Running counter to the trend which finds debit card programsgenerally and debit rewards card programs at major banks are undersignificant pressure, the 375,000- member Randolph-Brooks FederalCredit Union passed back $6.6 million to its members who used itsdebit card in 2011.
|The CU paid members 10 cents per debit card swipe for ninemonths of 2011, with an additional five cents per swipe during thelast three months.
|“At our credit union, we give our members many opportunities tosave money and earn money,” said Sonya McDonald, senior vicepresident of planning and market development for the $4.8 billioncredit union in Live Oak, Texas.
|“The fee-free Freedom Check Card and its cash back rewardprogram accomplish both, while at the same time providing an annualeconomic stimulus as our members spend and invest their rewards intheir communities,” McDonald said.
|Since the inception of the program, the credit union's FreedomCheck Card program has given more than $20 million back to Randolph-Brooks members, the CU said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
