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Charter Oak Awards $848,000 To Members In Annual Bonuses

Published On: January 18th, 2024Categories: News & Events, Press Release

Total Gold Rewards Payout To Members Is Over $7.4 Million Since Unique Program Began in 2010

For Immediate Release
Contact: Ronald Wertz
VP-Director of Marketing

Waterford, CT – January 18, 2024 – Charter Oak Federal Credit Union awarded $848,000 in annual $100 cash bonuses in December to its Gold Rewards members, which is the largest annual amount since Charter Oak created the unique member-appreciation program in 2010.

“This is our 14th year of recognizing our Gold Rewards members for their support and loyalty to Charter Oak.  It is our way of saying thank you and letting them know how much we appreciate them,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “Because our members recognize the value and the great benefits that come with being a Charter Oak Gold Rewards member, our Gold Rewards membership continues to grow each year,” he said.

When Charter Oak first introduced Gold Rewards in 2010, a total of 2,590 members received annual $100 cash bonuses compared to the record payout in 2023 when 8,480 members received $100 bonuses. Charter Oak has awarded over $7.4 million in annual $100 cash bonuses to its qualified Gold Rewards members since the program began. In addition to the $7.4 million in annual cash bonuses awarded, Charter Oak also has returned over $3.4 million in ATM rebates to Gold Rewards members.

Charter Oak is the only financial institution in eastern Connecticut, including local 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 program to provide additional value and financial rewards for its members who have made Charter Oak their primary financial institution. Gold Rewards members receive an array of exclusive benefits, from the $100 annual bonus, to ATM rebates, 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, visit, 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 $1.54 billion as of December 31, 2023. For more information about Charter Oak’s broad range of products and services, please visit any of our convenient branches, call our Contact Center at 860.446.8085 or visit Federally insured by NCUA. Equal Housing Lender.

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!

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