Merchant-Funded Rewards Program Introduced by CO-OP Financial Services

ShoppingFLING Helps Credit Unions Strengthen Member Relationships

RANCHO CUCAMONGA, Calif. (October 31, 2011) – CO-OP Financial Services is expanding its rewards offerings with ShoppingFLING, a best-of-breed, standalone merchant-funded rewards program, designed to help credit unions increase profits and strengthen relationships with their members.

ShoppingFLING is being offered by CO-OP Financial in partnership with RewardsNOW, Inc. of Dover, N.H. (www.rewardsnow.com). The program is a uniquely affordable way for credit unions to offer rewards on debit cards, leveraging an online shopping portal to earn cash back for members.     

“CO-OP Financial Services is dedicated to helping credit unions expand profits and maintain long-term member relationships,” said Stan Hollen, President/CEO for CO-OP Financial Services. “ShoppingFLING does both by increasing card usage and incremental interchange revenue as well as increased member engagement in their credit union.”

ShoppingFLING enables credit unions to offer members added valued to further differentiate their checking accounts from banks charging fees. As part of the package, CO-OP Financial Services is offering a turnkey marketing support program to help credit unions market ShoppingFLING while keeping their institution and card programs top of mind with their members. Merchant rebates offset program costs, making ShoppingFLING an extremely affordable way for credit unions to offer rewards. The program can also be added as an enhancement to an existing rewards program.

Credit union members access ShoppingFLING directly from a credit union’s website. Members earn cash back for shopping online or in store and can take advantage of special deals, just by using their credit union-issued debit or credit card.

For members, the program includes cash back awards and great deals; online and in-store shopping at hundreds of national merchants, as well as dining and entertainment; ZIP Code search and mapping capability for merchant locations and a search by category feature.

To learn more about ShoppingFLING from CO-OP Financial Services, visit www.co-opfs.org/grow (see CO-OP Relationship Builder Portfolio).

About RewardsNOW, Inc.

Loyalty programs generate incremental profits from increased customer retention and acquisition, increased product usage, and a higher level of customer engagement. As the premier provider of turnkey loyalty programs, RewardsNOW and its exclusive Extended Rewards Network (ERN) encompasses all the critical elements for a customer loyalty program to be successful. This includes design, implementation, analysis and reporting, marketing and rewards offerings and redemptions as well as 24/7/365 customer service. For more information, visit www.rewardsnow.com.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif., CO-OP Financial Services is the industry leader in access and convenience products for credit unions. With 30 years of credit union service, CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services is the nation’s largest credit union service organization, offering the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.

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