AUSTIN, Texas (8/7/14)--Horizon Utah FCU, with $118 million in assets, Farmington, Utah, 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 credit union members to earn rewards while supporting the local economy by using their debit cards for everyday shopping.
To date, 14 credit unions have enlisted in the Buzz Points program, with six signing up in 2014.
"Being able to keep dollars in Utah where they strengthen the local economy is particularly appealing to us," said Randy Gailey, Horizon Utah FCU president/CEO. "We believe our members will wholeheartedly adopt this new rewards program."
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 local shopping 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 turnkey marketing solution that provides the data analysis and targeted marketing technologies they need 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.