WESTBURY, N.Y.–Jovia Financial Credit Union has introduced “Stash My Cash,” a program that allows members to “round up” spare change and place it in savings.
Each time a member uses their Jovia debit card to make a qualifying purchase, the program automatically rounds up that amount to the nearest whole dollar and deposits the difference into a member-designated savings account.
“Since we launched our Stash My Cash program, Jovia members have already saved close to $10,000 in month one,” said Chief Marketing Officer Renu Dalessandro. “We expect during the course of this initiative that members will save tens of thousands more within the first year. At a time when every dollar counts, we are certain that our loyal members will welcome the extra savings and it’s our way of rewarding them with this added value.”
The credit union noted online and recurring payments also qualify for the program, which requires a personal checking account with a debit card to participate.
PIN-based and signature-based debit cards transactions qualify for Stash My Cash; ATM transactions do not qualify.
The $3.8-billion Jovia Financial CU has more than 200,000 members.