Solutions Enhancements Designed to Build Member Engagement, Deepen Loyalty, Drive Revenue
For Release on January 17, 2018:
RANCHO CUCAMONGA, Calif. – To help credit unions meet their member-engagement and top-of-wallet goals in 2018, CO-OP Financial Services is launching enhancements to its Member Rewards and ShopSPOT by CO-OP merchant-funded solutions.
“Competition for the attention and business of financial consumers is picking up steam,” said Shazia Manus, Chief Product and Strategy Officer for CO-OP. “Our goal is to make it not only easy, but incredibly enjoyable for members to do business with their credit unions. Our enhanced rewards programs are designed to build engagement, deepen loyalty and drive revenue for our credit union clients.”
NEW: BP Pay at the Pump feature Added to Member Rewards by CO-OP
CO-OP’s BP Pay at the Pump rewards feature gives credit union cardholders a seamless, convenient way to redeem points. This new feature is a part of the Member Rewards by CO-OP solution, giving credit unions a competitive, robust rewards offering as part of CO-OP’s card processing solutions.
Anytime a member who has earned at least 2,000 points swipes their card at a BP pay-at-the-pump terminal, they will be prompted to use the points for $0.50 off per gallon. The member simply accepts and fills their vehicle as normal, earning the discount on up to 20 gallons of gas.
Manus says the feature is a prime example of the seamless member experiences credit unions in the CO-OP ecosystem will be able to deliver in 2018. For the credit union, she says, solutions like real-time point redemption deliver on top-of-wallet, and increasingly top-of-digital-wallet, ambitions.
EXPANDED: Wider Availability for ShopSPOT by CO-OP Merchant-Funded Rewards
The merchant-funded rewards program ShopSPOT by CO-OP helps differentiate credit union credit cards by connecting cardholders to hyper-local merchant rewards, all while keeping program costs under control for the issuing credit union.
Beginning in January 2018, the merchant-funded rewards program will be available to all credit unions in the CO-OP ecosystem. Notably, this includes those credit unions that joined the company as a result of CO-OP’s April 2017 acquisition of TMG.
“Digital transformation is a journey, and we are excited to demonstrate incremental achievements as we traverse this path alongside our clients,” said Todd Clark, CO-OP President/CEO. “The credit unions in the CO-OP ecosystem see clearly the value frictionless, rewarding experiences bring to the member relationship. In partnership with them, we are designing, building and connecting to the apps consumers turn to for hyper-personalized and predictive financial experiences.”
For more information, visit www.co-opfs.org.
About CO-OP Financial Services
CO-OP Financial Services is a payments and financial technology company whose mission is ensuring the success of the credit union movement. CO-OP payments solutions, engagement services and strategic counsel help credit unions optimize member experiences to consistently provide seamless, personalized multi-channel offerings, while delivering secure, sophisticated fraud mitigation service. For more information, visit www.co-opfs.org.