HILLS, Mich.–Community Choice Credit Union is returning more than half of its 2016 earnings, $2.1 million, to its members through its GetBigRewards program.
The payout marks an increase of 9% over what it returned in 2016.
Members are paid according to which of the four levels of the program they qualify for — Emerald, Gold, Silver and Copper–- as determined by the number of product and service relationships. Members who are highly active in various Community Choice products and services can reach the top Emerald and Gold levels of membership. Each month Emerald and Gold level members receive credits to their GetBigReward$ account, and throughout the year the credits can be used to offset or eliminate overdraft and other fees, the credit union said.
At the conclusion of the year, any credits not utilized are deposited into member share accounts. For example, if a member uses eight CCCU products and services, they — at the Emerald level — will receive $9 in monthly reward credits, annually accumulating $108 in rewards in their savings account. Community Choice reported the top GetBigReward$ member received more than $1,300 in reward savings. In addition, Emerald level members receive a loan interest rebate as high as 10% of the total interest paid on loans.
“GetBigReward$ is our way of rewarding and encouraging our members’ financial goals. They are our partners and benefit from our shared success,” said Alan Bergstrom, chief marketing officer and senior vice president of strategic development at CCCU, in a statement.
More than $6 million has been awarded to members since the program’s inception in 2013.