LIVE OAK, Texas Randolph-Brooks FCU gave members a $7 million Valentine’s Day present yesterday in the form of a debit reward.
The rewards were earned by members across south central Texas a dime at a time, as members received 10 cents cash back on every purchase made with their Freedom Check Cards.
The credit union’s program stands out from those offered by other financial institutions, because no fees or charges are required to earn cash back. “We don’t charge annual fees or make our members jump through hoops,” said Sonya McDonald, senior vice president of planning and market development for the $5.3 billion credit union.
The credit union’s reward program, which delivered a $6.6 million gift last year, has grown each year since its inception in 2007 and has totaled more than $29 million since then.