RACINE, Wis.– Educators Credit Union said it is paying its members more than $2.46 million to reward them for their loyalty.
The deposit part of Educators' annual “Loyalty Pay Back Reward” which rewards members based on the number of products/services they use. Members who use three or four services received $15; those who use five or six services returned $50, and those who use seven or more services were paid $75.
“Educators is here to serve the needs of our members,” said CEO and President Linda Hoover. “One of the best ways we can thank them is to put money into their accounts as a reward for their loyalty.”
Educators Credit Union has been rewarding members with Loyalty Pay Back since 2009, and since that time has paid members more than $15 million.
The credit union has more than 170,000 members.
Other credit unions that have announced year-end bonuses to date:
- Goldenwest Credit Union, Ogden, Utah, which announced it will pay members a year-end bonus dividend of $1,750,000.
- Summit Credit Union, Madison, Wis., which is paying out $2.08 million in what it calls a “Cash Boomerang, to its members.
- Ascend Credit Union, Tullahoma, Tenn., which is paying out $5 million in bonus dividends and loan interest refunds.
- Andigo CU, Schaumburg, Ill., which is paying a $1 million “participation dividend” to its members in January.