TORONTO – DCR Strategies Limited, a firm which has made its name in the marketing and provision of loyalty programs has turned its attention to credit unions, tailoring a suite of turnkey products specifically for CUs.
The company's TruCash Credit Union Rewards Program is designed to complement and support the offering of all CU products, grow the credit union member base, and make the CU's debit card the most frequently used and valuable card in a member's wallet, the company said.
The company stressed that the rewards program is completely customizable to a CU's needs and that it offers a variety of components from which a CU can choose. These include online rewards to encourage online transactions, the ability to include all of a CU's products in an awards program, the ability to offer different rewards to different tiers of members and assistance with marketing and administering the program.
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The firm, which is headquartered in Toronto, has opened offices in Florida and Arizona to reach out to U.S. CUs with its programs.
According to Patrick Lister, marketing director for DCS, the firm's more than 500 online partners and retailers means that CUs using TruCash can actually make money from their rewards programs. This is because the different partnering firms reward the CU for sending members their way through the rewards program and by consolidating their rewards program expenses across different products.
In addition, Lisker explained, CU members do not have to redeem their accumulated points for the reward items, they can redeem the points for cash instead.
"This is a part of our program that we believe is distinctly different from anything that anyone else is offering," Lister said.
Currently the firm only has one Canadian CU that is using the program, but Lisker said that other U.S. credit unions are talking with the firm about starting with TruCash. The company said the one CU that has been using the program for months has seen a 32% increase in debit card usage and a 9.3% increase in the average debit card purchase since the start of the program.
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