WOODBURY, MN (February 25, 2013) – Postal Credit Union (PCU) has announced it is returning nearly 20% of its entire 2012 earnings to members through their VIP Program. PCU is the only credit union in Minnesota to be running this type of program, and it is believed to be the first-ever program of its type in the state.
The VIP Program rewards over 15,000 PCU members with cash dividends of between $5 and $800 in automatic deposits in their accounts. The transactions hit members’ accounts in a one-time deposit on Thursday, January 10. Over $535,000 was returned to PCU members as a result of the program.
“The cash payout to members is our way to thank them for choosing PCU as their primary financial institution,” said Brian Sherrick, President of Postal Credit Union. “Our team works hard to operate an efficient, well-managed organization, which is the reason we can offer this unique membership benefit.”
The payout to members was calculated based upon several factors. Those members who had 144 or more withdrawals from their checking accounts in 2012 received a payout. Some members with a checking account at PCU received a Deposit Bonus Dividend based on their average deposit balances throughout the year. Other members were the beneficiaries of a Loan Rebate Dividend, calculated on the amount of interest the member paid in 2012. Many members were eligible for more than one reward based on qualifying through more than one of the programs available.
Founded in 1926, PCU is a member owned financial institution that specializes in providing excellent member service, great rates and convenience. PCU offers a complete range of services, including 24/7 loan approval, mortgages, online banking, online deposits, mobile banking, free checking, business services, investment services and more. PCU is proud to serve Anoka, Chisago, Dakota, Hennepin, Ramsey and Washington counties, with office locations in Eagan, Hugo, North St. Paul, West St. Paul and Woodbury. For more information, call 651-770-7000, 800-247-0857 or visit www.postalcu.org.