Richwood News

Buzz Points is a Win-Win-Win for Local Communities

By September 12, 2014January 14th, 2015No Comments

Since the launch of Buzz Points to all debit card holding customers this past November, Richwood Bank is announcing that more than 2 million points have been awarded.

Set with a goal to offer a true rewards program that is simple, effortless and offers tangible benefits that are relevant to customers, Richwood Bank initiated a new shopping rewards program called Buzz Points. The program is offered at no cost to bank customers and is directly tied to their debit card.

The Richwood Banking customers enroll their debit card to the Buzz Points portal and purchase as they normally would, but now will earn Buzz Points from Richwood Bank wherever they go.

Locally-owned businesses may partner with Richwood Bank to boost a customer’s reward points by adding in a bonus when they choose to shop at their location. This in turn creates a “buzz” to choose this business over a nationally owned franchise. As of this release date, more than 80 businesses have joined the program to help customers accumulate their points faster.

As customers see their Buzz Points quickly double, quadruple – even multiply tenfold, they may redeem rewards instantly in the form of printable eCertificates towards their favorite stores. Non-profit organizations such as churches, shelters, food pantries, boosters, etc. may also join the Buzz Points program, allowing shoppers to redeem Buzz Points towards donations for their favorite fundraisers or causes.

Chad Hoffman, CEO and President of Richwood Bank explains the win-win-win idealism behind Buzz Points. “We always strive to offer our customers – individuals, families and business owners – new ways to get more out of banking when choosing to partner with us. We diligently, thoroughly and carefully investigated our ideas to find a strong loyalty program that will bring everyone together and help further grow our communities.

Hoffman continues, “We, too, are a local business and have a responsibility to our communities. When we began the research, and learned that just in Marysville alone – only $1 out of every $10 from our customers was being spent locally – we knew we needed to find a solution that was a “win” for everyone. We believe Buzz Points is a great way to bring that spending back to the towns we serve and help our customers see real financial benefits from it.”

According to economic studies posted online, approximately 15% of national chain revenue is returned to the community it is located in, while locally owned businesses contribute more than 50% to the community they reside in.