Members Cooperative Credit Union rewards member $1,000 for regularly savingStephanie Richards of Duluth was given a $1,000 check from her credit union last week.
Stephanie Richards of Duluth was given a $1,000 check from her credit union last week.
Last fall, Members Cooperative Credit Union (MCCU) launched a product designed to save the day when unexpected crises arise. MCCU’s Emergency Fund Account (EFA) offers incentives to EFA account holders who build their savings on a monthly basis through automatic transfers.
In 2009, MCCU awarded monthly $250 winners and a $1,000 winner at the end of the year. Richards was randomly selected and presented her $1,000 check by Tammy Heikkinen, president/CEO, and Ralph Hamann, vice president finance/CFO.
“This is the perfect timing to receive this money,” said Richards, who does not have health insurance coverage and opened an account to start building a savings cushion. Richards recently had emergency medical bills arise and plans to use the money to cover those expenses. “It’s really cool that my credit union started this program. I’ve never won anything – ever!”
Additional details and official rules can be found at membersccu.org. No purchase is necessary.