US bank launches community loyalty scheme
The US-based 'Old Second Bank' has launched a customer loyalty debit card that offers community benefits as well as personal rewards. The system behind the new 'CommunityFirst Plus Personal Rewards' debit card loyalty programme was provided by incentive marketing firm, Consumer Benefit Services Inc.
CommunityFirst will offer a range of rewards to Old Second Bankcard users for using their debit card, as well as generating cash contributions to the card holder's personally selected non-profit organisations. Old Second Bankcard customers will automatically be enrolled in the programme.
Old Second Bank sees the programme as an opportunity to acquire, activate, and retain customers, driving more business to participating community merchants, while helping the community by stimulating cash donations to a number of charitable causes.
The community donations come from a portion of the rebate each merchant gives to participate in the programme. The rebate can range from 5% to 25% of the total retail purchase value.
CommunityFirst has a strong national and web-based merchant coalition, the members of which are listed in ongoing cardholder communications, and on the programme's web site. For online shoppers, more than 155 major brand name on-line merchants are accessible through the programme's web portal. For high-street shoppers, 125 local merchants within Old Seconds marketing footprint have already been signed up, giving an average rebate of 10% on purchases.