The $5.2 billion, Live Oak, Texas-based Randolph-Brooks Federal Credit Union recently paid more than $2.9 million in Gold Cash Back MasterCard credit card rewards to members just in time for last-minute Christmas shopping, the credit union announced.
Gold Cash Back MasterCard credit card holders earn up to 1% cash back on their net purchases, based on their accumulated yearly dollar purchases, according to RBFCU's website. RBFCU said since introducing the card in 1994, it has returned more than $30 million to members in cash back rebates.
"Our goal as a financial institution is to help our members save time, save money and earn money," said Sonya McDonald, senior vice president of planning and market development for RBFCU. "With our card programs, we save our members money on high-interest rate payments, and we allow them to earn cash back on each purchase, which they can then use to stimulate the local economy."
RBFCU's members also receive cash back for using their debit cards — in February 2012, the credit union paid $6.6 million in debit card rewards, bringing its total amount of debit card reward payouts to $22 million since 2007, RBFCU said.
The 60-year-old credit union serves more than 410,000 members at 40 branches in Texas.
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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.
