Loyalty Developments
Stay current on loyalty developments shaping financial-services growth, then use the archive to compare how strategies, customer behaviors, and market priorities evolve over time.
New this week
Wealthsimple launched Credit Card Partner Cash back on October 1 for Canadian Visa Infinite, Visa Infinite + and Visa Infinite Privilege cardholders who receive its 2% base cash-back rate. Members activate each offer in the app before purchase; launch partners provide total rates of 5% at Sephora and Altitude Sports, 8% at Silk & Snow, and 4% at 437, with partner-specific end dates.
Achieve Credit Union ended ScoreCard Rewards redemptions on September 30, with unredeemed points expiring rather than transferring, as it moves its Visa portfolio to a new processor and Platinum Rewards program. Members begin earning on qualifying new-card transactions from October 16, can enrol in the new rewards program from October 28 for a 500-point bonus, and receive digital-wallet tokenization on the conversion date.
Chase and IHG launched the $350 annual-fee IHG One Rewards Premier Select Card on October 1, adding food-and-beverage rewards, an airline statement credit, a free night, Platinum Elite status and 20 annual Elite Night Credits. They also updated the existing Premier, no-fee IHG One Rewards and business cards with new or expanded earning, credits, free-night caps, status and Elite Night Credit benefits; existing cardholders will receive effective-date details in October and annual-fee changes are scheduled for 2027.
Loyalty Development Archive
Effective October 1, Neo Financial ended gas and grocery cash back on its base Neo Mastercard, while retaining partner offers and keeping 1% gas and grocery cash back on the no-annual-fee Neo Money card. The fintech also raised Build and Grow membership fees, moved savings-rate eligibility from balance tiers to memberships, and is positioning its forthcoming Neo Advance credit-building product within the paid and payroll-linked membership model.
Alaska Airlines announced the next phase of Atmos Rewards on September 29, including a planned early-2027 debit card that earns points and status points, offers flight and onboard discounts, free point sharing, no foreign transaction fees, and permits certain account fees to be paid with points. Beginning October 1, members can select distance, spend, or segments as the way to earn points and status points on flights departing from January 1, 2027; Alaska also plans to enable transfers from eligible Bank of America card products in 2027 and refresh the Bank of America-issued Atmos Rewards Visa Business Card later this year.
U.S. Bank launched the no-fee Business Essentials Visa and $295 annual-fee Business Essentials Plus Visa Signature cards on September 28. Both earn unlimited 2% cash back, with qualifying business-checking balances lifting the rate to as much as 2.5% or 3.5%; Plus also earns 5% on the top spend category up to $200,000 annually.
Bilt launched an Equinox partnership on September 28 that lets members join, manage, and pay for an Equinox membership in the Bilt app, with a choice of 10,000 Bilt Points or a complimentary service for new memberships. Equinox members can also redeem Bilt Cash twice annually for $75 to $150 in credits, depending on Bilt status, toward specified fitness and wellness services.
Bilt updated its Bilt Cash program guidance on September 25 to add a cardholder benefit that lets members redeem Bilt Cash to unlock Bilt Points on monthly rent or mortgage payments without transaction fees. Every $30 of Bilt Cash redeemed unlocks 1,000 points, capped at 1X of the member's monthly housing payment, with a stated minimum redemption of $0.03 for one point.
Bilt and Amtrak launched a points-transfer partnership on September 23. Members can transfer Bilt Points to Amtrak Guest Rewards at a 2:1 ratio in 1,000-point increments, making Amtrak Bilt's 26th travel partner and first rail partner.
EQ Inc.'s Integrated Rewards launched its Celebrate Canadian campaign on September 23, increasing the visibility of Canadian merchants and offering enhanced cash-back incentives across its card-linked network. The network says it has hundreds of offers, including more than 30 from Canadian brands, and distributes merchant offers across consumer platforms and marketing channels.
Desjardins will modernize its credit card management system from October 12 to 20. Card purchases, payments, and regular transactions will continue, but cardholders will not be able to redeem or modify cash back and BONUSDOLLARS during the maintenance window.
Chase added no foreign transaction fees to Freedom Flex on September 21 and began offering Freedom cardmembers rotating Points Boost offers on select Chase Travel hotel bookings. The offers can raise the Chase Travel redemption value of Ultimate Rewards points by up to 10%, while the card retains its no-annual-fee structure and rotating cash-back categories.
