From Transactions to Trust:
Building Enterprise Loyalty in Credit Unions

July 1 2025 | Authored by: Jasmin Athwal

6 min read

Loyalty programs have long been one of the most efficient tools in a marketer’s toolkit. Not only does it drive repeat engagement through points, perks, and promotions but it also has the power to turn everyday members into genuine brand advocates. But in today’s landscape, where trust is fragile and competition is relentless, loyalty can’t just be a marketing play.

It needs to be embedded across the entire member experience.

That’s where enterprise loyalty comes in.

Reimagining Loyalty: It’s Bigger Than You Think

Enterprise loyalty goes beyond dropping rewards into an account. It’s about cultivating relationships that last, relationships that are felt at every step of the member journey.

It requires a mindset shift: from “how do we get people to transact more” to “how do we consistently show up in meaningful ways for our members across every channel, every interaction, every moment.”

My current fixation is a sauna and cold plunge house here in Toronto. Yes, I’m there for the endorphin rush, the deep meditations, and the post-class high. But what made me feel so seen and has me hooked, is the compostable travel bag they hand you for your damp swimsuit afterward. It’s thoughtful. It’s ecological, which aligns with the values they promote. But most importantly, it proves they’ve thought about the experience beyond the session itself.

That kind of attention to detail is loyalty thinking.

Why It Matters Most Right Now

Credit unions have always had something special: a member-first model rooted in shared values, trust, and community ownership. But that strength is being tested like never before.

Members expect more. Meridian’s ‘More Than a Number’ survey revealed that 46% of Canadians are looking for a more personalized banking relationship and 66% are worried about losing the ‘human connection’ with their banks as AI becomes more common. This tells us that members don’t just want automation or convenience but that they want to be understood.

Younger demographics want meaning. They’re loyal to brands that align with their values and they’re quick to move on when they don’t feel seen. In the HumanKind Study 2025 by Leo Canada they found that this particular generation can spot inauthentic pandering from a mile away and that dictates their decision making. This generation doesn’t want empty slogans or vague promises. They want to know what a credit union stands for, how it shows up in the community, and whether it reflects the causes and perspectives they care about.

Neobanks and fintechs are gaining ground. Wealthsimple, for example, saw assets under management grow from $18.3 billion in 2022 to $64 billion in 2024. Their edge? Seamless design, personalized experiences, and value-driven messaging. They make members feel seen, supported, and like they’re part of something smarter and more modern.

At the same time, many credit unions still run loyalty programs that are siloed, manual, and overly transactional. They reward purchases but not participation. Engagement, but not emotion.

Enterprise loyalty is how we bridge that gap.

It brings cohesion. It brings intention. And it brings credit unions closer to what they’ve always done best: putting people first.

What Enterprise Loyalty Looks Like in Practice

What does it look like when a credit union embraces enterprise loyalty? It’s not about launching a flashy new app or reinventing your brand overnight. It’s about weaving loyalty from different angles into the reward platform.

Here are three main offer categories:

Marketing Incentives: Incentivising new behaviours by offering one-time rewards when a member completes specific actions such as opening a new account. Incentives would be funded by the enterprise with additional budget provided to marketing based on needs and once eligible criteria is met, the reward is doled out. These are currently in place though the process looks very manual and can be streamlined within an enterprise rewards program.
On-going Rewards: Provide ongoing rewards to recognize and incentivize long-term member engagement and continued participation in credit union services. Rewards will be funded by a separate budget and members will receive rewards periodically and informed when they have received their points. These kinds of rewards are meant to replace current patronage programs.
Transaction Rewards: Transaction-based rewards to encourage card usage and member engagement by offering benefits tied to spending activity. Transactions generate interchange revenue which will be used to fund various cred card rewards offers. CU’s are currently predominately using Collabria’s Flex points and can use white-labelled points if rewards are issues via debit card.

Technology Is the Enabler, Not the Answer

Enterprise loyalty isn’t about chasing every trend or layering on more tech for the sake of it. But the right tools can make it easier to deliver better experiences.

At Cyder, we see the realities credit unions face. Legacy systems. Lean teams. Pressure to modernize. Our platform is built to support all of that. We help make loyalty programs easier to run, more connected to your values, and better aligned with what members actually care about.

Whether it’s automating rewards, surfacing insights, or helping you run more meaningful campaigns, we’re focused on keeping loyalty simple and human.

Looking Ahead

The future of loyalty isn’t just about getting people to spend more. It’s about building relationships that last, and letting your values guide how you grow.

Credit unions that embrace enterprise loyalty will stand out. Not because they’re trying to be different for the sake of it, but because they’re grounded in who they are. That’s the kind of loyalty people remember.

Build the right loyalty program with Cyder.

If you're looking to thrive amidst a changing loyalty and rewards landscape, Cyder can help. We encourage you to book a one-on-one demo today with Cyder’s loyalty experts.