as triple points for restaurant and travel spending or double for gas purchases.

What members got in return ran the gamut from retail gift cards to international travel, according to Laura Pryor, the credit union’s vice president of marketing and communications. And that’s all aside from the more than $1.5 million the credit union returned to members in loan interest rebates and bonus dividends.

“You have to do this if you want to remain competitive,” Pryor says of the credit card reward program. “But it’s also a good feeling. We build affinity and loyalty between member and credit union with this program.”

 

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