Impact Credit Union says its QuickPerks debit rewards program ends on September 20 as part of a debit and credit card conversion. The credit union will issue new card numbers, launch Impact Rewards on September 21, transfer existing ScoreCard points, and set transferred-point expiry for September 2029; newly earned points will expire after three years.
Bilt is treating a card upgrade as a relationship journey rather than a new-account application. Preserving the account and rewards balance removes customer friction, while eligibility-controlled offers give Bilt a way to move proven cardholders into richer products without restarting the credit relationship.
In its September 18 Elite update, Aeroplan said eligible primary holders of an Aeroplan premium credit card who hold 25K status or higher on February 15, 2027 will receive Status Qualifying Credits equal to 10% of the SQC they earned in 2026, with no cap. To receive the first annual Head Start award, the member must be an active primary premium-card holder by December 15, 2026; the update also sets a December 30 deadline for selecting 2026 bonus SQC milestone benefits.
BMO is using one loyalty currency to make an adjacent financial product more visible and to reward activity earlier in the acquisition funnel. That is a meaningful enterprise-loyalty move because the program is being asked to connect banking, insurance, and customer recognition rather than sit inside one product.
Amex is investing in a benefit customers can see, use, and associate with a premium card relationship. The disclosed visit count is a useful directional signal that the first Canadian location is being used, although it is not enough to establish unique-member penetration, incremental spend, retention, or return on investment.
This moves reward value beyond travel, merchandise, and statement credits into a longer-term financial relationship. A reward can now become the starting balance of an investment account, which makes loyalty relevant to product adoption and asset building rather than only the next transaction.
PNC’s FirstBank conversion page states that FirstBank consumer cards are automatically deactivated on September 15 if the replacement PNC Cash Rewards card has not been activated. Unredeemed FirstBank rewards were moved to the PNC Cash Rewards balance on June 25; the replacement card earns 4% back on gas, 3% on dining, 2% on groceries, and 1% on other purchases, subject to the page’s annual category cap.
American Express ended Membership Rewards Pay with Points redemptions for NYC Taxi and Saks Fifth Avenue on September 15. The issuer’s June 2026 program-updates notice identifies both as discontinued redemption options, rather than a change to the underlying Membership Rewards earn rate.
Chase is making a clear value trade. The card costs more and gives up some everyday earn, while concentrating the proposition in status, redemption savings, and benefits that frequent Air Canada travellers can recognize. This is a useful test of whether differentiated benefits can support stronger economics and sharper customer segmentation.
This is a meaningful reallocation of loyalty value across two large travel ecosystems. Hyatt is choosing which airline relationship will support earning, recognition, and elite engagement while managing the exit from an established partner. Financial institutions face the same portfolio decision when partnerships overlap, compete for customer attention, or stop producing enough differentiated value.
Status becomes more useful when a broader share of the customer relationship moves a member toward it. Adding Sunwing Vacations makes WestJet's recognition model more coherent across the trip and gives customers another high-value path to tiers and milestones. That matters to financial institutions because the ecosystem is connected to a co-brand card relationship.
Southbridge Credit Union launched its new online and mobile banking platform on September 9 after a one-day outage for the conversion. Members must complete an enrollment process and download the new app, while account numbers, transaction history, direct deposits, bill-pay payees, scheduled payments, and eStatements are intended to carry over.
This is more than another earn partner. It puts a broader rewards currency into a high-frequency customer routine and lets members experience value in both programs from one purchase. That is a useful model for financial institutions trying to make partner-funded rewards visible often enough to influence payment preference.
Carnival is bringing payment behavior, core travel activity, redemption value, and status progression into one system. That creates a clearer relationship proposition than a stand-alone co-brand card or a loyalty tier based only on product usage. Financial institutions can apply the same principle by making activity across products visibly advance a broader customer relationship.
Cornerstone Resources partnered with Rippleshot to make its Fraud Interceptor and Fraud Intelligence Collective available to Cornerstone member credit unions across Arkansas, Kansas, Missouri, Oklahoma, and Texas. Credit Union Times reported on August 28 that Cornerstone League represents more than 600 credit unions in those states and that the tools combine network-based fraud detection with shared intelligence on emerging threats. The announced arrangement is a vendor-access partnership, not evidence that every covered credit union has deployed the tools.
