WINSTON-SALEM, N.C.— Allegacy FCU said it is expanding its All Health wellness account program to encourage members to exercise or volunteer at a local or regional YMCA.
AFCU members will have the opportunity to earn higher returns on savings based on the number of times a member visits the Y each month. Volunteering at or attending a youth event also counts as a visit.
Participants can earn a monthly dividend of up to 1% on a savings balance of up to $10,000. The dividend will be applied automatically to the savings account, according to the credit union.
“The savings program is designed as an incentive to be active at the YMCA,” Allegacy FCU and the YMCA said in a joint news release.
One visit a day, per household membership, can be counted toward the program.
The visit can be at any YMCA of Northwest N.C. branch, but not YWCA facilities.
According to Allegacy, in order to earn dividends on two separate YMCA memberships, two All Health accounts would need to be opened and each YMCA membership assigned to a respective account.
Each month’s dividend amount will be determined from the previous month’s YMCA visits. Branches will provide the number of visits to the credit union.
Both organizations want to play a leading role in promoting community wellness “and motivate members to keep being their best,” according to AFCU CEO Cathy Pace. “It’s the right thing to do for our members, employees and the community, which makes it the right thing to do for our business.”
Current Allegacy members are asked to convert an existing account into an All Health account to receive the dividend. New Allegacy members are required to bring a YMCA membership card and photo identification to a branch to open a wellness account.
“We want the community to know we are so much more than a fitness facility or gym,” said Curt Hazelbaker, the YMCA’s president and chief executive. “Our programs aim to benefit the mind, body, and spirit.”
Allegacy FCU has been focused on a number of health-related programs. Its All Health program provides health-risk assessments, free health and biometric screenings and face-to-face wellness coaching through Novant Health providers.
Since the inception of the All Health program, Allegacy reported that its employees have experienced a 50% reduction in their health-risk factors and have engaged with the program at a 95% participation rate.