Fidelity National Information Services, Inc. announced that Suncoast Schools Federal Credit Union, Florida’s largest credit union, has signed a three-year agreement to offer FIS’ ScoreCard Rewards on debit cards. FIS’ ScoreCard is a loyalty program designed to help build customer/member loyalty within financial institutions. Suncoast Schools FCU has been offering FIS’ ScoreCard bonus points on credit card purchases for two years.
“With 355,000 credit and debit card accounts, more than half of which are debit, we examined the benefits of expanding this loyalty program to include our debit card members,” said Jon Rasmussen, vice president, Card Services, of Suncoast Schools FCU. “The ScoreCard program complements our products and effective marketing programs.”
“We believe that increased loyalty fueled by rewards programs leads to increased transactions and increased transaction amounts. ScoreCard rewards helps us accomplish that,” Rasmussen said. Suncoast Schools FCU achieved 37 percent growth in credit card balances in 2006.
ScoreCard serves both existing FIS card-processing clients, such as Suncoast, and issuers that do not process their card accounts with FIS. The program’s robust features and benefits have supported Suncoast Schools FCU’s goal to acquire, activate and retain cardholders. In addition to cardholder benefits, ScoreCard’s dedicated Web site and turnkey administration ensure the program is easy to implement and control. Clients have the flexibility to offer features such as “householding,” which allows families to combine points from multiple cards or host special double-point-earning offers.
One of the capabilities of the program enables financial institutions to target their market by applying different point values for different purchases. For example, Suncoast Schools FCU offered double points for gas purchases during the high-priced gas season.
“Suncoast Schools FCU is a perfect example of how utilizing ScoreCard’s robust features can have significant results and generate benefits for card- issuing institutions,” said Gary Norcross, president of the Integrated Financial Solutions division of FIS.
About Suncoast Schools Federal Credit Union
Suncoast Schools Federal Credit Union is the seventh largest credit union in the U.S. and the largest in Florida, ranked by assets. Chartered in 1934 as a teachers’ credit union, Suncoast has grown and expanded its membership. Today, Suncoast Schools Federal Credit Union is doing business from 45 branches in 15 Florida counties, with assets totaling $5.8 billion.
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE: FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. Approximately 50 percent of all U.S. residential mortgages are processed using FIS software. FIS is a member of Standard and Poor’s (S&P) 500(R) Index and has been ranked the number one banking service provider in the world by American Banker and the research firm Financial Insights and the number two overall financial technology provider in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit http://www.fidelityinfoservices.com.