Payments are one of the clearest recurring engagement surfaces available to a financial institution. Central 1's results show that volume and adoption can produce meaningful revenue growth, but they also show why leaders cannot stop at engagement. The business still has to absorb pricing, operating, and regulatory costs and produce sustainable margin.
GECU Federal Credit Union announced on August 27 that the NCUA, FDIC, and New Mexico's financial-institutions regulator approved its acquisition of Bank of the Southwest. The organizations are scheduled to combine legally on November 1 and initially operate as independent divisions. GECU says the combined organization would have about $4.9 billion in assets and serve more than 449,000 members.
7 17 Credit Union's August 26 card-system upgrade expanded ATM access and set up a September 21 credit-card conversion. The new tap-to-pay credit cards will carry new account numbers, transfer existing ScoreCard points, and offer 3% cash back on groceries, 2% on gas and EV charging, and 1% on other purchases. The credit union says supported existing digital wallets will update automatically, while recurring payments should be monitored after conversion.
Keesler Federal Credit Union published the winners of its $1 Million Live Your Way Debt Eraser campaign, crediting portions of qualifying members' auto-loan balances directly to their accounts. Each winner received the lesser of six months of auto-loan payments or $3,000; the campaign's aggregate prize value was $1 million. Eligibility required a Keesler primary account in good standing and an active qualifying auto loan, while a mail-in entry route remained available.
Piedmont Advantage Credit Union members approved the proposed merger with Truliant Federal Credit Union at an August 25 special meeting, and the organizations are scheduled to combine legally on September 1. Piedmont Advantage will operate temporarily as a Truliant division while operational and system integration proceeds through the end of the first quarter of 2027. The combined organization is expected to serve more than 355,000 members, operate more than 40 locations, and hold about $6 billion in assets; existing Piedmont Advantage branches, digital banking, and support channels remain available during the transition.
America's Credit Unions reported on August 25, 2026 that youth-account, small-dollar-credit, earned-wage-access, rent-reporting, and creator-marketing partnerships are helping credit unions extend capabilities they may not be able to build alone. Its analysis cites Desert Financial's reported 32% increase in youth accounts opened after its youth-program launch and describes higher-than-expected youth debit-card use. The article also notes that many 2026 deployments are still too new to provide outcome data.
Penn East Federal Credit Union began its new digital banking experience on August 25, 2026. The launch adds a customizable dashboard, card controls, external-account aggregation, credit-score and financial-wellness tools, savings goals, personalized insights, and guided support through live screen sharing. Existing bill-pay payees, scheduled transfers, eStatements, account numbers, and mobile deposit are intended to carry forward.
ILWU Credit Union completed the final merger-phase conversion of Portland Local 8 Federal Credit Union Visa cards to its CARGO Rewards Visa on August 24, 2026. Members receive a contactless replacement card and new card number; the source says their APR and payment due date remain unchanged.
Ukrainian Credit Union began an Independence Day Festival offer on August 22 that covers the $150 membership share normally required for a new personal member to join. The offer runs through September 17, 2026, and members still receive access to the credit union's full product and service set.
The earn rates make the card competitive, but the more strategically interesting feature is the range of redemption destinations. Allowing members to move cashback into a deposit account can connect card spending with savings and broader relationship value. The availability of this option does not mean members will use it. Its impact will depend on how Rogue presents the choice and how attractive members find the different destinations.
On August 21, Eltropy reported that KeyPoint Credit Union replaced its intent-based chatbot with its agentic AI platform and built a debit-card-based authentication workflow. Eltropy says the credit union resolved 94% of member inquiries through AI, reduced chat volume 67%, and improved first-month voice service levels from 75% to 87%; these metrics are vendor-reported and not independently audited.
Adirondack Federal Credit Union said members should receive new Tap to Pay debit cards by August 21 ahead of its September 3 digital-banking launch. Its migration includes a new mobile app, redesigned statements and a $25 member dividend for eligible members, with a $50 maximum; members will need to activate the new card, update recurring payments and reconnect digital wallets after the conversion.
