BuzzBanking Inc. and CUNA Strategic Services have partnered to offer software they said bridges financial and social networks to build a rewards program that helps credit unions grow membership, increase debit card transactions and yield new loan opportunities while earning additional fee and interest income.
“Rewards programs are prevalent across all industries,” said Wes Millar, senior vice president of CUNA Strategic Services. “The BuzzBanking platform provides credit unions with an opportunity to build member loyalty by rewarding member’s behavior for being financially responsible consumers. They can also associate rewards with behaviors such as subscribing to direct deposit, applying for loans or referring new members.”
The six-month pilot program from CSS and BuzzBanking, a technology development company in Austin, Texas, began on March 1. Eligible credit unions have the opportunity to test the software with their employee groups at an introductory price, the company said.