ONTARIO, Calif. — Credit union EFT network and processor Co-Op Financial Services announced in a news release that it and RewardsNOW, provider of loyalty marketing programs, have partnered to launch a debit-rewards product. Branded "Co-Op Member Rewards," the new offering is expected to launch during the third quarter of 2006.
"Because debit processing is a vital part of our business, we wanted to be sure we selected the right rewards partner," Co-Op chief executive Stan Hollen said. "We chose RewardsNOW because they provide a cost-effective program with flexible redemption options and dedicated customer support. Our member credit unions will have access to an exceptional 'points-for-usage' program, while having the ability to integrate applications beyond ATM and debit products."
Credit union cardholders using Member Rewards will accumulate points for every dollar spent on their debit card.
"While card-based rewards programs have traditionally been the domain of larger institutions, Co-Op Member Rewards allows smaller and mid-size institutions to provide this competitive product at an affordable price," RewardsNOW president and CEO Steven Van Fleet said.
