First Community Federal Credit Union will return an estimated $200,000 to members as part of a three-month debit card campaign called “Skip the Fee, Swipe for Free,” the institution announced this week.
During November, December and January, Parchment, Mich.-based First Community will pay members $5 each month based on their aggregate debit card purchase transactions. The campaign will include random drawings for 12 winners of $500 each, and a grand prize of $5,000.
“We have never charged our members to use their debit card and have no intention of introducing a charge such as that being introduced by other larger institutions, including what Bank of America is planning for its customers,” Cheryl DeBoer, president of the $650-million credit union, said in a press release (
Meanwhile, Philadelphia-based American Heritage Federal Credit Union is offering new members up to $130 to join the credit union in November and open a checking account with direct deposit of net pay. The account also comes with a no-fee debit card, online bill pay and e-statements.
As part of a major television and radio branding campaign in the Philadelphia market that has increased membership significantly, American Heritage print advertising now also promotes the credit union as the “Home of the Free” with a listing of many of its free services.
The $1.1-billion credit union is offering members a $15 bounty for every new member they refer, up to $150.
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