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.
Reward Behaviors.
Nudging Members Along the CU Journey:
A large Credit Union (CU) based in metropolitan city had established itself as a market leader in member acquisition, successfully bringing thousands of new accounts into the organisation annually. However, the CU faced a persistent challenge in cultivating deeper, long-term relationships with its existing member base. Many members opened accounts but failed to engage with core digital services or transition the CU to their primary financial institution (PFI). The CU needed a scalable, automated system to reward high-value behaviors and encourage members to complete every small milestone on their journey to becoming fully engaged.
Automated, Event-Driven Rewards
Cyder engineered a solution focused on creating "micro rewardable moments"—an automated engine designed to issue rewards instantly upon specific member actions. The system is highly granular, rewarding both simple actions (like setting up an e-transfer or a direct deposit) and larger milestones (like opening a new investment product). Crucially, the entire program is self-service for the CU, allowing them to define specific pre-qualifying behaviors that members must meet before a rewardable event is triggered, ensuring rewards only go to the most impactful actions.
Continuous Member Relationship Building
By rewarding every small positive interaction, the Cyder platform transforms the CU’s approach to engagement, moving from periodic marketing pushes to a persistent and positive feedback loop. The automated nature of the program encourages the adoption of high-value services and drives critical PFI behaviors (like direct deposit switching and increased e-transfer usage). This automated system gives the CU complete control over behavioral steering, ensuring they can continuously reward and deepen relationships with their existing members at every stage of their financial lives.
Rethink Profit Sharing.
Reimagining the Profit Share Program:
A large Credit Union on the west coast, faced a critical challenge: while they had a significant client base, they struggled to achieve Primary Financial Institution (PFI) status. Many clients held dormant or low-engagement accounts, choosing to conduct their primary banking elsewhere. Furthermore, their existing loyalty program, an aging, impersonal profit-share model, was failing to engage members or provide transparent incentive for deeper commitment. The Credit Union needed a highly engaging, quantifiable rewards platform that directly rewarded the total value of the member relationship.
The Relationship Rewards Engine
Cyder developed a sophisticated, institution-wide rewards program designed to address the PFI challenge head-on. The core of the solution is a monthly rewards calculation engine that determines the amount of points a member receives based on their depth of relationship.
This calculation is dynamic, factoring in key metrics such as the number of products actively used (across every line of business) and the total amount of funds deposited with the Credit Union. This system directly replaced the outdated profit-share model, providing members with a clear, engaging, and predictable incentive tied to consolidation.
Incentivizing PFI Status
The new Cyder-powered program creates a compelling motivation for clients to consolidate all their financial products with the Credit Union. The rewards members receive are now directly proportional to their relationship commitment, transforming the rewards program from a static benefit into a dynamic engagement tool. By working across every line of business and product, the solution ensures every interaction contributes to the member's monthly reward payout. This comprehensive, transparent, and highly engaging system is set to go live in 2025, repositioning the Credit Union as the natural choice for primary banking.
Community First.
Showing Community Involvement:
A Canadian Credit Union (CU) has long been known for its deep commitment to community, dedicating 6% of its core profits annually to charity. This philanthropic mission is a key differentiator, helping them attract values-aligned members. However, the CU needed a way to translate this institutional commitment into a personalized, tangible experience for every member, moving beyond a simple annual report to demonstrating the direct impact of individual banking behaviors on community causes. They sought a unique loyalty approach that drove engagement through emotional reward, rather than transactional cashback.
The Community Impact Engine
Cyder designed the "Personalized Community Impact Engine," a novel loyalty program that fundamentally reframes how members view their banking relationship. Upon enrollment, members actively select the local charities they care about most. Cyder's platform then connects virtually every single banking action—from credit card swipes and e-Transfers to loan payments and deposits—to an indirect, personalized donation amount. This solution is entirely self-service for the CU, automating the calculation and visualization of hundreds of micro-rewardable moments.
Ecosystem Creation
The program transforms mundane transactions into meaningful moments of positive impact. Members receive a history of their "giving-back actions," showing them exactly how their daily banking choices support their chosen charity. By highlighting the social good tied to engagement, the CU creates a powerful incentive: members want to do more business with the CU not just for personal benefit, but to accelerate their collective contribution to the community. This unique approach strengthens member affinity, validates the CU’s core mission, and establishes a highly differentiated loyalty proposition in the competitive market.
