Debit card incentive programs yield impressive results for Corporate One members

Participating credit unions increase transactions, collect nearly $36,000 in incentives

The power of debit card incentive campaigns is being felt by participating Corporate One members. With increased transactions fueling nearly $36,000 in brand incentives collected by our credit unions and more than $1,500 in the pockets of their members in the first half of this year, there is no doubt that our enhanced ATM/debit card solution is paying off for participating members.

Results from the ongoing brand rebate incentive program sponsored by MasterCard® and Visa® that reward participating credit unions for growing their debit card portfolios have been outstanding for Corporate One members. Under this program, Corporate One members have earned more than $36,000 in paid incentives so far this year as a result of strengthening their debit card programs. Best of all, it’s easy for our members to reap these rewards. Participation in each respective brand rebate incentive program, which is ongoing, only requires eligible credit unions to enroll once to begin earning cash reward incentives.

As a strategic complement to brand rebate incentives, PSCU-FS annually manages several targeted debit card growth programs. Results from the spring debit card growth campaign, targeting low debit users with cash rewards for increased usage of 10 or more transactions per month, shows participating credit unions increased debit transactions anywhere from 20-50 percent, while their members collected more than $1,500 in cash rewards. For the spring campaign, PSCU-FS created and managed all the marketing and mailing of the promotion as well as payment of the rewards, costing participating credit unions nothing but the time to enroll. PSCU-FS sponsors such campaigns as a way to help credit unions maintain and grow successful debit portfolios, and is currently in the middle of running its fall campaign.

To maximize the success of the incentive programs available, it is recommended that credit unions use the different incentive campaigns in conjunction with each other. As the brand rebate incentive program rewards credit unions for growing their portfolios, credit unions can receive a boost from participating in PSCU-FS sponsored campaigns, which are proven effective at growing debit transactions through targeted cardholder incentives. And, while it might seem like a no-brainer to participate in these programs, only half of Corporate One’s members on the ATM/debit solution have opted-in to the brand rebate incentive program, with even fewer participating in the PSCU-FS debit growth campaigns.

The rewards are too easy to pass up. Next time your credit union receives notice from Corporate One that it is eligible for the debit rebate incentive program and/or that enrollment has opened for the next PSCU-FS sponsored debit campaign, don’t delay. Increased transactions, a stronger debit portfolio and incentives lie ahead.