Charter Oak Federal Credit Union of Groton, Conn. has distributed a cash bonus totaling more than $270,000 to members of its Gold Rewards Program, the $684 million CU said.
More than 2,700 members received a cash bonus of $100, the CU said.
Charter Oak said it has paid out more than $530,000 to members in bonuses since launching the Gold Rewards Program in September 2010.
This year, Gold Rewards Program members will also receive a free polo shirt, the CU said.
Members who meet certain account relationship requirements are eligible for the Gold Rewards Program, which offers special year-round perks such as no ATM fees and a $100 credit toward first mortgage closing costs.
"Our Gold Rewards Program sets us apart from our competitors," Charter Oak FCU CEO Brian Orenstein said. "Our members love the $100 bonus and we are happy to reward members who bring their relationship to Charter Oak."
Charter Oak FCU serves more than 68,000 members in New London and Windham counties in Connecticut.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
