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November 09, 2018 • 
  • Press Release

SAFE honored for innovative credit card product

FOLSOM, Calif. – (Oct. 15, 2018) – Give members choice. Give members unlimited cash rewards. Give them that combination, and you have an award-winning idea for a credit card.

SAFE Credit Union introduced its Visa® Cash Rewards Card in October 2017 and received the Visa DPS Excellence in Innovation award just six months later. SAFE Card Services focused on how to give the Credit Union members the most value when deciding the card’s unique features. The card offers three cash back rates: 5% on purchases made in categories that rotate each quarter, 3% on essentials such as gas, groceries, and dining in restaurants; and 1% on all other purchases. SAFE members choose which category they want to earn the 5% cash back: retail shopping or charities for the holidays; amusement parks for the summer; and school tuition for back-to-school time, for example.

Members redeem their rewards through the SAFE App or Online Banking. They can either transfer the cash rewards into their SAFE account, apply it to their credit card balance, or, in a nod to SAFE’s commitment to philanthropy, donate the rewards to a select group of nonprofit organizations serving the Greater Sacramento area.

SAFE Visa Innovation award

“The card has proved to be very popular with our members and our partners in the community,” said SAFE Assistant Vice President Credit and Debit Card Program Jennifer Martin. “In total, our members have earned $788,000 in cash back and we are always exploring new, exciting categories for them to choose from. This quarter, we are offering members a chance to earn 5% cash back on Amazon.com purchases, department stores, charities, electronic stores, movie theaters, or insurance. A lot of people are excited about the Amazon,com or potential Apple purchases through electronic stores; however, I’m pretty excited about my insurance bill.”

Martin will attend An Innovation Immersion this fall at Visa’s New York City Innovation lab to share more about the success of the Cash Rewards card and gain even more insights to continue SAFE card products best-in-class position.

“SAFE Credit Union created more than just a clever Cash Rewards Visa® Credit Card with a compelling offer,” she said. “We designed, developed, and launched a rewards platform intended to drive engagement and nurture relationships. This platform was tailored for the mobile environment, and prompts cardholders to choose bonus reward offers, review earnings, schedule redemptions, or redeem cash immediately – all in real-time using the SAFE Mobile App or Online Banking.”

About SAFE

SAFE Credit Union, established in 1940, is a leading financial institution in Northern California with more than $2.8 billion in assets and more than 229,000 members. The credit union provides a full range of financial solutions for consumers and small businesses through 21 service centers across the Greater Sacramento region and a mortgage lending office serving Contra Costa County. SAFE offers its members a variety of banking services, including online, chat, mobile, phone, as well as a full-service, locally based call center. SAFE is a not-for-profit, community-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. SAFE is federally insured by the NCUA. www.safecu.org

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