Shop Local.
Differentiating Through a Member Network:
A Credit Union on the west coast, which banks over 40% of its local population, sought to move beyond mere market share and solidify its status as the champion of the regional economy. Their challenge was that conventional loyalty programs often reward large brands or online spending, undermining their core mission to support local small businesses. The Credit Union needed a strategic, embedded solution to tangibly direct consumer spending back into the community, reinforcing their value proposition for both members and merchants alike.
The Cyder Solution: Ecosystem-Driven Loyalty
Cyder designed a custom “Shop Local Rewards” program that integrated directly with the FI’s infrastructure. The program was created as a mutually beneficial ecosystem: Credit Union members automatically earn reward points when using their payment card at participating small businesses. Crucially, the Credit Union strategically sponsors the base reward points for all transactions, positioning it as a direct investment in the community's economic health. The solution launches on the FI’s debit card portfolio first, with credit card expansion planned for the next phase, and small businesses can independently elect to "top up" points to drive repeat customer traffic.
Building a Self-Sustaining Ecosystem
The Cyder-powered program transforms the Credit Union into an essential, co-marketing partner for local merchants. By actively driving member spending and sponsoring rewards, the Credit Union created a powerful network effect that went far beyond consumer loyalty. This program will create a significant new value proposition, successfully driving small businesses to join and bank with the Credit Union, recognizing it as the institution dedicated to providing real customer traffic and economic benefit to their doors. The "Shop Local Rewards" program successfully cements the FI's identity as the vital backbone of the local business community.
With Cyder, Reward Your Members For Anything