HARRISBURG, Penn.– PSECU reported it has hit the $2-million milestone in cash rewards earned by users of its Founder’s Card during November. By the end of the month, 13,113 members earned $2,150,998 by using the card, which was launched in early 2017.
A long-time holdout on rewards cards, CUToday.info reported here that the credit union finally made the move after surveying the competitive landscape.
“Our 22 founders created this credit union so that members could get more out of life, and we are committed to giving our members the value that they deserve. To honor our 22 original members’ legacy, we created the Founder's Card so our current members can be truly rewarded – and this first $2 million milestone demonstrates that effort clearly,” said PSECU President Greg Smith in a statement. “These unlimited cash rewards are earned with every swipe, every order, every time. They never expire, and users can redeem them or apply them toward their balance.”
PSECU currently has the nation’s sixth-largest credit card portfolio among credit unions. The Founder’s Card is the credit union’s newest addition to its credit card selection. It offers two levels of cash rewards on all purchases. The 1.5% cash rewards rate is available to all Founder’s Card users. This rate is automatically elevated to 2% for those who maintain qualifying monthly direct deposits totaling at least $500 and have a PSECU checking account, the credit union said.
“At PSECU, it’s our goal to always offer the highest quality products and services to our members, and our Founder’s Card is just one example of the many ways we do that. We are pleased to see this card being accepted and used by so many members in such a short period of time. We are even more pleased to reward them for doing so,” said Barb Bowker, PSECU vice president of marketing and membership development. “The holiday season is in full swing, and with an uptick in spending during this time, members’ potential to earn cash rewards with the Founder’s Card also increases. I encourage members who haven’t signed up yet to take action and start reaping the Founder’s Card benefits.”