Our Thank Use campaign proved there’s power in participating in Dupaco’s member-owned, cooperative structure. Using more of Dupaco’s services put Thank Use cash in the pockets of eligible members.
Thank Use that members may have earned during the campaign was credited to their share savings account on October 19, 2017 – International Credit Union Day.
Earning Thank Use started with an active checking account
An active Dupaco checking account was required to begin earning Thank Use. Why does it matter? An active checking is a strong indicator of a member's commitment to their cooperative, so it was required to earn Thank Use for the co-opportunities members participated in.
Members must have met ONE of the qualifying criteria below for their checking account to be considered active:
To be eligible for Thank Use, you must meet Dupaco’s definition of having an active checking, and meet all other campaign eligibility requirements.
Savings co-opportunity earned up to $75
During the Thank Use campaign, members who built their savings balances could have earned up to $75 in Savings Thank Use when they also have an active checking. Qualifying deposits included savings, money market, IRA, term share certificate, and health savings accounts (checking balances are not included). Here's how it broke out:
|Combined Savings Balances on 9/30/17||Thank Use|
To be eligible for Thank Use on savings balances, you must meet Dupaco’s definition of having an active checking, meet all other campaign eligibility requirements, and have a balance of $500.00 or more in combined deposit accounts (savings, money market, IRA, term share certificate, and/or health savings) on 09/30/17. Checking account balances were not included.
Loans that members brought to Dupaco were a co-opportunity to earn up to $75 in Loan Thank Use when they also had an active checking. Qualifying loans included: Auto, recreational vehicle, personal, home equity and mortgage. Here's how it broke out:
|Combined Loan Balances on 9/30/17||Thank Use|
To be eligible for Thank Use on loan balances, you must meet Dupaco’s definition of having an active checking, meet all other campaign eligibility requirements, and have a minimum of $500 in total qualifying loans (auto, recreational vehicle, personal, home equity, and/or mortgage) on 09/30/17.
Purchases made with a Dupaco MoneyCard debit card and/or Dupaco VISA credit card earned $0.04 for each eligible transaction with this Swipe co-opportunity if a member also had an active checking account! Here's what card swipes potentially earned in Thank Use:
|Dupaco debit MoneyCard||$0.04 per transaction|
|Dupaco VISA credit card||$0.04 per transaction|
To be eligible for Swipe Thank Use, you must meet Dupaco’s definition of having an active checking, and meet all other campaign eligibility requirements, and use a Dupaco MoneyCard and/or VISA for transactions. You received $0.04 for every transaction posted to your account from 1/01/17 – 9/30/17 (excludes ATM transactions). (Transactions may have taken up to 3 business days to post to your account.)
Going green was our members' co-opportunity to earn green -- $20 in Thank Use for eDelivery if they had an active checking! Here’s how they earned:
To be eligible for eDelivery Thank Use, you must meet Dupaco’s definition of having an active checking and meet all other campaign eligibility requirements, and: must be enrolled in eNotices, AND opted out of mailed monthly member statements, AND opted out of mailed monthly VISA statements (if a VISA cardholder) as of 9/30/17.
|Your Number of Individual Transactions||Thank Use|
Why does using your card matter? As a member-owned cooperative, the more members use Dupaco, the more everyone grows and benefits. Our group goal exemplified just that. What’s more, our debit and credit cards give you free money management tools, with account alerts and access to Shine, where you can verify and search transactions on your cards.
To be eligible for Thank Use for the Swipe group co-opportunity: total consumer debit and credit transactions must reach or exceed 12.5 million using a Dupaco Moneycard and/or VISA posted between 1/01/17 – 9/30/17 (excludes ATM transactions), then, members who meet Dupaco’s definition of having an active checking, meet all other campaign eligibility requirements, and have a minimum of 100 Dupaco MoneyCard and/or VISA transactions posted to your account from 1/01/17 – 9/30/17 (excludes ATM transactions) will receive a bonus based on their transactions during that time period. (Transactions may take up to 3 business days to post to your account.)
QUALIFICATIONS: Personal member with an active personal checking account and a primary savings account minimum balance of $25.00 or more on 9/30/17.
INELIGIBILITY: The following are not eligible: personal members with a loan or deposit charge-off in 2017, personal members with a loan delinquent by 60 days or more as of 9/30/17, or personal members with a negative checking account balance for 30 or more days as of 9/30/17; business members and trust members with an EIN; business accounts under personal memberships.
PAYOUT: Thank Use posts to the member’s primary savings account on 10/19/17 and may be reportable on IRS form 1099-MISC.
LIMITATIONS: To receive Thank Use, membership on 10/19/17 is required. Account relationship, loan and deposit balances, and number of transactions are based on a single member number and cannot be combined or shared with other member numbers.
ACTIVE PERSONAL CHECKING DEFINITION: Must meet one of the following criteria: a.) If member had direct deposit into checking account, then 5 or more check, debit, or automated clearing house (ACH) transactions were required on or before 9/30/17 OR b.) If member did not have direct deposit into checking account, then member must have 10 check transactions, or 8 debit transactions, or 5 automated clearing house (ACH) transactions, or 3 bill pay transactions on or before 9/30/17.