2022 Q3 Newsletter

CU Connection

SoCal A Publication for Members of Credit Union of Southern California
Summer 2022

INSIDE: 866.287.6225 | CUSoCal.org

§ Message From Our President/CEO
§ New and Upcoming CU SoCal Enhancements
§ We’ve Got Your Summer Borrowing Needs Covered
§ Adjustable-Rate Mortgages and New Homebuyers
§ A Healthcare Hero’s Stroke of Luck
§ Get the Summer Cash You Need With a Personal Loan
§ Financial Education Resources

Think Big for Better Value New and Upcoming
CU SoCal Features
CU SoCal is a different kind of financial institution.
One owned by you. Working for you. As a financial Our commitment to exceptional Member experiences drives us to
cooperative, it is through your loyal participation that continually improve through new products, services, and features.
we grow, which allows us to return greater value, service, We’re confident the improvements we have in the works will provide
and convenience to our more than 130,000 Members. enhanced value and convenience for our valued Members.
Our mission is to Build Better Lives Through Exceptional New Website Coming
Member Experiences, Every Time. This mission guides We are currently producing a new CU SoCal website. Though
our every move. It is our aim to continually adapt to CUSoCal.org will retain the same URL, the updated site will provide
accommodate the needs of our Members. As such, you a clean new look and streamlined navigation that we’re sure you’ll
can continue to expect additional enhancements to enjoy. Look for the new site to launch this fall. Stay tuned! Note, these
our technology over the next several months. Plans changes are to our public website and will not impact Digital Banking.
include launching an improved website to provide a Chat and Text Messaging Support
more comprehensive, streamlined experience for visitors; With the help of two new, powerful messaging tools, we can better
adding a new text and video platform to communicate serve our Members’ financial and service needs. With these new
new products, services, and account notifications directly resources, CU SoCal support representatives will be able to share
to Members and; adding a new messaging tool that their screen to guide Members through Digital Banking or website
will allow Members to communicate with Member Care inquiries in real time as they speak over the phone. Additionally,
Center representatives and obtain on-screen guidance Members can use two-way text messaging to communicate directly
through screensharing. Please read on for details. with CU SoCal team members. These powerful new features go live
It is my hope that you consider CU SoCal first for this summer.
all of your financial needs. We also appreciate your Continuous Pre-Approvals
recommendation to family and friends, so that we Later in the year, we’re launching an exciting initiative that will
can continue to offer enhanced value, service, and continuously display pre-approved credit offers in Digital Banking,
convenience to all those we have the privilege of serving. with a streamlined application. Accessing affordable credit will be
Thank you for your Membership. Because of you, we easier than ever!
continue to grow and are well positioned to provide you with
greater credit union value today and well into the future. We’ve Got Your
Sincerely, Summer Borrowing
Needs Covered
Dave Gunderson
President/CEO As the weather heats up, you may
be looking for extra cash, mortgage
options, or a new ride. We have
a variety of solutions to fit your
summer borrowing needs.
Save on Your Auto Loan
If you’ve been waiting for the summer to upgrade your ride, we’ve
got you covered. Buckle up for loan options on new or used cars or
refinance your existing loan from another lender for a lower rate. Learn
more about CU SoCal’s competitive auto loan rates and flexible terms
at CUSoCal.org/Borrow/Auto-Loans.
Choose the Right Credit Card for You
CU SoCal has two great credit card options to suit your financial needs.
Our Topaz Visa® Credit Card is a great choice for transferring high-
interest credit card debt to a lower rate. With our Platinum Rewards
Visa Credit Card you earn Dream Points on qualified purchases, which
can be redeemed for rewards or even cash! The choice is yours when
you visit CUSoCal.org/Borrow/Credit-Cards.
There’s No Place Like Home
Our lending experts specialize in helping SoCal residents find their
dream home or tap into their home’s equity. CU SoCal Real Estate Loan
Consultants are standing by to help you! Visit CUSoCal.org/Borrow/
Mortgages to learn about our mortgage options, and see if our
popular 5/5 ARM can meet your needs.

Qs As Ask CU SoCal

Dear CU SoCal,

I thought rising mortgage rates had priced Once the initial rate period ends, an ARM rate If you are planning to own a home for five
me out of the housing market, but a friend adjusts periodically. CU SoCal offers 5/1, 5/5 to seven years, an ARM is an excellent
told me an adjustable-rate mortgage could and 7/1 ARMs. The first number is the number choice since you can sidestep most or all
help me get a lower payment. Is that true? of years the initial rate is fixed. The second rate adjustments. If you are planning to
—Fullerton First-Time Buyer number represents how frequently the rate own a home for longer than five to seven
could adjust (in years) after the initial rate years, an ARM may not be the best loan
Dear Fullerton, period ends. The adjusted rate is calculated by choice for you.
Your friend is right! In times of rising mortgage using the ARM loan’s index and adding the
rates, adjustable-rate mortgages, or ARMs, loan’s margin. Visit our “Rates” webpage to see If you feel an ARM loan might be right for
become more appealing because their start our current ARM start rate, index, and margin you, schedule an appointment with a
rate is significantly lower than a fixed-rate for each program. CU SoCal Real Estate Loan Consultant to
mortgage, potentially reducing monthly discuss your specific needs and concerns,
payments by hundreds of dollars on a median ARM loans have interest rate caps that learn about all the mortgage options
priced home. For buyers priced out of the determine the maximum amount the rate can available to you, and learn how CU SoCal
market by rising rates, an ARM loan can be the increase after the first adjustment, how much can help you reach your homeownership
difference between achieving homeownership it can increase for all following adjustments, goals. Call 800.698.7196 to schedule your
and sitting on the sidelines. and how much it can increase over the life of appointment today!
the loan.

