CUES, Strunk Partner On Premium Checking Product

MADISON, Wis. - CUES said it has entered into a partnership with Houston-based Strunk & Associates to offer a premium checking product to promote membership growth. Called "Reward Checking" and built on a platform provided by BancVue, the product "delivers a high interest rate checking account to credit union members in exchange for their use of the institution's online services and products," CUES said.

"Reward Checking is an innovative way for credit unions to attract new members and strengthen relationships with existing members," said Marc Paine, EVP and director of marketing, Strunk &Associates. "When free checking was first introduced, it represented a truly effective marketing tool. But now, with every other bank and credit union offering it, free checking has become a commodity service that offers little or no competitive differentiation."

In return for earning a high interest rate, Reward Checking participants must use a specified number of online services and institutional products, which may include online banking, e-Statements, direct deposit, online bill pay and other offerings determined by each credit union.

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