NAPERVILLE, Ill.-DuPage Credit Union here hopes that high gas prices will translate into more Visa credit and check card business for the CU.
The $265-million credit union now allows members to swap Visa rewards points for gas money, and is promoting it prominently on its website.
"We felt that in this tough economic time and with high gas prices the redeem-your-points-for-gasoline message would be heard by membership and bring attention to our ScoreCard Bonus Points program," said Roberta Kozlowicz, SVP-corporate development. "We hope members will think, 'Maybe I should be a rewards check or credit card customer.'"
When members hit a certain point threshold, they can trade in their ScoreCard Bonus Points for gas credits. Members submit a form to the CU with their gas receipts and money is deposited into their accounts: 7,500 ScoreCard Bonus Points return a $50 gas credit and 15,000 points land $100 in members' accounts. Other ScoreCard Bonus rewards, such as travel savings, are still available.
"We're hearing that members really like the idea," Kozlowicz said. "We just launched the offer mid-September, so it's a little early to gauge results. But some members who have a lot of points already have turned them in for gas. It just gives them another benefit for using our rewards cards."
The program is advertised as being available for a "limited" time because DuPage was unsure how well the idea would appeal to members, but Kozlowicz said he believes it will run through year-end.
