"Building off of the success of early referral programs with large brands including Envision Financial, the company is pleased to report that is now working with over 16 different credit unions, with over a third of those companies coming on board in the last quarter," the group told investors.
"The company now counts three of the largest credit unions in North America as clients.
"There are over 6,000 credit unions in North America, with over 1,500 in the direct target market for the company."
Credit unions enjoy a 93% satisfaction rating amongst existing members, according to a 2015 report
Members are therefore generally very happy to refer their credit union to friends and family, but have not had an easy way to do this outside of the branch.
"We are seeing an increase and acceleration in the interest levels amongst our credit union prospects and clients, which is evident through our 30 per cent growth rate in customers over the previous quarter," said Buzz Hemphill, vice-president of sales for RewardStream.
"Our platform offers extensive and powerful capabilities for any sized credit union, and we have quickly become the go-to leading solution in the market. We are excited to be engaged in the sales process with well over 100 credit unions to continue to drive growth."
Shares in RewardStream Solutions were unchanged at C$0.035.