Pure-play loyalty and rewards startups face a challenging battle: the need to please two masters, banks and merchants.

Location-based, loyalty platform Larky has been up to the challenge since its founding in 2012. The startup recently expanded its client base to include three additional credit unions:

• Wisconson-based Summit CU
• Maine Savings FCU
• Utah-based Goldenwest CU

The inclusion of Maine Savings FCU is a significant benchmark for Larky as it now reaches coast-to-coast across North America. Company co-founder Gregg Hammerman says Larky recently signed its first client in Canada and anticipates further international expansion. He notes the momentum being gained with financial institutions across North America, and reports that over the past year, Larky has made dozens of meaningful product improvements to meet the needs of credit unions that want to boost member loyalty and retention.

The Ann Arbor-based company’s web-and-mobile loyalty platform offers users discounts at the point of sale of both local and national merchants. The location-based, bank-branded alerts help banks stay top-of-wallet while offering users instant savings without changing their purchasing behavior.

When asked about the company’s plans for 2016, Hammerman noted Larky’s focus on refining how it serves up location-based notifications, and to further hone the company’s niche in customizable notifications.

Larky’s co-founders Andrew Bank and Gregg Hammerman demoed at FinovateFall 2014 in New York.

Since its appearance at FinovateFall 2014, Larky has expanded the types of industries it serves, adding paid pilots with publishers, health insurance providers, and other verticals.

A new mobile rewards program, “Lake Trust GO,” will soon be available to the more than 170,000 members of the Lake Trust Credit Union courtesy of a new partnership between the credit union and Larky.

“Our Larky-powered rewards program will produce tangible savings for members and create stronger and longer-lasting relationships that improve the health of our community-based credit union,” said Danielle Brehmer, Lake Trust Credit Union’s SVP for brand, strategy and culture. She believes the solution will grow Lake Trust’s commercial and retail membership as well as increase wallet share and interchange revenue.

Larky co-founder Andrew Bank called Lake Trust CU “innovative” and one of Michigan’s leading credit unions. Lake Trust Credit Union has more than $1.6 billion in assets and serves customers in a 35-county area in Michigan. Lake Trust CU was established in 2010 as Detroit Edson Credit Union (est. 1944) and NuUnion Credit Union agreed to merge to form what is now Michigan’s fourth largest credit union.

From left: Co-founders Greg Hammerman and Andrew Bank demonstrated the Larky platform at FinovateFall 2014.

Larky helps financial institutions, healthcare insurers, and membership organizations engage their customers and members by providing location-based discounts via “client-branded” online and web platforms. The solution supports local businesses, and Larky says that increased wallet share and better retention rates are among the benefits for banks. Lake Trust CU customers enrolled in the free GO local rewards program will receive discounts when paying with their Lake Trust credit or debit cards at the more than 220 local merchants around Ann Arbor, Brighton, Detroit, Grand Rapids, Howell, and Lansing. The standalone app is available on both iOS and Android.

The Lake Trust CU deployment follows news earlier this month that the Kentucky Bankers Association had selected Larky to provide mobile rewards programs for its member banks. The technology is also being used by Coast Hills FCU ($839 million in assets); Christian Financial Credit Union ($325 million in assets); and Chelsea State Bank ($290 million in assets); as well as by Blue Cross Blue Shield of Michigan.

Larky was founded in 2012 and is headquartered in Ann Arbor, Michigan. Founded by Andrew Bank and Gregg Hammerman, the company has raised more than $2 million in funding.