CULoyalty™ Overview
Member acquisition and retention are extremely important in today's environment of highly competitive financial institutions. Additionally, the ability to successfully market a Credit Union's suite of services to members can have a tremendous impact on the long-term health of that institution. An effective Member Loyalty program will address both member retention as well as member's use of the Credit Union's diverse products.
CULoyalty™ provides the ability to offer a loyalty-checking program that rewards members for using those services that benefit both the member and the credit union. Use of the software allows the institution to attract new members with a range of Loyalty Checking Accounts tailored for the specific demographic makeup of targeted membership.
Additionally, CULoyalty™ provides an answer to the competitive threat from local banks offering high interest checking rates. The credit union benefits from increased interest and interchange income from Card Interchange Fees, Spread Earnings, Privilege Pay and NSF Fees. Finally, operational costs are lowered due to the increased use of Electronic Delivery Channels such as Payroll Deposit, Online Banking, Bill Pay, E-Statements, Debit Cards, and Credit Cards.
CUPoints™ Overview
CUPoints™ facilitates a Credit Union's member loyalty program, allowing members to automatically earn loyalty points, and then redeem those points for rewards. Loyalty points are calculated based on criteria important to the Credit Union including length of membership, average account balances, credit union services, debit and credit card activity, participation in events and other transactions.
CUPoints™ provides a Credit Union with the capability to establish multiple loyalty levels for all members. For example, members can achieve a specific level by earning a pre-determined number of points in a calendar year. Members with a specific loyalty status can then automatically be rewarded with additional incentives such as free or discounted services, free bill pay service, no check holds, etc.
CUPoints™ lets members and Customer Support staff view and redeem loyalty points online. Rewards are dictated by the Credit Union to reflect the interests of its members and the unique services offered by the institution. Example rewards include: higher dividend rate CD, lower interest rate loans, fee reversal, gift cards, merchandise and more.