Qualstar Credit Union Thanks Members for a Great Year with $2.2 Million ‘Loyalty Bonus’

For the second consecutive year, Qualstar Credit Union is thanking its members for a successful year of strong growth and increased income with Loyalty Bonuses that will total $2.2 million. Letters announcing the bonuses will begin arriving in mailboxes today, and money will be deposited into accounts starting on Jan. 29.

CFPB Punishes Mortgage Company for Steering Customers to More Pricey Loans

The CFPB has cracked the whip on a Utah mortgage company which allegedly incentivized loan officers for steering consumers into high-interest loans.

Qualstar Credit Union Paying Out $2.5 Million in Loyalty Bonuses to 35,000 Local Members

Qualstar Credit Union is thanking its members for their continued loyalty by giving them back $2.5 million in bonus dividends this month. Individual bonus dividends range from $5 to several thousand, with the average member receiving a bonus dividend of $72.

Bonus Compliance Question of the Week

How does a federal credit union add different language to its charter to increase membership?

Compliance Question of the Week

If a credit union offers to deposit $25 in a member’s share account if the member refers an individual to the credit union, and this individual then opens an account, is the $25 considered a bonus?