Wed, Jan 15, 2014
FedChoice Federal Credit Union understands this past year has been very trying for our members, many of whom either work directly for the federal government and/or have a family member that works in the federal community. With continuing pay freezes, higher costs for benefits plus the furloughs associated with sequestration and the Government shutdown, many FedChoice members are still recovering from the financial impact these circumstances had on their wallets in 2013.
In an effort to help our members keep more of their hard-earned money, FedChoice launched our Debit Card Rewards program on April 1, 2013. Since then, FedChoice has paid out over $110,000! At a time when most financial institutions are adding fees and charging more for their services, FedChoice is finding new ways to put more money in our members’ pockets.
And, just as some companies pay special dividends to their shareholders when a stock is doing exceptionally well, FedChoice, for the first time ever, issued a one-time Borrower’s Reward to members who paid loan interest in 2013. This reward represents three-percent of the interest paid on
qualifying FedChoice loans. This bonus has been issued to over 75% of FedChoice borrowing members, with a total pay-out of more than $165,000!
Between Debit Card Rewards and the Borrowers Reward bonus, FedChoice has deposited over $275,000 into our members’ accounts in 2013!
About FedChoice Federal Credit Union
FedChoice Federal Credit Union was originally chartered in 1935 when a group of Bureau of Internal Revenue (aka IRS) employees decided to establish a credit union to meet their financial needs. Since then, FedChoice has grown stronger each year by serving all federal civilian employees, retirees, annuitants and pensioners, and their family and household members in the Washington DC, Baltimore and Philadelphia metro areas. With six FedChoice branch locations, access to nearly 30,000 surcharge-free CO-OP ATMs, over 5,000 CO-OP Shared Branches, plus online and mobile banking, members may access their accounts 24/7/365. FedChoice has over 24,000 members and $353 million in assets.