Technology Credit Union is already known for thinking outside the box, but the management team may have raised the bar with its latest partnership with a personalized wine club.
Last week, Tech CU unveiled a one-year partnership with Revel Wine, a personalized wine club with offerings tailored to users’ taste and budget. The Novato, Calif.-based company works with eight winemakers worldwide, allowing its customers the option of browsing through its wine collection and selecting wines or joining the club.
Tech CU said in a statement this “mutually beneficial partnership” allows the credit union to “offer an additional member benefit beyond its full suite of financial services” and provides Revel Wine with access to the “loyal and diverse membership base of Tech CU.”
“While our main focus is offering exceptional financial services to our members, we also recognize they have lives outside of banking,” Todd Harris, president and CEO of Tech CU, said in a press release. “This partnership acknowledges our goal of offering lifestyle perks as well.”
A Tech CU spokesperson said the credit union signed a one-year exclusivity agreement with Revel Wine to offer “unique benefits” to its members. Marketing messages from Revel Wine and other third-parties are only delivered to members who opt-in to receive them, the CU noted.
“Our members will not be receiving any direct messages from Revel Wine,” the spokesperson explained. “Instead, Tech CU will reach out to potentially interested members about Revel Wine when it makes sense. For example, we plan on offering a gift card toward a Revel Wine purchase when a member chooses to open up a CD with Tech CU.”
Oliver Colvin, chief operating officer at Revel Wine, said “Given Tech CU’s geographical location and its commitment to enhancing members’ lifestyles, partnering seemed ideal.”
The $2.6 billion-asset CU is based in San Jose, Calif., in the heart of Silicon Valley. It is one of the 20 largest credit unions in California, serving more than 100,000 members throughout the San Francisco Bay Area, including employees of such companies as Tesla, eBay and Facebook. In the past 14 months Tech CU won a 2017 Credit Union Journal Best Practices award for its innovative “
