HOUSTON–Space City Credit Union here is paying its first-ever bonus refund to members.
Members who paid interest on loans during 2016 received a 1% interest refund. In addition, members who had a checking account in good standing and who used the CU’s rewards program received more than $30,000 in rewards.
“We [the board] have been talking about it for a while now and decided this year we could do it,” said Craig Rohden, president and CEO, in a statement first published by the Cornerstone CU League. “Credit unions are not-for-profit and should return everything we can to our members. We invested heavily in new technology this year (upgraded mobile app, P2P payments, free credit scores, account aggregation, and more) and pay better than market rates, but we still wanted to give more to our members. Our board is focused on our members, and we hope to increase the bonus every year.”
The $75-million Space City Credit Union has nearly 8,000 members.