PARCHMENT, Mich.–First Community FCU is reporting it has paid out more than $172,500 in rewards and prizes through the "Skip the Fee-Swipe for Free" debit card program launched in October 2011 as a way to remind members that not only are they not charged for active debit card usage, but that their regular swipes could result in monetary rewards.
During November, December and January, First Community members were paid up to $5 each month based on their aggregate debit card POS transactions. Twelve members won $500 based on the previous week's POS transactions, while member Brian Wilson won the grand prize winner of $5,000.
The promotion generated an 11% increase in debit card purchases and a 9.2% increase in new accounts opened during the 12-week period as compared to one year earlier.
