SAN DIEGO - Member loyalty is nice to talk about but increasingly those same loyal members expect to be rewarded.
To that end PSCU Financial Services is extolling the benefits of its PSCU Member Loyalty Rewards Solution. In remarks before PSCU-FS’ annual meeting here, Misti Hons, an Advisors Plus consultant with the company, said the advantage with the PSCU-FS loyalty program is that a credit union can reward loyalty across the enterprise.
“It allows you to link accounts and relationships throughout your organization into a consolidated rewards program, and to create rewards only accounts without requiring a credit or debit relationship,” said Hons. That means the credit union can reward a member for an auto loan (with the points have a limited life), and then sell the member into a credit and/or debit relationship.
“Instead of looking elsewhere for an auto loan, you are able to avoid losing them to a Bank of America,” said Hons.
Under the PSCU-FS program the credit union defines the services for which points are rewarded, and can transmit both monetary and non-monetary files to the CUSO. “The program points will reside in individual program buckets. An aggregate of all programs will represent the redeemable balance,” she explained. Members can download their points into their home banking program.
Participating credit unions see the same info on the First Data platform, with the same structure for credit and debit transactions. Points can be redeemed for travel, merchandise, gifts, etc. A dedicated website is available for redemption.