CUCC says it has launched an Open Data platform with Caspian One for Canadian credit unions and will manage onboarding, contracts, vendor relations, and governance. It also offers access to Interac Verified either alongside the open-data ecosystem or as a stand-alone service. CUCC's public announcement does not state a launch date; this change was observed on 2026-08-21.
America's Credit Unions reported that total credit-union loans rose 1.22% in June, versus 0.12% in May and 0.38% in June 2025, using Equifax Analytics data from an anonymized 10% sample of U.S. consumers with Social Security numbers. Unsecured personal loans grew 3.39% and credit-card balances grew 1.0% during the month, while first mortgages grew 1.91% and auto loans 0.4%.
Credit unions frequently position community connection as a competitive advantage, but that promise can be difficult for members to experience through everyday banking. A community-rewards marketplace could make the idea more tangible by creating a two-sided value exchange for members, participating businesses, and the credit union. The important development is the attempt to use community commerce as part of the credit union's relationship-growth strategy.
A required card conversion creates disruption. Members must take action, and every incomplete step can lead to service calls, interrupted transactions, or lost card usage. Leaders is using the migration to encourage three measurable behaviors tied to a successful digital relationship: card activation, digital-wallet provisioning, and electronic-statement enrollment. The incentive is therefore attached to operationally and commercially relevant actions, rather than generic engagement.
Hilton, Bank of Communications, and Mastercard launched two Hilton Honors co-branded cards in China. The cards combine everyday points earning with instant Silver or Gold status, spending-based paths to higher status, quarterly promotions, milestone rewards, and globally redeemable Free Night Rewards.
Wealthsimple added a 12-month digital subscription to The Globe and Mail as a selectable milestone reward. Qualifying clients can choose one reward at $200,000 in assets or net deposits, a second at $300,000, and a third at $400,000 or more from a catalogue spanning travel, wellness, dining, connectivity, estate planning, and premium content.
American Express and Resy began integrating Tock restaurants, wineries, and experiences into the Resy platform. Starting September 15, eligible purchases through Tock and at participating U.S. Tock venues will qualify for Resy Credits on eligible American Express cards, with the combined ecosystem covering more than 25,000 hospitality experiences.
Canadian Tire Corporation confirmed that Triangle Rewards will add Tims Rewards as a fourth strategic partner in fall 2026, joining Petro-Canada, RBC, and WestJet. CTC also reported that loyalty sales increased 3.1% and continued to outpace non-loyalty sales, while it extended free ship-to-home benefits to Triangle members.
JD Power's 2026 U.S. Credit Card Satisfaction Study found that 60% of surveyed card customers were classified as financially unhealthy, up from 56% a year earlier, while average monthly card spend rose $109 to $1,167. The study also found benefits usage fell to 2.3 from 2.5, only 29% of customers said their card use maximizes reward earning, and fraud incidence rose to 13% while proactive issuer outreach fell. The study was released August 13 and fielded 40,386 U.S. card customers from June 2025 through May 2026.
American Express Travel added more than 350 properties to Fine Hotels + Resorts and The Hotel Collection, bringing the combined portfolio to more than 3,400 properties across 116 countries. The larger footprint gives eligible cardmembers more places to use premium hotel credits, upgrades, breakfast, and on-property benefits.
EQ Bank launched its first major PC Optimum activation since becoming the program's exclusive financial services partner following the PC Financial acquisition. The campaign includes a national 25-million-point giveaway and in-store experiences at Loblaw-affiliated stores in Toronto, Vancouver, and Calgary.
On August 11, APL Federal Credit Union announced it selected Spiral for embedded Roundup Center and Giving Center experiences in Alkami digital banking. Members will be able to route debit-card purchase roundups to savings goals or charities, track giving and access donation reports.
On August 11, SchoolsFirst Federal Credit Union launched a promotion through November 10 that gives eligible cardholders 5% cash back or 5x points on qualifying gas and EV charging purchases, depending on card product. SchoolsFirst says average member card spend on gas is up 15% year over year, versus 5% for non-gas spending, and that about 77,000 members use its cards for gas monthly.
Air Canada announced a C$2.5 billion minority investment in Aeroplan led by Blackstone and La Caisse, with PSP Investments and BCI. The investors are acquiring a 25% non-controlling stake that values Aeroplan at C$10 billion, while Air Canada retains 75% ownership and full control of strategy and operations.
