Buzz Points Selected by UMassFive College Federal Credit Union to Offer Shop Local Loyalty and Rewards Program

HADLEY, Mass., Oct. 2, 2014 /PRNewswire/ -- Buzz Points, a leader in connecting local businesses, community financial institutions and consumers through rewards, today announced that UMassFive College Federal Credit Union, a financial institution serving more than 31,000 members has selected the Buzz Points merchant-funded loyalty program. UMassFive serves the Faculty, staff, and students of University of Massachusetts, along with the other colleges in the Five College System. Currently, UMassFive has branches in Hadley, Northampton, Amherst, Worcester, and holds over $385 million in assets. Buzz Points is free and allows credit union members to earn rewards while supporting the local economy by using their debit cards for everyday shopping.  

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Buzz Points will be offered to UMassFive members as part of Co-Op Rewards, the credit union's suite of services designed to reward members for participating in the cooperative. Buzz Points will complement the Co-Op Points program, by adding a dimension of local economy support.

"As a non-profit cooperative financial institution, we endeavor to live the seven cooperative principles and strive to make a difference in the financial lives of our members," said Katherine Hutchinson, President and CEO of UMassFive College Federal Credit Union. "There is a strong sense of local support and sustainability in the communities we serve. When we learned about Buzz Points, we immediately recognized its tremendous potential as a support mechanism for the local economy and a great way to give back to the community by rewarding our members for shopping locally while providing independent businesses in the area with the marketing tools they need to compete with national chains."

Buzz Points is the only merchant-funded rewards platform that works with community financial institutions and local businesses to engage mutual customers. Credit union members can earn points by using their debit cards whenever they shop, but they earn more points for local shopping and the most points for shopping with local businesses enrolled in the program. Buzz Points creates additional loyalty for the credit union and gives local businesses a turnkey marketing solution that provides the data analysis and targeted marketing technologies they need to expand their market reach, attract new business and increase the loyalty of existing customers.

"Sustainability and local living, particularly with regard to food security, CSA farms and farm shares, are integral to the communities UMassFive serves," said Jay Valanju, CEO of Buzz Points. "Through 0% interest farm share loans, leadership training to student co-op business leaders at UMass, and its role as a charter member of the Valley Cooperative Business Association with local producer, food and agricultural co-ops, UMassFive has embraced local living as part of its organization since its founding in 1967. Buzz Points will help further enrich UMassFive's contributions to the communities it serves by enabling members to earn rewards while supporting independent area businesses."

Credit union members enrolled in the free program earn points automatically through debit card purchases that can be redeemed easily for gift cards, cash cards and donations to local non-profits using the Buzz Points web interface or mobile app. A continually expanding network of 30,000+ local businesses nationwide allows cardholders to shop locally, accrue points and redeem rewards wherever they are.

About Buzz Points, Inc.
Buzz Points, Inc. is the creator of the Buzz Points loyalty product suite, which connects consumers, local merchants and community financial institutions through social media engagement, targeted marketing and rewards. The Buzz Points Program enables credit unions and community banks to generate greater non-interest income, increase transactions, reduce account attrition, drive new loans and attract new customers. The Buzz Points Merchant Program provides additional revenue to financial institutions, increases existing consumer loyalty and supports local businesses by increasing their market reach and attracting new customers. For more information, visit www.buzzpoints.com.

Media Contact:
Susan Guerra
Thatcher+Co. 
[email protected] 
973-650-6555

SOURCE Buzz Points, Inc.

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