AUSTIN, Texas (9/23/14)--Alcoa Tenn FCU, with $185 million in assets, has selected the Buzz Points merchant-funded loyalty program for its members.
Buzz Points is a CUNA Strategic Services alliance provider.
The program is free and allows members of the Alcoa, Tenn.-based credit union to earn rewards while supporting the local economy by using their debit cards for everyday shopping.
To date, 15 credit unions have enlisted in the Buzz Points program, with seven signing up in 2014.
"As Blount County's oldest financial institution, we have always prided ourselves on being the stable, local financial institution that is most in tune with the counties that we serve," said David Gill, Alcoa Tenn FCU vice president of business development and branch operations.
"By rewarding our members for shopping locally and by providing the independent businesses in our community with the same sophisticated data analysis, market insights and targeted marketing capabilities used by the largest national chains and online retailers in the country, Buzz Points gives ATFCU the ability to play an even greater role in the continued economic stability and growth of the entire region," Gill added.
The program is the only merchant-funded rewards platform that works with community financial institutions and local businesses to engage mutual customers. Credit union members can earn points by using their debit cards whenever they shop, but they earn more points for shopping locally and the most points for shopping with local businesses enrolled in the program.
Buzz Points creates additional revenue for financial institutions and gives local businesses a marketing solution that provides data analysis and targeted marketing technologies to expand their market reach, attract new business and increase the loyalty of existing customers while also helping to offset the higher interchange fees that small businesses are often burdened with.