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Texas-based electricity provider TXU Energy has become well-known in the state for its popular Cash Back Loyalty Reward program, but what many might not be aware of is exactly how much the program has helped the Texas economy.
TXU introduced the cash back program in 2007, offering a prepaid Visa gift card worth a portion of their annual electricity bill to customers who paid all of their bills for the year on time. In 2011, TXU passed $100 million given back to its customers and now another $36 million is ready to be paid out.
“Last year, our Cash Back Loyalty Reward Program helped put more than $30 million back into the hands of our customers, which helped support the Texas economy,” Michael Grasso, chief marketing officer at TXU, said in a statement.
TXU went a step farther than simply handing back the money, tracking where all those rewards went. Much of it went to food, with $8.6 million in groceries and another $5.5 million for restaurants. Some went to energy, with going $2.8 million to gas and $1.4 million given to utilities. Another $1 million was spent on home improvements and much of the rest went to odd costs like the vet and buying sports equipment.