The Pennsylvania State Employees Credit Union announced this week it will offer a piece of a $10 million “Relationship Reward” program to its members for the second year in a row.
The reward is the equivalent of a dividend for members, like the dividend a publicly traded company would give to its shareholders.
“We’re extremely pleased to be issuing the Relationship Reward for the second year in a row,” PSECU President Gregory A. Smith said. “Thanks to our members, we’re as strong as ever and as a member-owned financial cooperative, it’s only right that we give back to them.”
The reward amount varies by member and depends on which of the credit union’s services a member uses.
Members who use PSECU’s financial planning services can receive $25, and members who use one of the credit union’s Visa credit cards are eligible for $10 in rewards.
Members can receive $5 for using each of the credit union’s service options: direct deposit, online or mobile banking, or e-statements.
There is also a calculation formula for total dividends earned and interest paid during 2013, with that amount multiplied by 4.113 percent.
Reward amounts and qualifications are identical for a business account.
Only members who qualify for at least $10 worth of rewards will receive it, according to PSECU.
Members can see their reward amounts through their online or mobile banking accounts or by calling 800-237-7328.