Who doesn't want more money in their pockets?
In early 2011, ABNB Federal Credit Union made a commitment to help members save money.
In response to the question "What can we do to improve our member's lives and relieve them of some of their financial challenges?" the Chesapeake, Va.-based credit union launched the Honest to Goodness Savings promotion.
The initiative has allowed members to refinance their loans from other financial institutions with ABNB Federal. With a goal of saving its members $1.5 million by lowering borrowing costs and reducing bank fees, the credit union has actually surpassed that goal with a collected member savings of over $1.9 million.
"I really love this opportunity to help our members. As a branch manager, I see members come in everyday with apprehension and a look of despair. It's nice to be able to work with them and find ways to ease the burden," said Denise Sturgis, relationship manager at ABNB.
Along with saving members money, the credit union has also rewarded members for their hard work. Each month, members that qualify will be entered into a drawing to receive $500 cash. Recent winners have included Teresa Sparks and Zakiyyah Miser. In addition, all monthly drawing winners will be eligible to win one of two grand prizes of either a cruise vacation or free maid service for an entire year.
"This is not new, ABNB has always been about how we can help people improve their lives," said Carl Ratcliff, CEO of ABNB. "We are just now telling people about it. We will continue to take this approach and be the answer for the hardworking individuals of Hampton Roads."
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