NEW ORLEANS – The Louisiana Credit Union League (LCUL), the state-trade association for credit unions, announced the launch of CU Perks, an exclusive shopping rewards program that rewards both members and credit unions.
In partnership with Retail Benefits, a leading online deals provider, members can earn up to 40 percent in CU Perks shopping at the same stores they're shopping at today. The added benefit to this program is the opportunity for credit unions to receive rewards from purchases made by their members.
CU Perks allows members to browse thousands of popular online retailers through the website or mobile app, making purchases as usual. Rewards are automatically posted to the member's account in one to seven days, where they can then be viewed in their personal dashboard (account overview). The program's platform will pay out members directly with credit union earnings being distributed by the League annually.
"As we designed CU Perks, our goal was to take the value of credit union membership to the next level,” said Steven Liberto, LCUL's chief administration officer. “We know the benefits of being a credit union member, and this program just reinforces it. We are excited to launch this program because it's one of a kind and a win-win for everyone. Not only will members earn CU Perks for shopping online, but credit unions will earn extra rewards on top of that.”
Retail benefits has partnered with thousands of retailers to offer Louisiana credit union members cash back on the online shopping they are already doing, reps said. Louisiana credit unions are automatically enrolled in the program with no cost to participate. The only investment for Louisiana credit unions is being a member of the League.
“We tested this program in-house prior to publicizing it,” said Lacey H. Weaver, vice president of communication & public relations. “League staff were excited to see their account build up by simply making purchases they were already making. The idea of CU Perks demonstrates our drive for innovation, empowering credit unions with the necessary tools to better serve their members in an ever-changing technological environment. As always, the League will be here every step of the way in helping our credit unions promote CU Perks to their members.”
LCUL will be providing an implementation toolkit for credit unions that provides everything needed to market CU Perks to their membership.
