AUSTIN, Texas, Feb. 26, 2013 /PRNewswire/ -- fisoc, a company that provides the Buzz Points™ merchant-funded loyalty program that enables banks and credit unions to connect consumers and merchants through social media engagement and rewards, today announced four credit unions and a bank as new customers.
fisoc's New Financial Institution (FI) Customers
- Directions Credit Union - Toledo, Ohio
- Fond du Lac Credit Union - Fond du Lac, Wisconsin
- Union Square Federal Credit Union - Wichita Falls, Texas
- Community Service Credit Union - Huntsville, Texas
- Fidelity Bank - Scranton, Pennsylvania
"The recent completion of our C Round of funding is enabling us to grow our marketing and sales teams," stated fisoc's CEO, Jay Valanju. "As a result we are increasing the pace of our expansion in the midwest, northeast and southeast regions of the U.S."
fisoc combines a financial services platform with social media in order for community banks and credit unions to attract new customers by offering enhanced services and an incentive to shop with local merchants that participate in the Buzz Points Merchants Program.
In recent years "Buy Local" campaigns have been gaining popularity. Various studies have indicated that of $100 spent with national retailers, anywhere from $13 to $33 remains in the community whereas that same $100 spent with local merchants results in $50 to $60 staying in the local economy.
When local businesses start to award Buzz Points, they enable credit union and banking customers to earn those points at a participating merchant location each time a debit card is used. The program can increase customer loyalty, provide the opportunity for merchants to promote selected products and attract new business.
The points earned can lead to reward cards that can be redeemed locally or donated to a favorite church, school, sports team, charity or local public service organization. The theme of the program is 'buy local, shop local, give local.'
"We actually heard about the success of the Buzz Points Merchants Program from a participating credit union in Fort Atkinson, Wisconsin," said Chris Rockweit, President of the Fond du Lac Credit Union. "We are looking forward to offering a service that encourages the citizens of Fond du Lac to open an account with us and also support local merchants and charities."
"We like the social media aspects of the Buzz Points Merchants Program," stated Kathy Martin, SVP, Development and Support, for Ohio's Directions Credit Union. "Our members will be able to earn double, triple or more reward points than those offered by national programs. And they earn even more reward points when they share their experience with friends and family on social media sites such as Facebook, Twitter, and Yelp."
About fisoc and the Buzz Points Merchants Program
fisoc, Inc. was founded to develop and provide products that enable credit unions, independent and community banks to target consumers through social engagement and rewards programs. fisoc, Inc. helps financial institutions increase transactions, improve account balances, and grow loan demand as they attract new customers. The Buzz Points Merchants Program increases existing consumer loyalty and attracts new customers to participating local retailers. Investors include Greycroft Partners, KEC Holdings, Metamorphic Ventures, Daylight Partners and Angel Investors. For more information, please visit: www.fisoc.com.
Buzz Points is a trademark of fisoc, Inc. Other trademarks mentioned are the property of their respective owners.