1. Reward Account Milestones

From opening an account to completing an online profile, small actions at the start of a member’s journey set the tone for lasting loyalty.

 

Examples:

• Reward members who complete their digital onboarding steps

• Offer a welcome bonus for linking external accounts or going paperless

• Incentivize first direct deposit

Why it works: Early engagement reduces churn and builds familiarity with your ecosystem.

 

2. Incentivize Savings and Financial Wellness

Healthy habits create loyal members. Reward members who consistently grow their savings or hit financial goals.


 

Examples:

• 500 points for reaching a savings milestone

• Monthly bonus for maintaining an emergency fund balance

• “Level-up” badges for financial health improvements (e.g., credit score increases)

Why it works: Encourages responsible behaviour, builds trust, and aligns with the credit union’s mission of member success.

 

3. Encourage On-Time Payments

Financial wellness is a journey, and rewarding responsibility helps members stay on track.


 

Examples:

• Bonuses for a streak of on-time loan or credit card payments

• Re-engagement rewards for returning to good standing after a missed payment

Why it works: Lowers delinquency rates and supports members in developing strong financial routines.

 

4. Celebrate Product Bundling

Rewarding members for using multiple products deepens engagement and increases retention.


 

Examples:

• Extra points for adding a mortgage, insurance, or investment account

• “Bundle bonuses” after maintaining multiple products for six months

Why it works: Boosts share of wallet while showing members the holistic value of your credit union.

 

5. Shop Local, Earn Local

Community loyalty starts on Main Street. Rewarding purchases at local merchants connects financial wellness with community impact.


 

Examples:

• Points or cashback for shopping at participating local businesses

• Double-reward weekends to drive small-business traffic

• Bonus rewards for supporting minority-owned or sustainable merchants

Why it works: Strengthens your brand’s community roots while helping members see tangible local impact.

6. Reward Referrals and Advocacy

Word-of-mouth is powerful and authentic. Turn your members into advocates.


 

Examples:

• Points for every successful referral

• Rewards for leaving a review or completing a member survey

• Gamified “top referrer” leaderboards

Why it works: Drives organic growth and gives loyal members a reason to share their positive experiences.

 

7. Recognize Longevity and Retention

Loyalty is built over time, so celebrate it.


 

Examples:

Anniversary rewards (e.g., 1 year, 5 years, 10 years of membership)

“Stay bonuses” for renewing loans or term deposits

Why it works: Reinforces belonging and reminds members their loyalty is valued.

 

8. Reward Community and Philanthropy

Credit unions have always stood for community. Why not reward it, too?


 

Examples:

• Points for donating to local charities or participating in CU-sponsored drives

• Rewards for volunteering hours logged

• Double points on Giving Tuesday

Why it works: Aligns with values-driven members who want their money and actions to make a difference.

 

9. Incentivize Education and Financial Literacy

An informed member is an empowered one.


 

Examples:

• Points for completing online financial education modules

• Rewards for attending workshops or webinars

• Badges for completing a “Money 101” challenge

Why it works: Builds stronger, more confident members while positioning your CU as a trusted guide.

 

10. Reward Digital Engagement

Loyalty doesn’t only live at the branch.


 

Examples:

• Points for using the mobile app, setting alerts, or enrolling in e-statements

• Streaks for regular log-ins or feature use

• Rewards for trying new tools like budgeting dashboards or goal trackers

Why it works: Increases digital adoption and reduces service costs while keeping members connected.