LANCASTER, S.C. Founders FCU, which has rewarded members with as much as $10 million in year-end bonus dividends in recent years, announced it is converting the annual member payout to a loyalty reward.
The more Founders products and services that members use, the more they can build their Loyalty Dividend. By moving savings, credit cards, checking, loans and other accounts to Founders, members will increase their Loyalty Dividend payout.
The $1.6 billion credit union will make it easy for members to track their Loyalty Rewards with an online calculator at its website, according to Nicki Nash, senior vice president of marketing and community relations. Young members will be guaranteed at least $25 in order to encourage them to be active in the credit union, she told the Credit Union Journal.
Founders expects to pay a $5.8 million dividend for this year, she said.
"When we say we value our members, we don’t just say it, we put our money where our mouth is,” said Bruce Brumfield, president of Founders.
“The great thing about Founders Loyalty Dividend is that people who are not currently Founders members can move their accounts to Founders now and still qualify for a Loyalty Dividend,” said Brumfield. “As soon as you join Founders, your deposits and loans count toward your Loyalty Dividend.”