Delta expanded Delta Concierge to all SkyMiles members through the Fly Delta app. The AI-powered assistant uses trip and loyalty context to support flight status, disruption rebooking, cancellations, refunds or eCredits, bag tracking, mileage balances, status, and Medallion Qualification Dollar progress.
Bilt expanded Bilt OS for Hospitality into luxury travel, giving advisors tools for client relationships, bookings, payments, workflows, itinerary building, commission tracking, and self-service trip planning. Travel becomes Bilt's third major hospitality marketplace alongside housing and neighborhood dining and lifestyle services.
Wealthsimple clarified that when a linked household reaches a qualifying milestone, each member can independently select a reward based on the combined household relationship. Both members can choose the same reward, and additional reward slots become available at the $300,000 and $400,000 household milestones.
Effective August 7, 2026, BMO allows eligible Practical, Plus, Performance, Premium and discontinued Senior plan customers to earn Blue Rewards points on qualifying debit-card purchases after linking a valid Blue Rewards member number. The base earn rate is one point per $2 at eligible grocery, wholesale club, gas and EV-charging merchants, capped at 150 points on $300 of net eligible spend per customer per calendar month. Existing linked members must opt in through BMO Online Banking or the BMO Mobile Banking app, and the benefit expires December 31, 2027 unless extended.
Bilt expanded its Qatar Airways Privilege Club partnership so eligible U.S. cardholders can earn 3 Avios per $1 on up to $50,000 in annual rent payments processed through Bilt. The benefit adds direct partner-currency earning to Bilt's existing 1:1 points-transfer relationship with Qatar Airways.
BECU and SAFE Credit Union said on August 5 that the NCUA, Washington State Department of Financial Institutions, and California Department of Financial Protection and Innovation had approved their proposed combination. SAFE members still must vote; if approved, the combined institution is expected to close on January 1, 2027, serve about 1.8 million members, and hold more than $34 billion in assets.
Delta and Starbucks restored 1 SkyMile per $1 of eligible Starbucks spend for members with linked accounts beginning August 5. Continued eligibility is tied to completing a qualifying Delta flight within the previous 12 months, with a one-time grace period through October 5, while Double Stars remain available on scheduled Delta travel days.
Chexy expanded its Aeroplan integration to residential mortgage payments. Members can earn 1 Aeroplan point per $1 on eligible mortgage payments routed through Chexy from a Canadian chequing account without refinancing, moving the mortgage, or holding an Aeroplan credit card, subject to Chexy's 1.75% service fee.
Effective August 4, 2026, Rogers Bank applies annual limits to the cash back rates available to eligible Rogers-service customers on its Rogers Red Mastercard products. When annual spend exceeds the applicable limit, the earn rate falls to the lower available rate; the limit resets on the anniversary of account opening or product switch. Rogers continues to offer a 1.5x redemption bonus for eligible Rogers purchases made through its app.
Citi and American Airlines refreshed the Citi / AAdvantage Executive World Legend Mastercard with richer travel and lifestyle credits, 12X earning on AAdvantage Hotels and Cars, up to 40,000 bonus Loyalty Points through spending milestones, and automatic status with Omni Hotels and Avis. The annual fee increases from $595 to $695 on August 23.
BECU's promotion takes effect August 3, 2026 and runs through September 30. New members must open Member Advantage savings, checking and money-market accounts and bring at least $50,000 of funds new to BECU; the promotional rate applies to eligible balances of $50,000 or more. The offer requires the member to maintain the Member Advantage relationship, including monthly qualifying activity through debit-card use, online or telephone banking, or direct deposit.
Effective August 3, 2026, RBC's Value Program requires one qualifying monthly activity, rather than two, alongside eligible product holdings to receive a partial or full personal-account fee rebate. Qualifying activities include full payroll or pension direct deposit, a pre-authorized payment, or an eligible bill payment. RBC also increased certain paper-statement and safe-deposit-box fees on the same date.
