DALLAS -- Rennhack Marketing Services is offering a Web-based rewards program for credit unions of all sizes to target to members and employees, the company says.
The Credit Union Bonus program allows credit unions to build a branded online presence at its site at www.creditunionbonus.com and then offer members and employees merchandise, gift cards and other rewards for points earned or other specific behaviors.
The program includes low entry costs and uses proprietary research to help define the portfolio of retail-branded incentives it offers, the company says. Rennhack says it has used the research tool to screen more than 1,400 items since 2002 through national mall intercepts and focus groups to gauge the appeal of specific brands and products.
For instance, employees could earn points for acquiring new members, opening a new account for an existing member, or encouraging a member to apply for a loan. Members, meanwhile, could earn redeemable points by referring friends or signing up for automatic payroll deposit.
Credit unions have seen the platform help double the normal rate of opening on CDs and equity lines of credit, according to RMS, a Dallas-based provider of merchandise-based incentive programs to credit unions, banks and thrifts.