PARCHMENT, Mich. – First Community FCU’s “Skip the Fee – Swipe for Free” debit card program resulted in $172,500 in debit fee givebacks and prizes to members, including a $5,000 grand prize.
First Community members were paid up to $5 each month based on their aggregate debit card point-of-sale (POS) transactions.
The credit union randomly selected 12 winners of $500 based on the previous week’s POS transactions, as well as one promotional grand prize winner of $5,000 for a total of $11,000 in prize giveaways.
Over the course of the promotion, credit union members also received more than $161,500 through the weekly giveback incentives. Overall, the credit union said it rewarded members with more than $172,500 through incentives and cash prizes.
During the promotion, the credit union saw an 11% increase in debit card purchases and a 9.2% increase in new accounts opened during the 12-week period, as compared to the same time frame from the previous year.