A Healthcare Hero’s Stroke of Luck

As a healthcare worker, Myriam was I couldn’t believe it! It was such a
drawn to CU SoCal partly due to Health surprise, because I always feel like
Care Heroes, a limited-time promo where I have bad luck and I never win
healthcare workers can qualify for lower anything. But then this happened, and it was
loan rates. She’s been a Member since incredible. I’m very thankful that CU SoCal
September 2021, and she received amazing does giveaways like this.
and unexpected news shortly after starting
her account. She was randomly selected as —Myriam of Fullerton
a $1,000 Splash of Cash winner.

Get the Summer Cash You
Need With a Personal Loan

Planning a summer getaway? Personal loans are a
great way to access the extra funds you need for a
variety of expenses, like family vacations.
• Financing from $500 to $30,000
• Low rates
• Flexible terms up to 60 months
• No application fee

To apply, visit CUSoCal.org/Borrow/Personal-Loans
or use Quick Apply in Digital Banking.

Has CU SoCal helped brighten your financial future? Share Saturday Seminars
your story for a chance to be featured on our website and
social media. Plus, every month we’ll randomly select two Join us for complimentary Saturday seminars held
$100 winners! quarterly throughout the year. Attend one seminar or more
—everyone is welcome!
Get the info at CUSoCal.org/Learn/Member-Stories.
Saturday, July 9
1. You must be age 18 or older to enter. Odds of winning depend on number of entries. Members
who submit their stories with the entry form will automatically be entered to win. Two $100 cash Fullerton Public Library, Library Conference Center
winners will be selected by random drawing from all entries each month. No purchase necessary.
Prize may be subject to tax reporting, applicable 1099 may be sent for tax purposes. To enter 353 W. Commonwealth Ave.
without making a purchase, mail a postcard addressed to CU SoCal Share Your Story, P.O Box 76000
Anaheim, CA 92809. Include your name and phone number. Each postcard counts as one entry, you UNDERSTANDING CREDIT | 10:30-11:15 a.m.
may enter as many times as you wish. Employees of CU SoCal and their immediate family members
are not eligible. Funds will be deposited into Member's checking or savings account within 30 days SoCal Wealth Management presents:
of winning. Offer subject to change without notice. RETIREMENT INCOME PLANNING | 11:30 a.m.-12:30 p.m.

Manage Your Money There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive
on the Go With outcomes.The purchase of certain securities may be required to effect some of the strategies. Investing involves risks
Digital Banking including possible loss of principle. Securities and advisory services offered through LPL Financial (LPL), a
registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered
Digital Banking allows you to handle your finances from through LPL or its licensed affiliates. Credit Union of Southern California (CU SoCal) and SoCalWealth Management are
your computer, tablet, or smartphone at home or on the not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services
go. To get started, simply download the CU SoCal App for using SoCalWealth Management, and may also be employees of CU SoCal.These products and services are being
iOS or Android, and register for Online Banking. offered through LPL or its affiliates, which are separate entities from, and not affiliates of, CU SoCal and SoCalWealth
Management.
Learn more at CUSoCal.org/Access/DigitalBanking.
Not Insured by NCUA or Any Other Govenment Agency
Go Green and Get a
Discount Not Credit Union Guaranteed Not Credit Union Deposits or Obligations May Lose Value

Going green pays off! Members who purchase or refinance BUYING A HOME | 12:45-2:00 p.m.
a new or used hybrid/electric vehicle are eligible for a
0.25% discount. The discount can be activated during the REGISTER: CUSoCal.org/Seminars
auto loan application process.
Webinars
Traveling During
the Summer? INVESTING IN REAL ESTATE
Tuesday, July 12 | 10:30-11:30 a.m.
Don’t forget to inform CU SoCal of your Thursday, July 21 | 5:30-6:30 p.m.
upcoming travel plans, in order to prevent
your cards from being frozen due to RAISING A MONEY SMART KID
“unusual account activity.” Tuesday, August 9 | 10:30-11:30 a.m.
Thursday, August 18 | 5:30-6:30 p.m.

PERSONAL FINANCE FOR COLLEGE STUDENTS
Tuesday, September 13 | 10:30-11:30 a.m.
Thursday, September 22 | 5:30-6:30 p.m.

REGISTER: CUSoCal.org/Webinars

FOR MORE INFORMATION & RESOURCES:
CUSoCal.org/Learn/Financial-Guidance

Contact Us

Member Care Center 866 CU SoCal (866.287.6225) HOLIDAY CLOSURES
Independence Day Monday, July 4
Monday-Friday 9 a.m.–6 p.m. Labor Day Monday, September 5
Saturday 9 a.m.–1 p.m.
Phone Banking 562.945.2214
800.249.2328 toll-free GROWING TO SERVE YOU BETTER Federally insured by NCUA
Members....................................131,456
Website CUSoCal.org Loans............................. $1,282,725,843
Email [email protected] Assets............................ $2,327,039,988
Find ATMs Text zip code to 91989 FINANCIAL HIGHLIGHTS as of 5/31/22.