CO-OP Financial Services, a national payment, ATM and shared branching CUSO, is providing a merchant-funded rewards program which could continue to allow credit union to offer rewards on their debit card programs.
Dubbed “ShoppingFling” and offered in conjunction with RewardsNOW, Inc. of Dover, N.H, which already offers rewards programs.
“CO-OP Financial Services is dedicated to helping credit unions expand profits and maintain long-term member relationships,” said Stan Hollen, CEO for CO-OP Financial Services. “ShoppingFLING does both by increasing card usage and incremental interchange revenue as well as increased member engagement in their credit union.”
As part of the package, CO-OP Financial Services is offering a turnkey marketing support program to help credit unions market ShoppingFLING while keeping their institution and card programs top of mind with their members,” the CUSO said.
Merchant rebates offset program costs, making ShoppingFLING an extremely affordable way for credit unions to offer rewards. The program can also be added as an enhancement to an existing rewards program, CO-OP added.
The CUSO said CU members can access ShoppingFLING directly from a credit union’s website. Members earn cash back for shopping online or in store and can take advantage of special deals, just by using their credit union-issued debit or credit card.
