Bank Card Encourages Shopping Local

Consumers now expect to receive some sort of points or rewards for using their credit or debit cards, so the trick now is finding a way to stand out. Franklin Savings Bank is using its system to encourage people to shop locally. This summer the Lakes Region bank signed on to Buzz Points, a business that partners with local banks to offer points through a bank debit card for frequenting local businesses. 

Franklin Savings Bank launched the program July 1 and 1,500 account holders—17 percent of its active debit card customers (those that have used the card in the last month)—signed on. More than 40 local businesses have also signed on to the program. Merchants who sign on pay a monthly fee and are featured in weekly emails, on the mobile app and in social medial marketing. They can also offer discounts and pop up on the phones of customers who allow the app to track their location, and alert them to participating vendors in the area. 

“By doing this we’re providing another connection to businesses,” says Ronald Magoon, executive vice president and COO of Franklin Savings Bank, based in Franklin. “We see the opportunity to support our local communities and support Main Street. It’s another way for us to tell the businesses we are going to work really hard to have a program be beneficial to you and drive business to you.” 

Magoon says the bank made a significant investment in the program, including awarding 1,000 points to customers who signed on by Aug. 31 and subsidizing part of the monthly vendor fees ($25) for business customers for the first year. Local businesses that are not with Franklin Savings Bank can also join the program. Bank customers also receive points for shopping at local venues that are part of the program with other banks. Magoon says no other NH banks have joined. 

Customers who use Buzz Points download an app that is free and stores no personal information. They then receive a quarter of a point for every dollar spent at national merchants and one point for every dollar spent on local participating merchants. Points can be redeemed at local businesses that are preferred members for discounts, special offers or to even make donations to local nonprofits. 

“This is something the bank can do to try to change customer behavior and encourage people to make the decision to buy locally,” Magoon says. 

To learn more, visit buzzpoints.com or fsbnh.com.