Fort Lewis College will see extra cash over the next five years from a new loyalty debit card.
The FLC Forever Loyalty cards issued by Alpine Bank will generate at least $100,000 to be distributed to college departments, said Eric Eicher, market president for Alpine Bank in Durango.
The cards could generate more money depending on how many residents sign up, he said. Some of the bank’s similar cards generate $10,000 a month, he said.
Every time a loyalty card is used, 10 cents from the transaction fee will be donated to FLC, Eicher said. The cards are available statewide to allow alumni and college supporters to participate, he said.
As part of the card’s launch this week, the bank gave the college an initial $50,000 to be used for grants before December, Eicher said.
A committee including representatives from FLC and Alpine Bank will review applications for the open-ended grants, said Mark Jastorff, FLC vice president for advancement.
“We get to help virtually every corner of campus with no restrictions,” he said.
The first two grants from the loyalty card program were awarded this week. The Grub Hub, the campus food pantry, received $5,000.
The Glenna Sexton Development Fund also received $5,000, which will be distributed among students interested in pursuing certifications, attending workshops or participating in other professional development opportunities.
The new loyalty card was part of Alpine Bank’s pitch to FLC when it was competing with companies to provide the school with banking services, Jastorff said.
“We appreciate Alpine’s vision,” he said.
The school’s five-year contract with Alpine Bank includes the banking services and loyalty card program, Eicher said.
New students will be encouraged to sign up for accounts and cards at Alpine Bank to help support the school through campaigns led by FLC marketing students, Eicher said.