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I'd actually prefer a higher interest rate!

Rather than rewarding the spending of money, why not reward us for keeping more money in your bank by giving us much higher interest rates? If you are willing to reward your customers 1-2% for purchases made on their debit and credit cards (removing even more money from your bank), why not offer that 1-2% interest rate on encouraging your customers to save more money in your bank? Seems like a much smarter move for a credit union who prides themselves on being member-owned, not-for-profit.

2 Comments
Trailblazer

@millca wrote:

Rather than rewarding the spending of money, why not reward us for keeping more money in your bank by giving us much higher interest rates? If you are willing to reward your customers 1-2% for purchases made on their debit and credit cards (removing even more money from your bank), why not offer that 1-2% interest rate on encouraging your customers to save more money in your bank? Seems like a much smarter move for a credit union who prides themselves on being member-owned, not-for-profit.


I quite agree.  If we are ever to become a healthier America, we need to stop rewarding people for going into debt.  No credit cards with reward programs.  No tax deductions for mortgage interest.  We need to be rewarded for stimulating the economy by spending from what we have, not from what we don't have.

BECU Employee
Status changed to: Further Consideration

@millca- Thanks for contributing! We are consistently monitoring the rate environment for opportunities and make adjustments as necessary. Our focus has always been on the entire relationship with our loyal members and on average, we return ~$184 to each member each year in better rates, lower fees, and affordable, accessible services. We do encourage our members to save in many forms! Cheers, KristinA