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Contacts: David Frankil
703-842-2226
dfrankil@nafcu.org
Jim Purdy
352-628-5444
jpurdy@bridge2solutions.com
FOR IMMEDIATE RELEASE
January 7, 2010
NAFCU SERVICES AND BRIDGE2 SOLUTIONS ANNOUNCE PODCAST ON TRENDS IN CREDIT UNION REWARDS PROGRAMS
WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) and Bridge2 Solutions, the NAFCU Services Preferred Partner for performance rewards programs, today released a new podcast that discusses recent trends and best practices in implementing successful member rewards programs. The podcast explores the value, basic requirements and success stories of such programs for credit unions.
The free, 20-minute educational podcast is available online at www.nafcu.org/bridge2solutions.
The podcast’s expert, Jim Purdy, EVP and co-founder of Bridge2 Solutions, outlined two major reasons for the swift adoption of credit union rewards programs:
1. Creating a rewards culture strengthens member loyalty and supports member adoption of additional products and services.
2. Promoting the accrual of member “points” allows the credit union to drive specific behaviors, like activating a credit card or signing up for direct deposit.
Several rewards industry trends were outlined, such as the move to a variable rate rewards model. “With a dynamic catalog—like Bridge2 Solutions’ with millions of options—the rewards change as the consumer market changes. This allows the credit union to appeal to all types of members,” said Purdy. “We are also seeing a move to enterprise-wide rewards, not just programs tied to credit or debit cards. More and more, rewards are tied to all the credit union’s services and activities.”
“People have developed high expectations of their rewards programs. Credit unions must find ways to build deeper relationships with their members and promote behaviors that support their goals,” said the podcast’s host, David Frankil, president of NAFCU Services Corporation.
About Bridge2 Solutions, Inc.
Bridge2 Solutions is the leading innovator in the world of incentive, consumer and performance rewards. Bridging performance improvement and advertising agencies with best-in-class retail and service organizations, Bridge2 Solutions created a new business model for reward fulfillment that has redefined the industry. Real-time integrations include 35 incentive, loyalty, advertising and marketing clients. Currently more than 500 live catalogs redeeming points for rewards on a daily basis (including 300+ financial institutions). Members have redeemed 1.5MM+ items and over 10 billion points (with over 160,000 unique items ordered by members in 2008). Learn more at www.bridge2solutions.com.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry's leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 28 Preferred Partner programs to the credit union community. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.
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