ALBUQUERQUE, N.M. — New Mexico Educators Federal Credit Union's community rewards program repays not only members for their debit card use but their communities as well.
Participants in the program receive a rebate of 0.25% of purchases they make with their debit cards where they sign their receipts, and the credit union matches that with a 0.25% contribution in a specific area the cardholders designate.
The cardholders choose one of five areas where they want their money to go and then one of the nine communities the credit union serves, according to Sharla Reinhart, membership development director for the credit union. Reinhart said the credit union wanted a program which would first allow it to help bring meaningful change to their community and also help influence its members to use their signatures when validating debit card transactions.
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From its second full year, the program distributed more than $400,000 in rebates to its members and more than $400,000 to nonprofit and charitable institutions in the community.
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