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At a time when companies are laying off workers and slashing bonuses, Industrial Credit Union in Bellingham, Wash., is playing Santa.
To promote its newest branch in the upscale Bellingham business district and residential neighborhood of Barkley Village, the credit union temporarily has turned its lone surcharge-free ATM into a bonus machine.
The credit union has inserted 100 $50 bills among the stacks of $20 bills the ATM normally dispenses, says Matt Vance, Industrial Credit Union marketing coordinator. Anyone withdrawing cash from the ATM may get lucky and find a $50 bill instead of a $20 bill, but the transaction will not reflect the higher amount.
The credit union launched the promotion Dec. 3 after distributing marketing materials to 5,100 households living within two miles of the Barkley Village branch. The promotion tripled ATM traffic the first week, Vance says.
Industrial Credit Union wants to accomplish two goals with the promotion, Vance says.
"We want to give something back to the community during what could possibly be a tough holiday season for some," he writes in an e-mail message to ATM&Debit News, adding the promotion also is designed to increase the branch's ATM traffic. "We were looking for a fun way to bring people to us."
Industrial Credit Union is a community-chartered credit union, and anyone who lives in Washington can join. ATM
