The morning after Bank of America announced it will start charging customers a monthly fee to use their debit cards, here's some good news for fee-weary consumers.
Coastal Federal Credit Union, which operates 15 branches in the Triangle, said today it's going to pay its "Go Green" checking customers even higher dividends for frequent use of their debit cards.
In other words, instead of you having to fork out $5 a month to use your debit card, the credit union will pay you to use your debit card.
Starting Saturday, credit union members can qualify to start collecting a 2.51 annual percent yield dividend on a new Premium Go Green Checking account when 30 or more debit transactions are posted to their accounts each month.
Previously, Go Green accounts earned 1.01 percent annual percentage yield after 12 debit transactions.
Further, the credit union said it wouldn't add a monthly fee, barring major changes to debit card revenues.