Sioux Empire FCU reached out to the Earnings Edge team at CU*Answers to discuss options for rewarding their members who are credit card holders. The toolkit that was most interesting to the team at Sioux Empire FCU was the CU*BASE credit card cash back toolkit that automatically posts a deposit to members at EOM based upon the credit union’s configurations. The Earning Edge team was able to sit down with the credit union and help decide on historical data to be analyzed and then completed the analysis for the credit union.
The analysis included various scenarios that calculated the amount of finance charges earned compared to the hypothetical amount of cash back the credit union was interested in pursuing. Alayna Johnson, a vice president from SEFCU, said: “By diving into past member behavior with the Earnings Edge team we were able to review data that informs us on what options we have available. We have yet to make any decisions on what we plan to offer to our membership, but there is no doubt that the presentation from the Earnings Edge team helped our executive team understand our member’s current landscape.”