ICUL Service Corp., a subsidiary of the Illinois league, reported it distributed rebate checks totaling more than $335,000 to 733 credit unions. ICUL Service Corp. said it also paid out more than $19,000 to participating credit unions as part of its cuCheck "marketing challenge" aimed at helping small credit unions become more competitive by generating more accounts and activity. To participate, credit unions needed to place orders for, and utilize, free materials marketing their card program, and then reach certain goals increasing the number of accounts, the total dollars outstanding on the accounts, or sales volume set for each program.
More than 150 credit unions placed orders for the materials that resulted in more than 480,000 flyers being sent out to individual credit union members. This included 52 credit unions that participated in the credit card program, 21 in the debit card program, and 79 that participated in both programs. Of the 150 total CUs that participated, 47 met the challenge and received either a $300 or $500 one-time bonus, depending on the type of program in which they were enrolled.
