WRAL SmartShopper

WRAL SmartShopper

Coastal Federal Credit Union paying debit users MORE to swipe!

Posted September 30, 2011 2:02 p.m. EDT

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!