Charter Oak Federal Credit Union broke a record with this year's membership dividend.
The Waterford, Conn.-based credit union gave its highest-ever payout to its Gold Rewards member, the CU announced Tuesday, returning $532,000 to members in the form of $100 cash bonuses for the program's 5,326 participants. Since Gold Rewards was launched in 2010, the $1.05 billion-asset CU has given back over $3 million in cash bonuses and $918,000 in ATM rebates to participating members.
“These bonuses are Charter Oak’s way of saying a very special happy holidays to our Gold Rewards members,” Brian A. Orenstein, Charter Oak FCU’s president and CEO, said in a press release. “Each year, we’re amazed by the growth of our Gold Rewards program as more of Charter Oak’s members realize the many great benefits that come with being a Gold Rewards member.”