RANCHO CUCAMONGA, Calif. — CO-OP Financial Services rolled out an expanded rewards offering this morning that will allow credit unions to offer rewards on debit cards, leveraging an online shopping portal to earn cash back for members.
The program, ShoppingFLING, is being offered in partnership with RewardsNOW, of Dover, N.H., and will enable credit unions to offer members added valued to further differentiate their checking accounts from banks charging fees.
"CO-OP Financial Services is dedicated to helping credit unions expand profits and maintain long-term member relationships," said Stan Hollen, president of CO-OP Financial. "ShoppingFLING does both by increasing card usage and incremental interchange revenue as well as increased member engagement in their credit union."
Credit union members can access ShoppingFLING directly from a credit union's website. Members earn cash back for shopping online or in store and can take advantage of special deals, just by using their credit union-issued debit or credit card.
For members, the program includes cash back awards and great deals; online and in-store shopping at hundreds of national merchants, as well as dining and entertainment; ZIP Code search and mapping capability for merchant locations and a search by category feature.
As part of the package, CO-OP Financial is offering a turnkey marketing support program to help credit unions market ShoppingFLING while keeping their institution and card programs top of mind with their members. Merchant rebates offset program costs, making ShoppingFLING an affordable way for credit unions to offer rewards.
