As most credit unions know credit cards are a competitive segment of the banking world. From competing with banks to department stores, your members do not have a shortage of options when it comes to selecting a card.
In the United States there are over 364 million open credit card accounts, so how can your credit union stand out from the crowd? Credit card reward programs.
Fifty-two percent of consumers said they selected a new cared for a better rewards program. When it comes to incentives to sign up for a new card, cash back is the most popular type of reward. In addition to offering cash back, simplicity is key when it comes to redeeming rewards. Your members will appreciate an easy to follow point system as well as a user-friendly platform to redeem their rewards.
Member Access Pacific (MAP) offers a rewards program that encompasses all of these things. Our cost-effective program helps with retention, increases card usage as well as provides cross-selling opportunities. MAP has partners with Augeo Dream Points so your members can receive points for the day to day purchases. Augeo is a national leader in helping businesses improve performance and growth.
With Dream Points, your credit union’s cardholders will have the ability to redeem from hundreds of rewards options including:
- Gift cards
- Merchandise
- Travel
- Green Products
- Experiences
Research has found that members tend to spend more with cards that have a robust reward program. According to a study by creditcards.com, consumers with an attractive rewards program spent $1,132 per month on average compared those with a less desirable rewards program.
In addition, to reward programs, MAP also offers Visa card solutions and digital payments to meet your member’s needs. MAP’s Visa debit, credit, and prepaid card options are perfect for any member at any stage of life— from those looking to build their credit score to members looking for a new primary card. Each card harnesses the power and convenience of Visa’s global network.
Like MAP’s card suite, our digital payment products also provide credit unions members the convenience they are looking for. The Mobile App allows members to access their account information, complete transfers, pay bills and manage alerts all from their smartphone. Visa Checkout is another benefit that will simplify your member’s lives — especially those who enjoy online shopping. With Visa Checkout you can make online purchases quickly and more securely through a single sign-in service.
Keeping your members happy is vital to the success of your credit union. Give your cardholders the opportunity to earn loyalty reward points for everyday purchases by contacting MAP today.
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