Credit unions’ rewards gap: Turning member interest into growth

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Research from PYMNTS Intelligence and Velera shows that credit unions have yet to fully convert member demand for rewards programs into actual participation, as rewards influence card spending and primary account selection. Among consumers who hold multiple cards, 40% choose a particular card because of better incentives, including cash back; among credit union members, the figure is 44%. 60% of members with multiple cards use more than one card to maximize rewards or benefits.