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Charter Oak FCU Awards $575,000 in Cash Bonuses to Members

WATERFORD, Conn.– Charter Oak FCU said it has awarded more than $575,000 in annual $100 cash bonuses to its Gold Rewards members, which is the highest amount ever paid since the unique program began nine years ago.

“Our Gold Rewards program continues to expand each year because it offers so many great benefits to our members, including our $100 cash bonus,” said President/CEO Brian A. Orenstein. “It's also a wonderful way for Charter Oak to say happy holidays to all our Gold Rewards members receiving this special bonus.”

Charter Oak began its Gold Rewards program in 2010 and since that time the credit union has paid more than $3.6 million in annual $100 cash bonuses.

“Gold Rewards members are our most loyal members so this bonus is our way of showing how much we appreciate them,” said Orenstein. “Many of our Gold Rewards members are also longtime members of our credit union who have enjoyed these $100 annual cash bonuses year after year,” he added.

Other Benefits

In addition to the more than $3.6 million in annual cash bonuses awarded since 2010, Charter Oak said it has also returned over $1.3 million in ATM rebates to its Gold Rewards members during that same timeframe. Gold Rewards has shown tremendous growth for Charter Oak, beginning with 2,590 $100 payouts in 2010 and increasing to 5,755 $100 payouts in 2018.

Charter Oak said it created the Gold Rewards program to provide additional value and financial rewards for its members who have made Charter Oak their primary financial institution. Gold Rewards membership brings with it an array of exclusive benefits, from the $100 annual bonus, to ATM rebates, special rates on deposits, discounts on new personal loans, and a $100 credit toward first mortgage closing costs with Charter Oak.


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