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CO-OP Starting to Offer Rewards Programs; Goal No Longer Solely to Drive Card Use, Executives Say

ONTARIO, Calif. - In the spring of 2003 Visa USA rolled out Visa Extras, its rewards program for debit cards, to a less than enthusiastic response from credit unions. With the settlement with retailers on debit card interchange looming, it seemed unlikely that the program would offer credit unions rewards...

By David Morrison | Updated on June 20, 2006

ONTARIO, Calif. – In the spring of 2003 Visa USA rolled out Visa Extras, its rewards program for debit cards, to a less than enthusiastic response from credit unions. With the settlement with retailers on debit card interchange looming, it seemed unlikely that the program would offer credit unions rewards that would interest their members and still come in at a cost the CUs could afford.

But that was then and this is now and as CO-OP Financial Services (formerly CO-OP Network) announced that it had cut a deal with RewardsNOW, a leading provider of loyalty rewards programs, to offer a debit rewards program, it appears that debit rewards programs are starting to come into their own.

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