Nevada Encouraging Savings Only Members to Withdrawal Funds

The Las Vegas Review-Journal is reporting that Nevada FCU will pay members that only use the credit union for savings to withdrawal their funds.

Nevada Federal Credit Union estimates that about 1,600 of its 85,000 members only use the credit union for savings. Because these savings only members don't have other financial relationships with the credit union, they are costing the credit union money.

The credit union has cut the variable interest rates on deposits held by members that only save money to zero.

Also, the credit union will pay these members a bonus of $25 bonus for withdrawing amounts between $25,000 and $49,999; $50 for amounts up to $74,999; and $75 for larger amounts.