OMNI Community Credit Union, Battle Creek, Mich., on Wednesday said it will be awarding a cashback rebate to its membership for the 10th consecutive year.
Ted Parsons, CEO of the $391 million CU, told Credit Union Journal the estimated amount of the rebate based on member activity for 2017 is $1,375,000, an increase from previous years.
“The other point worth noting is back in 2008, when we started the cashback rebate, we paid out $604,618, so we have more than doubled our payback,” Parsons said. “Our total for the 10 years will be just over $9.3 million.”
OMNI Community CU said it tries to inject some “fun” into the program. Last year, there were scratch-off game pieces that gave members a chance to double their rebate. The credit union said those were so popular, they again will be offered at all branch locations. This year brings a new twist.
“We are putting $50 bills in several of our ATMs that will be randomly disbursed,” Parsons revealed. “There will be some very happy members when they see an extra $50 included in their cash withdrawal.”
“Our 10th year of giving back is a milestone; it is something special,” Parsons said. “It is hard to believe so much time has passed since the cashback rebate began, but it is a testament to how much members’ loyalty contributes to the soundness and success of their credit union. Being able to show our appreciation with a rebate is the epitome of the financial cooperative spirit.”
OMNI Community Credit Union has 37,742 members across Southwest Michigan. Anyone in Southwest Michigan can bank with OMNI.
