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Michigan Credit Union League

Community Choice Credit Union awards $2.1 million to members

Proving that Community Choice Credit Union members are truly owners, not just customers, the Credit Union gave back more than 50 percent of 2016 net earnings–more than $2.1 million–to members through its GetBigReward$ program. This is an increase of 9 percent over 2015 and a milestone for Community Choice.

“GetBigReward$ is our way of rewarding and encouraging our members’ financial goals. They are our partners and benefit from our shared success," said Rodger Rowland, vice president of retail delivery at Community Choice.

Now in its fourth year, the rewards program provides monthly credits and loan interest rebates to members who make the most of their memberships by using multiple products and services. Rowland says, “Members are taking notice and maximizing their participation at Community Choice.”

More than $6 million has been awarded to members since the program’s inception in 2013.

"This highlights the fundamental difference between Community Choice and traditional banks. As a member-owned co-operative, we are in the business of helping our members keep as much of their money as possible. This reward reinforces our commitment to give back to our members and to be their everyday trusted financial resource,” added Alan Bergstrom, chief marketing officer and senior vice president of Strategic Development.

The program works like this: There are four levels determined by the number of qualified products and services used -- Emerald, Gold, Silver and Copper. 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.

Throughout the year the credits can be used to offset or eliminate overdraft and other fees. At the conclusion of the year, any credits not utilized are deposited into member share (savings) accounts. For example, if a member has eight eligible Credit Union products and services, they–at the Emerald level–will receive $9 in monthly reward credits, annually accumulating $108 in rewards in their savings account. The top GetBigReward$ member received a payout of more than $1,300. Additionally, Emerald level members receive a loan interest rebate as high as 10 percent of the total interest paid on loans. Visit GetBigRewards.com to learn more.

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2017-02-20 00:00:00