Ent Credit Union pays $11M in rewards program
Ent Credit Union paid out more than $11 million to its members in 2018 through a rewards program.
The $5.46 billion-asset institution said on Monday that the program, called “Ent Extras,” rewards members based on their use of the credit union’s products and services, rather than their account balances.
Ent CU, which is based in Colorado Springs, Colo., said the annual payouts ranged from $10 for actively using online or mobile banking to $250 for taking out a corporate loan.
More than 300,000 member accounts received these rewards payments through a deposit in their primary savings accounts on December 1.
“We realize consumers today have a variety of types of financial institutions to choose from,” Chad Graves, Ent CU’s chief executive officer, said in a statement. “Our Ent Extras rewards program lets us remind our members of the value they receive by banking with Ent.”
Ent CU posted net income of about $42.2 million through the first nine months of 2018, a 9.7 percent increase from the same period in the prior year.