Coastal Federal Credit Union paying debit users MORE to swipe!
Posted September 30, 2011
As some banks are beginning to charge customers for using their debit cards, Coastal Federal Credit Union is actually offering a higher dividend rate for using their debit card! I just received a press release from Coastal about the benefit which indicates:
"Starting October 1, 2011, members can qualify for a new Premium Go Green Checking Tier. The new tier rewards members with a premium dividend of 2.51% APY when 30 or more debit transactions are posted to their account each month." The tier below is 1.01% rate with 12 debit card transactions. For more information on the new benefit, click HERE.
In addition, Willard Ross, SVP/Chief Retail Officer, says, "The most important thing is, members are asking when we’ll make a decision to charge a fee. We’ve decided. As long as there are no further, major changes to debit card revenue, we aren’t going to add a monthly fee.”
Good for you, Coastal!