Charter Oak Awards Over $438,000 in Gold Rewards Bonuses

Waterford, CT – Charter Oak Federal Credit Union has awarded over $438,000 in annual $100 cash bonuses to its Gold Rewards members in December – a new record for the credit union – and the total payout of bonuses since Gold Rewards began has grown to more than $2 million.

“Gold Rewards is our unique way of saying thank you and happy holidays to the increasing number of members who choose to make Charter Oak their primary banking institution,” said Brian A. Orenstein, Charter Oak's President and Chief Executive Officer. “The popularity of Gold Rewards grows each year, as more of our members recognize the many benefits of Gold Rewards, including our special $100 bonus during the holidays,” he said.

Since Gold Rewards was created in 2010, the overall membership and total cash payouts have soared nearly 70 percent. In addition, during that same timeframe, Charter Oak has returned nearly $532,000 in ATM rebates to Gold Rewards members.

“Exceeding the $2 million mark in total bonus payouts is a major milestone for our credit union and our members,” said Orenstein. “It’s a reflection of our financial strength and growth, as well as our strong commitment to provide better banking for our members,” he said. “Charter Oak is also proud to be the only financial institution in eastern Connecticut to pay out $100 annual bonuses – which we’ve done for six consecutive years.”

When Gold Rewards was initiated in 2010, a total of 2,590 members received their annual $100 bonus. This year, Charter Oak paid out $100 annual bonuses to 4,385 members – a 69 percent increase in the number of members receiving their annual cash bonus.

Charter Oak created Gold Rewards to provide additional value and financial rewards for those credit union members with important account relationships. The special membership-appreciation program offers a broad array of benefits, including a $100 annual bonus, ATM rebates, special rates on deposits, discounts on new personal loans and a $100 credit toward first mortgage closing costs.
For more information about Charter Oak’s Gold Rewards program, including how to qualify, please visit CharterOak.org, or stop by any of the credit union’s branches in New London or Windham counties, or call 860.446.8085 or 800.962.3237. Federally insured by NCUA. Equal Housing Lender.

Charter Oak Federal Credit Union, headquartered in Waterford, Connecticut, offers a broad range of financial services – including checking, deposit, lending, insurance and investments – to individuals, businesses, non-profits and professionals in New London and Windham counties. If you live, work, worship, attend school, or volunteer in New London and Windham counties, we invite you to do business with us. For more information about what Charter Oak can offer you, please visit CharterOak.org.