Debit card rewards members more for shopping locally, provides turnkey marketing solution to independent businesses
MICHIGAN CITY, IN – May 08, 2014 – Buzz Points, a leader in connecting local merchants, community financial institutions and consumers through rewards, today announced that Members Advantage Credit Union, a Michigan City financial institution with 3 branches in northwestern Indiana, has selected the Buzz Points merchant-funded loyalty program for its 9,000 members. Buzz Points is free and will allow credit union members to earn rewards while supporting the local economy by using their debit cards for everyday shopping.
“Members of our community, as well as our vital local businesses, deserve to be rewarded for shopping right here in Michigan City,” said Frank Beachnau, President of Members Advantage Credit Union. “With Buzz Points, members can earn points regardless of where they shop but, unlike any other program, they also earn more points for local shopping and the most points for shopping with local merchants enrolled in the program. Large retailers and national banks have long enjoyed the benefits of scale and nationwide rewards programs to fuel their businesses. We are pleased to offer our members and business community an unprecedented solution that makes our members’ money work harder for them and helps level the playing field for local merchants who don’t have the market power to command lower interchange rates or the marketing budgets to compete with big box chains and online retailers.”
Buzz Points is the only merchant-funded loyalty program with a focus on Main Street. By building an ecosystem of community financial institutions and local merchants to engage mutual customers, Buzz Points creates additional revenue for financial institutions and gives local merchants something in exchange for their interchange fees—a turnkey marketing solution that provides the sophisticated data analysis and technologies they need to expand their market reach, attract new business and increase the loyalty of existing customers.
“Research suggests that not only do independently-owned stores benefit the local economy more than national chains, but that consumers also want to shop and bank locally to keep their money in the community,” said Jay Valanju, CEO of Buzz Points. “We have seen local spending double in the communities where we operate as Buzz Points gives people a reason to buy, bank and redeem locally. ”
Participants of the free program earn points automatically through debit card purchases that can be redeemed easily for local gift cards, cash cards and donations to local non-profits from within the Buzz Points web interface or mobile app. A continually expanding network of 30,000+ local merchants nationwide allows cardholders to shop locally, accrue points and redeem rewards wherever they are.
About Buzz Points, Inc.
Buzz Points, Inc., is the creator of the Buzz Points loyalty product suite, which connects consumers, local merchants and community financial institutions through social-media engagement, targeted marketing and rewards. The Buzz Points Program enables credit unions and community banks to generate greater non-interest income, increase transactions, reduce account attrition, drive new loans and attract new customers. The Buzz Points Merchant Program provides additional revenue to financial institutions, increases existing consumer loyalty and supports local businesses by increasing their market reach and attracting new customers. For more information, visit www.buzzpoints.com.
Media Contact:
Susan Guerra
Buzz Points, Inc.
973-650-6555