Michigan State University Federal Credit Union partners with Prizeout to provide cashback rewards and drive digital engagement, replacing declining interchange revenue.
Alongside a growing number of leading credit unions and credit union organizations, Alloya will now offer access to CashBack+ for their 37M members and enable credit unions to increase their bottom line
The playing field isn’t always even, but credit unions can attract new members, increase deposit volume, and remain viable without sacrificing ethics, standards, or community commitment.
Imagine this: you and your spouse go to Applebee’s for a Valentine’s Day dinner. You pay the check with your credit union debit card and, shazam, you get 10% cashback. An impossible story? Not according to Joel Richard, chief experience officer at Interra Credit Union in Indiana.
Bellwether Community Credit Union in Manchester, New Hampshire, is doubling down on its partnership with the New York-based advertising technology firm Prizeout to help its members earn cash back when they purchase gift cards through its digital banking platforms.
David Metz is the Founder and CEO of Prizeout, an adtech company that partners with various industries to optimize money flow and put money back into consumers’ pockets. A career entrepreneur, David started his first company, Flugpo, in 2006 after a 10-year stint in financial services and equity trading. Prior to Prizeout, he was the CEO and co-founder of a mobile trivia app called FleetWit where users could take bets on their trivia skills. His broad leadership experience in finance, marketing, and tech across both large firms and startups put him at the ideal intersection to lead an industry disruptor like Prizeout. David attended Drexel University and lives in New York City with his wife and two kids.
So how do you develop a value proposition that encourages all parties involved to work together for shared success—to maintain this relationship so everyone can reap rewards in both the short and long term? Let’s explore how to build upon this concept.
For some credit-union members in the United States, a third balance appears alongside their debit and credit banking balances: CashBack+
According to the company, CashBack+ is a suite of products that lets credit union members earn instant cash back while they shop and lets credit unions grow their non-interest income by up to 3% on every member transaction
Prizeout’s David Metz stopped by the show to share the big launch of their CashBack+ for credit unions — a new white-label solution that enables credit unions to offer members a suite of cash-back products. David added that Cashback+ essentially helps credit unions boost their non-interest income and offer new benefits to their members, so both parties greatly benefit.