Dupaco Credit Union is using location-based social media application FourSquare to reward customers who visit its branches with prizes ranging from koozies to the chance to feature on billboards.
The promotion - spotted by the FinancialBrand blog - enables people with the free FourSquare app on their phones to check-in at Dupaco's 12 branches in Iowa, Illinois, and Wisconsin.
The first time customers check in they get a free Koozie (can holders). Every time people use the system they are also registered for a weekly draw to win a $50 gas card. Customers who check in enough to become 'mayor' of the location will have their names featured on electronic billboards and branch signage.
Jennifer Hanniford, assistant VP, interactive marketing, Dupaco, says: "For Dupaco, the value in participating in the Foursquare social circle is engagement with people in a unique, viral way. When people check in to Dupaco, their Foursquare friends know they're here. They can tip off the Foursquare community about their experience. It's a genuine tool for user-generated reviews on venues."
Meanwhile, Asian bank DBS is using Facebook Places, a Foursquare-like app, to reward people who check in at branches in Hong Kong, India, Indonesia, Singapore and Taiwan with points. Users can also earn points by referring Facebook friends to DBS Places and getting them to participate.
The person with the most points in each country wins a two-night holiday for two in an Asian city of their choice.