USA Today notes CU debit card program
PALO ALTO, Calif. (9/4/09)--A credit union's debit card reward program was noted by USA Today Tuesday in an article about how debit-card issuers are instituting new reward programs as consumers use their debit cards more during the recession.
Addison Avenue FCU--a $2.375 billion asset credit union based in Palo Alto, Calif., primarily serving employees of high-tech companies--is offering new perks to members who use their debit cards a specified number of times, the nationwide newspaper said.
Addison started a checking account in July 2008 to pass on to members some of its income when debit cards are used, Benson Porter, Addison CEO, told the paper.
Credit union members earn 3.51% interest on their money in Addison's Dividend Rewards checking account if they make a minimum of 12 debit purchases per month, make one electronic deposit per month and agree to receive online statements, Porter told the paper.
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