Tuesday, May 21, 2013
$1,174: PFD Day Pandemonium
National chain and local stores geared for PFD day! See how some Alaskans are spending this year's PFD.
Permanent Fund Dividend pandemonium was in full swing Thursday as qualifying Alaskans with direct deposit found themselves $1,174 richer.
At the big box stores and malls, Anchorage residents turned out in droves for ways to spend their PFD dollars.
Places like Best Buy, Costco, and stores inside the Fifth Avenue Mall reported an increase in business throughout the day of both small and large purchases.
“We know there is going to be a lift in demand, so we work with our home office to get additional product in here,” said JC Penney manager Barbara White.
But not everyone was spending.
Wells Fargo officials say many came in to set up savings accounts to use the cash later.
“If people have kids, if they save part or all of their PFD every year towards college or whatever the goal is, that really adds up. Those who don’t have direct deposit should see a paper PFD check in the mail within the next couple of days,” said Elaine Kroll, disctrict manager at Wells Fargo.