Take advantage of our rewards program
When we say that it pays to be a MECU member, we really mean it! As a not-for-profit credit union, we give back to our members in many ways: better rates, lower fees, and our popular Bonus Rewards payout.1 For over 38 years, MECU has paid a special dividend to members – nearly $100 million in total!
With Bonus Rewards, you share in the credit union’s profits because you are not just a member, you are also a part-owner!
All members who meet the following are eligible for Bonus Rewards:
- You have a qualifying deposit or loan account relationship.
- You are a member in good standing — defined as $5 or more in your primary share account, no contractual loan delinquencies, and no negative account balances — at the time of payout.
- You meet the minimum Bonus Rewards payout, to be determined by the MECU Board of Directors each year.
Each year, the Board of Directors determines the total Bonus Rewards payout based on MECU’s overall financial performance. Individual Bonus Rewards are determined based on a member’s interest earned on qualifying savings accounts and interest paid on applicable loans.
For example, the Bonus Rewards for the second half of 2017 were calculated as follows:
- Bonus Dividend – 14.1% bonus dividend on total dividends and interest earned
- Loan Interest Refund – 2.53% refund on loan interest paid
- Cashback Checking
- VISA credit cards
- FHA mortgages
- Mortgages not serviced by MECU