LOS ANGELES-Los Angeles Police Federal Credit Union says its hybrid carrot and stick "Member Benefits" program has added $155,023 to its bottom line since it was introduced six months ago.

Manny Padilla Jr., VP of marketing for the $759 million-asset CU, told Credit Union Journal the program combines both relationship pricing and product bundling to reward members for their use of credit union products and services, while adding fees for low-balance and low-activity members.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.