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AUSTIN, Texas — About 100 credit unions are successfully utilizing BancVue’s reward checking program to insulate balance sheets against flat yield curves and increased loan loss provisions.

It’s not the additional core deposits that generate revenue but a healthy increase in interchange income, thanks to reward requirements. Yes, members earn dividends comparable to special rate CDs, but interchange income from required minimum monthly debit transactions and savings from other required electronic access points, like estatements and online banking, make up the difference. There’s also a cap on the account, with excess balances earning next to nothing.

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