PARCHMENT, Mich.-First Community FCU said it will return an estimated $200,000 to members as part of a three-month debit card campaign called "Skip the Fee, Swipe for FREE." During November, December and January, FCFCU said it will pay members $5 each month based on their aggregate debit card POS transactions. The campaign will also include random drawings for 12 winners of $500 each, and a grand prize of $5,000.
"We have never charged our members to use their debit card, and have no intention of introducing a charge such as that being introduced by other larger institutions, including what Bank of America is planning for its customers," said CEO Cheryl A. DeBoer. "This promotion is specifically in response to that situation in an effort to communicate the credit union difference to our membership, as well as to potential members who happen to be current customers of other financial institutions."
The $650-million First Community has approximately 78,500 members. Its debit card promotion is occurring as numerous other credit unions have announced similar efforts.