Minnesota Session Law 2026, Chapter 93 takes effect August 1 and permits state-chartered credit unions to provide virtual-currency custody services to members in a nonfiduciary capacity, subject to applicable state and federal law. Before starting, a credit union must give the commissioner 60 days' written notice and maintain policies covering risk management, internal controls, cybersecurity, business continuity and compliance. The statute also permits qualified third-party providers or subcustodians, while retaining the credit union's oversight responsibility.
Wealthsimple's August Monthly Millionaire contest opened at 12:00 a.m. ET on July 30, 2026 and runs through August 26. A funded chequing account receives 500 entries, each dollar of net new funding earns one entry, each qualifying referral earns 5,000 entries, and eligible payroll direct deposit doubles entries. The contest includes weekly draws culminating in a $1 million draw on August 27, with a 100,000-entry monthly cap.
Delta launched SkyPicks, a free sports-prediction experience for SkyMiles members on U.S. domestic flights through Delta Sync Wi-Fi. Members aged 21 and older can predict outcomes from real sports matchups and compete for Delta gift cards without wagering, buying in, depositing funds, or using miles.
On July 29, the Federal Open Market Committee kept the federal funds target range at 3.50% to 3.75%. Three members preferred a 25-basis-point increase, while the statement said inflation remains elevated, partly because of supply shocks including energy prices. This is a confirmed monetary-policy decision, not a credit-union-specific rule.
InvestiFi announced a $20 million funding round led by Vibe Credit Union and joined by several credit unions and strategic investors. The CUSO said it had grown from four financial-institution clients in 2024 to more than 60 signed credit unions and community banks by July 2026, and offers investing from checking or savings within digital banking. Its current products include fractional stock and ETF investing, guided investing, IRAs, cryptocurrency trading and stablecoins.
Bilt expanded authorized-user capabilities with individual spending limits, merchant-category restrictions, card pausing, real-time transaction monitoring, separate card numbers, and a shared Bilt Points balance. Primary cardholders can add users as young as 13, and Bilt plans credit-building functionality for eligible adult authorized users.
Bank of America launched an enhanced Travel Center powered by Rocket Travel by Agoda, with more than 500,000 properties, flights from over 170 airlines, more than 170 car-rental companies, and more than 400,000 activities. Eligible customers can use rewards, combine rewards with card payments, and access improved search and mixed-airline itineraries.
Aeroplan members can now book Calm Air reward flights directly through Air Canada's website, mobile app, or contact centre and combine them with more than 50 other airline partners. The change replaces a separate Calm Air reservation process and improves access for travel to remote and northern Canadian communities.
Velera announced Risk Alert Manager on July 28 after a pilot with select credit unions. The tool combines cardholder-interaction data in one interface and supports near-real-time detection plus actions such as blocking or unblocking accounts, monitoring, card reissuance and account notes. Velera says rollout will be phased during 2026 and the current version supports Mastercard and Visa cards.
Payments Canada put a package of administrative and operational Automated Clearing Settlement System rule changes into effect on July 27, 2026. The amendments state that paper pre-authorized debits will no longer be eligible for exchange, clearing and settlement in ACSS from December 1, 2028, and also update rules for member definitions, clearing arrangements, mergers and bill-payment processes.
Utilities Employees Credit Union partnered with InvestiFi to let members access professionally managed portfolios, self-directed trading of more than 6,500 stocks and ETFs, and digital-asset investing within digital banking. The reported design allows trading to and from checking accounts and includes financial-education resources, keeping the experience inside the credit union relationship rather than directing members to a third-party app.
At the July 27 Financial Literacy and Education Commission meeting, Treasury focused on helping consumers, particularly younger Americans, assess information from social media, online communities and AI and navigate digital financial products safely. Treasury said Trump Accounts went live on July 4, reported 7 million enrolled children, and said the program includes age-tailored learning modules in its app.
Connection Credit Union reported that more than 130 formerly incarcerated participants have completed its Banking Beyond Bars program since December 2024. Participants receive education, mentoring, checking and savings accounts, and access to starter credit and auto lending; members who entered without a credit score averaged 686 after one year, and losses have remained minimal.
The July 27 comment deadline brought renewed industry scrutiny to the Federal Reserve proposal for limited-purpose payment accounts. Eligible institutions could use the accounts to clear and settle payments without interest, intraday credit or discount-window access, subject to balance and overdraft controls.
