ALBUQUERQUE, N.M. — Credit unions considering ways to hike the use of their debit cards, increase interchange income and strengthen links to their communities might take a page from the experience of the $866 million New Mexico Educators Federal Credit Union.
Wanting to both increase the use of its debit card in transactions members validate with their signatures, the credit union launched its community rewards program in 2006.
Cardholders enrolled in the program both receive a 0.25% rebate for their signature transactions and the credit union will match their rebate with contri-butions to a community and category that the member designates.
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