PSCU’s rewards program generates growth and increases engagement
10-year PSCU member sees strong portfolio growth from rewards program
ST. PETERSBURG, FL (September 23, 2015) — Custom built with each member credit union in mind, PSCU‘s Total Member Loyalty Rewards program has generated record sales growth and increased engagement for credit unions since its launch. Three million cardholders and 280 credit unions currently utilize PSCU’s loyalty and rewards platform to successfully build member relationships and increase revenue.
Started nearly 20 years ago, PSCU’s loyalty rewards program has evolved based on member and market needs and is driven directly by input from Member-Owner credit unions. Citadel, a 10-year PSCU member based in Exton, Pennsylvania, has introduced several rewards programs to its members since 2004 and reports a strong overall portfolio due to its participation in this platform.
“In 2008, we added CURewards® to our debit cards and have averaged a 12 percent growth on debit sales year over year. We take advantage of any rewards program that PSCU has to offer that helps increase usage and gives back to our members,” said Elizabeth Fee, Director of Payments Solutions at Citadel. “Since 2004, we have successfully introduced several PSCU rewards programs to our members and as a result, have built a strong overall portfolio.”
Due to the successes experienced by PSCU’s cashback programs, Citadel worked closely with PSCU in May 2015 to launch a cash rewards card and a pilot Cash Back Mall. An additional merchant-funded piece was added to give members the opportunity to earn even more points and allow members to redeem points where they want. Additionally, Citadel has participated in PSCU’s Magic Minute™ sweepstakes, a program that recognizes and rewards credit union members for their trust and loyalty, for the past two years. The Magic Minute sweepstakes is open to all PSCU Member-Owner Credit Unions that are enrolled in the company’s CURewards® loyalty programs.
Rewards cardholders spend, on average, 60 percent more and conduct 30 percent more transactions than non-rewards cardholders. PSCU’s loyalty rewards programs are built for the unique needs of credit unions and their member with a goal of increasing loyalty that ultimately translates into growth. PSCU’s consultative and custom approach to loyalty rewards programs allows credit union members to address their specific needs and create a rewards program that targets their unique objectives.
“Our Total Member Loyalty reward program is built exclusively for credit unions and their members,” said Scott Wagner, EVP of Membership Development for PSCU. “PSCU has collaborated with hundreds of credit unions and has helped them build successful loyalty programs that truly engage members, build relationships and grow program value and profitability.”
Member Loyalty Rewards offers five programs that have been tailored to connect with members’ lifestyles: Transaction Level Rewards, Member Loyalty Rewards, Rebate Rewards, CURewards® Select and CURewards® Mall. PSCU credit union members enrolled in the company’s loyalty program can also use the CURewards® mobile app to view merchandise redemption options, check on points and review offers. Members can also use the mobile app to redeem points for special travel offers and hotel bookings. For more information on PSCU’s Total Member Loyalty Rewards program, visit pscu.com/loyalty.
About PSCU
PSCU/Co-op Solutions is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America. PSCU/Co-op Solutions leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit pscu.com and coop.org.
