The Loyalty Program for Yacht Club Memberships rewards members for continued participation by providing Loyalty Credits that can be redeemed at any time as credit towards expenditure at the club, or saved up to cash out later.
For every year that a member remains active and in good standing with their yacht club, they will be allocated a fixed amount of Loyalty Credits determined by their program term and Initiation Fee. The member will continue to accrue these credits each year, up to a maximum value of 100% of the original Initiation Fee or until they choose one of the annual redemption options available.
Some clubs may also offer Loyalty Credits based on monthly or annual dues that can be redeemed against future club expenditure.
With no complicated qualifying rules, our loyalty program is the perfect accompaniment to build even more value into your yacht club membership.
Our Loyalty Program is included in the Initiation Fee of a yacht club membership, and has a pre-determined length of time before a member can be rewarded with 100% of the Initiation Fee back, with the flexibility of early redemption at any time.
Loyalty Credits are accrued for each year of active membership, and can be redeemed from the very first completed year towards any qualifying expenditure at the yacht club, which may include dues, food and beverage credit and special event tickets. Once members reach the halfway point of the loyalty program term, they also have the option to simply redeem their Loyalty Credits for cash up to a maximum of the original purchase amount by the end of the pre-determined loyalty program term.
A member may only redeem one-time per loyalty program, so the longer they remain a member, the more club credit or cash back they receive.
Redemption is simple. If a customer redeems as club credit, the yacht club will take care of everything and apply the value to the members’ account. When redeeming for cash, this is done through their SafeGuard Customer Portal using a simple form detailing where they would like to have the funds deposited. Any redemption will signify the end of the loyalty program.
All SafeGuard Loyalty Programs are secured through an insured structured finance model that provides a pre-determined value after a pre-determined length of time, without the risk of market fluctuation. All applicable funds are held in trust and protected by A-grade specialist insurance to guarantee all qualifying payouts.
This structure ensures that the value of the customer’s Loyalty Program is secured separately so that in the unlikely event that anything happens to the yacht club, or even SafeGuard, that their accrued Loyalty Credits will still be redeemable through the trust up to the maximum agreed amount.