The Credit Union Association of the Dakotas recently awarded $10,000 in rebates to member institutions through its “Member Engagement Rewards Program.”.
CUAD explained that it launched the initiative in early 2016 to reward credit unions engaging in CUAD activities, programs and services. MERP, the agency said, was developed to demonstrate to member CUs the association’s commitment to providing “best of class” dues-supported services that are “valuable and necessary for the best possible success in serving members.”
“The Member Engagement Rewards Program serves several purposes,” said Jeff Olson, CUAD’s president and CEO. “It provides an incentive for credit union members to up their ante, if you will, to have more ‘skin in the game’ as to their support and involvement in [Credit Union National Association] and league activities and initiatives while earning points for each activity.”
Olson added that members then have a choice of how they want to use their reward. “They can use it towards [paying] their league dues, for conference or education registrations, or they can even gift it to the Credit Union Foundation of the Dakotas or contribute to GAC scholarship funds,” he elaborated.
Indeed, this year, one of the largest CUAD member credit unions, the $1.2 billion Black Hills Federal Credit Union of Rapid City, S.D., gifted its rebate to a much smaller credit union with limited resources.
