PSCU Adds Merchant-Funded to Rewards Program

by Mercator Advisory Group 0

In a well-timed move to enhance its credit and debit card loyalty and rewards platform for member credit unions before the holiday shopping season ramps up, PSCU Financial Services states in a recent announcement that “nearly 100” of its clients have adopted a new merchant-funded rewards component within the program. CURewards now incorporates an online mall where credit union members can access discounted merchandise and offers from local, regional, or national merchants than can be redeemed in-store or at merchants’ websites. The program is supported by Chicago-based Hinda Incentives.

“The CURewards Mall is a innovation way to reward cardholders for their loyalty that is funded by merchants and not credit unions,” said Michael Kelly, President and CEO, PSCU Financial Services. “This attractive rewards option combines personalized offers and online shopping to stimulate higher usage for a credit union’s debit and credit cards. The ultimate goal is to build stronger member loyalty.”

These offers can include points or discounts with Mall network merchants. Cardholders can also request that notifications be sent to an e-mail address.

PSCU Financial Service is providing comprehensive marketing support including web banners, in-branch displays, direct mailers, statement inserts and other marketing materials – also at no cost to credit unions.

PSCU Financial Services also provides reports that track network spending, response rates to offers, and the impact of the program on credit card usage. Participating credit unions can earn rebate dollars from member spending in the Mall network. Each credit union’s monthly invoice will reflect a credit based on its members spending in the Mall network. No additional implementation or administrative fees are required for a credit union to add the Mall network to its CURewards program.

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