Pennsylvania’s largest credit union, PSECU, has launched a new debit card rewards program.
Under the program, members who use their debit cards to make purchases of over $10 can earn 5 cents or 10 cents per transaction.
Members with a checking account and one or more qualifying monthly direct deposits totaling at least $500 earn 10 cents for each eligible purchase of $10 or more. Members without direct deposit will earn 5 cents for each eligible purchase of $10 or more.
Karen Roland, PSECU assistant vice president of marketing and communications, said it’s an attractive incentive that can help customers save money.
“From a business perspective, this model helps PSECU, too, since by offering money-saving value, we’re able to both retain existing members and attract new ones,” Roland said.
PSECU calculates its debit card rewards from the previous statement period and posts them to members’ regular shares on the first day of the following month.
Based in Harrisburg, PSECU has more than 450,000 members and over $5 billion in assets.