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Growth of Customer Incentives Make GreenSense
April 22, 2009
April 22, 2009 - Citizens Financial Group has announced that it will expand its successful Green$ense program by $2 million to reward customers who choose to use their debit cards instead of writing checks. (via Business Journals)
Launched in October 2008, Green$ense refunds customers 10 cents for each electronic payment they make, up to $10 per month and $120 per year. With the introduction of new promotions that double the rewards for new customers, the company expects the annual impact of Green$ense to more than double by the end of the year.
“The benefits of this program show how small, everyday activities such as reducing paper-based transactions can have a tremendous impact on the environment,” said Theresa McLaughlin, Citizens’ chief marketing officer, in a statement. “We are pleased to offer this first-of-its-kind program to our customers, and proud of the impact it is having on our environment.”
A recent study finds that many financial institutions are offering green incentives to customers to stay competitive. Many are designing products specifically geared toward the eco-consumer such as home equity lines of credit for green home improvements, or auto loans with lower rates for customers buying vehicles that get more miles to the gallon.
“We are committed to helping our Citizens Bank and Charter One customers save more and earn more through innovative products and services that make a meaningful difference in their everyday lives,” McLaughlin added.