Baxter Credit Union Uses Debit Card Rewards to Increase Transaction Volumes, Interchange IncomeSt. Petersburg, FL, March 8, 2006 – Baxter Credit Union of Vernon Hills, Ill., added a rewards program to its debit card portfolio to boost debit card use and encourage signature-based transactions. The credit union’s members earn awards quickly since rewards points for debit and credit cards can be combined. The credit union contracts with PSCU Financial Services to provide CURewardsTM for its debit and credit cardholders. The credit union has 66,000 VISA Check Card accounts. “By offering a rewards program for debit cards, we expect to increase transaction income by up to 35 percent and boost the number of checking accounts. It also benefits our members since they are able to accumulate rewards points quickly and redeem them for a wide variety of travel and merchandise awards,” said Michael G. Valentine, President and CEO, Baxter Credit Union. Members began earning CURewards points for signature-based debit card transactions in November of 2005. Members earn one point for every $2 in spending. PSCU Financial Services handles award redemption and the combining of points from debit and credit accounts. Baxter Credit Union promoted its “Supercharged” VISA Check Card to its members through statement inserts, newsletter articles, direct mail letters and its web site. Its slogan was: “Works like a check and earns points like a credit card.” “VISA research has shown that rewards programs generate strong growth in both credit and debit programs,” said David J. Serlo, President, PSCU Financial Services. “Our CURewards program has proven especially popular among credit unions and their members because we offer a wide variety of merchandise in addition to travel packages, and points can be redeemed using a web site or a toll free number.” About PSCU Financial ServicesPSCU Financial Services is the nation's largest Credit Union Service Organization (CUSO). As a non-profit cooperative, the company is owned by more than 500 member credit unions nationwide, representing nearly 10 million credit and debit cardholder accounts and more than 300,000 online bill payment subscribers. PSCU Financial Services maintains its headquarters and Eastern operations center in St. Petersburg, Florida. The company is also supported by a West Coast operations center based in Phoenix, Arizona.Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, bill payment and contact center solutions. PSCU Financial Services uniquely offers its members a full range of processing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As the leader in the credit union industry, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit the company's Web site at www.pscufs.com.
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