FORUM Credit Union, Indianapolis, Ind., gave back $1.7 million in rewards to its members in 2017, the CU announced recently.
The $1.3 billion-asset institution returned the bonuses to members through a variety of savings and prize based rewards programs.
One of the programs is a Weekly 5 Savings Account where a member was randomly selected to receive $5,000. Members who use this account randomly receive weekly and annual cash prizes from this account ranging from $50 to $5,000.
FORUM CU member and Weekly 5 winner Gregory Horine checks his account every week for prizes.
“I have been a member since 1989, and the Weekly 5 Account is a great way to save,” Horine said in a press release. “I was thrilled to hear I won the grand prize! It’s a perfect start to the new year.”
In addition to the Weekly 5 winner, FORUM gave $1,378 to a random participant of the 52 Week Money Challenge. The challenge requires that participating members save $1,378 over the course of 52 weeks.
FORUM Credit Union's Sprout account – a supplemental savings account to go along with federal college savings programs – is another way the credit union gives back. Every year, the credit union matches 10% of what is put into the account, up to $100. The match bonus is given on top of the savings account's existing interest rate.
Members also receive dividend bonuses from the CommonCents account which automates savings for every signature based debit card transaction the member makes.
FORUM Credit Union also gave back with credit card rewards as well as with $165,000 in educator grants and scholarships in 2017.
