Charter Oak Awards Over $575,000 in Bonuses to Members

Waterford, CT – Charter Oak Federal Credit Union awarded over $575,000 in annual $100 cash bonuses to its Gold Rewards members during December 2018, 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 Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “It's also a wonderful way for Charter Oak to say happy holidays to all our Gold Rewards members receiving this special bonus,” he said.

Charter Oak began its Gold Rewards program in 2010 and since that time the credit union has paid over $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.

In addition to the more than $3.6 million in annual cash bonuses awarded since 2010, Charter Oak also has 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 remains the only financial institution in eastern Connecticut, including both banks and credit unions, which pays out a $100 annual bonus to its members who qualify for the Gold Rewards bonus. Charter Oak created its unique Gold Rewards 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.

To learn how to qualify for Charter Oak’s Gold Rewards program, simply visit, or stop by any of Charter Oak’s convenient branches in New London or Windham counties, or call our Contact Center at 860.446.8085 or 800.962.3237.

Charter Oak is eastern Connecticut’s largest credit union with assets of $1.1 billion as of September 30, 2018. Charter Oak has an expansive and convenient network of 16 branches serving New London and Windham counties, providing one of the largest and most convenient branch networks of any financial institution serving eastern Connecticut. Federally insured by NCUA. Equal Housing Lender.

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Charter Oak Federal Credit Union is like a bank, just better! We've been proudly serving eastern Connecticut since 1939 and we offer great checking, deposit, lending, insurance and investment products. And because we’re a credit union, we’re owned by our members, not by shareholders. So we can offer lower rates on loans and higher rates on deposits. It’s easy to become a Charter Oak member: simply live, work, worship, learn, or volunteer in New London or Windham counties. So join today and see why Members Bank Better at Charter Oak!