Payments Canada reported that KOHO is eligible to apply for direct participation in Canada's national payment systems and is applying to participate in the forthcoming Real-Time Rail. KOHO said direct access should provide faster access to funds, improve reliability and lower payment costs.
The Credit Union in Dalhousie, New Brunswick ended branch operations on July 24 and entered its final windup process. Members had already lost access to debit cards, ATMs, digital banking, e-Transfers and bill payments through a staged service shutdown.
Analysis presented on July 23 and published July 27 found that member growth at the average U.S. credit union was negative in the first quarter of 2026, with contraction concentrated among institutions below $500 million in assets. The accompanying industry analysis found that stronger performers generally did not spend more on marketing, but used member reactivation, better targeting and personalized outreach more effectively.
PYMNTS and Velera reported that most credit union members do not know whether their institution supports cryptocurrency or stablecoin transactions. Consumer interest rises when digital assets are presented through familiar digital-wallet experiences rather than as standalone crypto products.
New coverage of the July PYMNTS Intelligence and Velera study found that 61% of credit union account holders consider their credit union their primary financial institution, but only 48% make their credit union card top of wallet, compared with 69% of national bank cardholders. Rewards and incentives influence card usage for 44% of credit union members with a payment card.
America's Credit Unions and state credit union leagues asked Senate leaders to strengthen the CLARITY Act's treatment of stablecoin interest and yield. The current debate distinguishes incentives tied to transactions from rewards for simply holding stablecoins, while allowing federally insured credit unions to participate in digital-asset activities.
An S&P Global review connected Canadian credit union consolidation, digital investment, and Consumer-Driven Banking as strategic pressures. It estimates that roughly 360 Canadian credit unions hold $764 billion in assets and serve 11.4 million members, down from approximately 1,500 institutions in the mid-1980s.
TruStage launched a cyber-incident resource hub while continuing to investigate an incident first identified on July 11. Disrupted systems affected member-facing insurance and debt-protection services, and the company had not publicly confirmed the full scope of the incident as of its latest update.
Hilton Honors and Explora Journeys launched a partnership that lets members earn and redeem Hilton Honors Points on eligible luxury cruises booked through Hilton. Members can also access special rates, onboard benefits, and loyalty recognition beyond Hilton's traditional hotel footprint.
Innovation Federal Credit Union's Edmonton referral offer rewards both the existing member and the new member, but requires the new member to complete 15 transactions within 60 days. The offer is active from July 1 through September 30, 2026.
Vancity reported August 21 that second-quarter net income was $25.6 million and year-to-date net income before distributions and taxes was $70.6 million. Total loans and deposits each reached $27.1 billion, while the credit union said it is continuing investment in its new digital banking experience, member-focused branches, newcomer strategy and financial support for B.C. households and businesses.
Chase refreshed Sapphire Preferred with new earning categories, additional travel credits, and expanded protections while keeping the annual fee at $95. The update adds visible utility for travel and everyday purchases without relying on an annual-fee increase.
Aeroplan revised its Flight Reward Chart for select partner airlines, with both increases and decreases in required points for tickets booked or reissued from June 1. Air Canada said the changes align redemption pricing more closely with the underlying cost of partner-airline rewards.
Bank of America announced BofA Rewards, a broader successor to Preferred Rewards that consolidates tiers and extends the program to more clients. The top Premier tier packages financial benefits with subscription credits, fraud and identity monitoring, and lifestyle benefits when the transition takes effect in late May.
Wealthsimple launched Households, giving clients a shared view of household net worth, spending, and growth across Wealthsimple and external accounts. Combined household assets can help both members reach the $200,000, $300,000, and $400,000 milestone reward thresholds faster.
Metro Credit Union published its exclusive Massachusetts partnership with CUSO Traduality on August 23, 2026. The $3.2 billion credit union says all 18 branches have Fire Lingo Face-to-Face tablets and its back-office teams can use Fire Lingo Cloud to tailor documents, marketing, digital experiences, and education to members’ preferred languages. The partners also plan to develop future contact-center integration.
Chime launched Chime Prime, allowing members with qualifying direct deposits to earn 5% cash back in a selected category on the secured Chime Visa Credit Card, subject to a $1,500 monthly eligible-spend limit. The structure differentiates Prime from the lower 2% Chime Plus reward rate.
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