SAN LUIS OBISPO, Calif.— SESLOC FCU has launched a new “Local Rewards” program it said is designed to incentivize members to shop at select local businesses, including a variety of grocery stores, restaurants and retail shops.
Members will earn bonus rewards points on purchases with eligible Visa debit and credit cards, the credit union said.
“As a community credit union, supporting our local economy is a top priority,” said Kelli Briggs, SESLOC SVP/COO. “Through this new card offering, we see tremendous value in encouraging members to shop local—the cross-promotion of this new benefit is a win-win for our members, the participating merchants, and the Central Coast community.”
According to the $1.2-billion SESLOC Credit Union, it custom-designed the Local Rewards program to be “simple and streamlined” for both members and the participating businesses. Since 2018, eligible cardholders have been earning reward points on all purchases via the SESLOC Rewards program, which is administered by AmpliFI Loyalty Solutions.
Add-On Rewards
“Local Rewards is an add-on to this existing program, which automatically awards 1.5x in bonus points on eligible card transactions,” the credit union said. “The program eliminates the need for integration with point-of-sale systems, coupon codes, or membership validation on behalf of the businesses’ employees.”
To launch the program, SESLOC said it identified 13 local merchants that currently had a high volume of SESLOC Visa card transactions. There is no fee for the business to participate, with the businesses strongly encouraged to post Local Rewards signage in-store, “effectively extending SESLOC’s brand further into the community and boosting awareness among non-members.”
In turn, SESLOC said it promotes the businesses on various direct-to-member channels.
Driving Engagement
To drive engagement among members, SESLOC said it crowdsourced business nominations via a form on its website. After the initial program announcement was sent, SESLOC reported receiving dozens of submissions, demonstrating a demand for expansion within the community.
SESLOC CU said it plans to grow the program to 200 businesses within the next year, with dozens added on a quarterly basis.
“This year, we are celebrating 80 years of service to the Central Coast, Briggs continued. “Local Rewards is one of the many ways we give back to the heartbeat of our community—our people and place—who have supported us for eight decades and hopefully generations to come. We are excited to inspire members’ feedback and anticipating the next round of businesses to join the program.”
SESLOC FCU has approximately 57,000 members.