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Member Bonuses or Dividends

  • 1.  Member Bonuses or Dividends

    Posted Sep 18, 2020 10:31 AM

    Hi Everyone-

    Have been asked to post and see if there is anyway who currently offers their members Bonuses or Bonus Dividends based on their behavior?  Would you be willing to share as well as comment on how the program is received by your members?

    Thanks,

    Meg

     

    Meg Sisco
    Vice President of Marketing

    401-596-7000 Ext. 2117 | Direct: 401-637-4417 | Fax: 401-792-4624
    MSisco@westerlyccu.com | Visit Us At: www.westerlyccu.com
    4979 Tower Hill Rd, Wakefield, RI 02879


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  • 2.  RE: Member Bonuses or Dividends

    Posted Sep 21, 2020 11:14 AM
    I am pretty sure you are talking about year end bonus dividends which we do not currently offer. I know that several Credit Unions base it off of balances in Deposits and Loans accounts. It is tough to come up with a fair distribution of bonus dividends so we try to offer the most competitive rates on our accounts and loans.

    But we do offer a premier checking account that pays up to 3% ( as of last week) on checking balances up to 20,000. A member has to use Debit card 10 times in the month to get this offer.

    We have also recently introduced a Credit Card that pay 2% cash back. For the first 4 months the reward is doubled.

    Congrats on your list of awards, looks as if you guys are doing it right.

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    Jack Click
    President/CEO
    Associated CU of Texas
    League City TX
    409.945.4474
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  • 3.  RE: Member Bonuses or Dividends

    Posted Sep 21, 2020 12:58 PM
    Edited by David McElroy Sep 22, 2020 03:05 PM
    We have a program called Thank Use that we use for the purposes that you mentioned above.  The program is very well received by our members.  We change the categories up each year.  Like Jack was saying loan and deposits balances(we use interest paid on loans) have been a constant throughout the program, but we change the other areas.  Here is a link that has more information about our program.  I hope this helps.

    https://www.dupaco.com/about/member-benefits/thank-use/
    https://www.cutoday.info/Fresh-Today/Dupaco-Says-Thank-Use-By-Paying-Out-3.6-Million-to-58-000-Members

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    David McElroy
    Data Architect Supervisor
    Dupaco Community CU
    Dubuque IA
    563.557.7600
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