’ A Publication for Members of Credit Union of Southern California SoCal Summer 2023 CU Connection INSIDE: § Message From Our President/CEO § A Checking Account That Pays and Protects § What Is Rewards+? § Jobs May Change. Your Credit Union Doesn t Have To § Special 4.50% APY Share Certifcate § Financial Wellness Resources 866.287.6225 | CUSoCal.org
months will be credited annually within 60 days of account opening anniversary date. Member must have a Rewards Checking or Platinum Rewards Visa® Credit Card to receive annual bonus points. Rewards+ Members are eligible annually for one free box of corporate image design checks. Call or visit a CU SoCal branch to place your order. Member must be in good standing to qualify. Ofer subject to change. A Smart Move for Your Money Recently, Credit Union of Southern California (CU SoCal) saw a surge of consumers who were fed up with other financial institutions and wanted to understand the difference between banks and credit unions. Many say the bank failures over the last several months inspired them to move their money to an alternative safe haven that is financially safe and more connected with the people and communities they serve. As a valued Member of CU SoCal, you’ve already made the decision to bank with a safe, trusted financial institution, and we are honored to serve you. We also encourage you to get the full benefits of your CU SoCal Membership by considering us for all of your banking needs. What sets CU SoCal apart from other financial institutions is our focus on our Members’ best interest. As a not-forprofit financial cooperative, we are focused on the people we serve: you. We’re here to help you make the most of your money, not make a profit for shareholders. An example of this is our new Rewards+ package. You spoke. We listened. Thousands of Members shared with us what matters most to them and we developed Rewards+ as a result. Another example is our high-rate certificate promotions and deposit products. More of our Members are seeing the overall value CU SoCal offers and are trusting us with more of their deposits. In fact, in the first quarter alone our deposits grew by 10%. And, thanks to our partnership with Printing Industries Credit Union, we’re pleased to now offer you a branch in Riverside. CU SoCal is a different kind of financial institution: one owned by you and one working for you. Our not-forprofit status ensures you’ll always be more than an account number and that banking with us is a smart move for your money. Thank you for your continued support and partnership. We’re honored to serve you and appreciate your referrals to family and friends. Sincerely, Dave Gunderson President/CEO A Checking Account That Pays and Protects Rewards Checking from CU SoCal creates value in more ways than one. Earn CU SoCal Dream Points on debit card purchases1 , earn dividends on your balance, and receive full-service identity theft restoration services2 . GET THE MOST OUT OF YOUR CHECKING ACCOUNT WITH: Cash back and rewards on debit card purchases. Nationwide access to more free ATMs than just about any bank, anywhere. Fully-managed identity theft recovery services. Contactless payments. A Rewards Checking Account also puts you one step closer to qualifying for Rewards+3 , our Member loyalty program that ofers valuable fnancial benefts, such as an auto loan rate discount, a Dream Points bonus, and more. Interested in a Rewards Checking Account that pays and protects? Visit your local CU SoCal branch, call 866.287.6225, or visit www.CUSoCal.org to get started. 1. Qualifed purchases are all CU SoCal Debit and Credit Card purchases except: cash advances; balance transfers; convenience checks; quasi-cash (purchases that are directly convertible to cash such as casino gaming chips, money orders, wire transfers, travelers checks); fnance charges, fees, and credit insurance, purchases made by or for a business, unauthorized/fraudulent transactions, debit card purchases for less than $1.50. Qualifed debit purchases will result in one (1) point for every three dollars ($3) spent, rounded at each increment of $1.50. Note, beginning August 1, 2023, qualifed debit purchases will result in one (1) point for every fve dollars ($5) spent. Bonus points are occasionally awarded for merchant specifc and CU SoCal special promotions. All transactions and points are subject to verifcation. The point balance is the total of points awarded, less points that are deducted for returns and adjustments. If a transaction is subject to a billing dispute, the point value of the transaction may be deducted from the point balance during the dispute period. If the transaction is reinstated, the points will be reinstated. 2. Available to all named account holders, and extends to three generations of your family. Family members include the primary account holder, primary account holder's spouse or domestic partner, primary account holder's dependents under the age of 25 with the same permanent address, any IRS-qualifed dependents of the primary account holder, and primary account holder's parents (mother or father) with the same permanent address, or who are registered in a senior assisted living facility, nursing home, or hospice. Services continue up to 12 months after death for all family members. 3. Ofer efective April 12, 2023. Monthly Rewards Checking fee will be waived the following month the account is eligible for Rewards+. Auto loan rate discount is up to .25% and applies to loans funded on or after April 12, 2023. The rate discount starts in the month you become eligible to receive Rewards+ benefts. If you are eligible for Rewards+ benefts at the time of funding, the loan discount will be refected the following day. Rate cannot go below the current foor rate. Qualifed Signature and/or POS based transactions must be posted to the account by the end of each month to qualify. ATM transactions are not included. Bonus Dream Points for qualifying
Qs As Dear CU SoCal, Ask CU SoCal Rewards+ ofers the following It’s important to note that Rewards+ is a fnancial benefts: I’ve heard that CU SoCal has a new loyalty program called Rewards+. What can you tell me about it? —- Curious in Covina Dear Curious: Yes, Rewards+3 is now available! In early 2022, we surveyed Members to determine what they wanted in a loyalty program. Specifcally, we asked what elements of a loyalty program would create the most value for them. We are so grateful for our valued Members and the thousands of survey responses we received, which were instrumental in designing a loyalty program that saves qualifying Members an average of $200* annually. As a result, we launched Rewards+ in April 2023. * The $200 value is an estimate and may difer depending on product and service usage. • Fee waivers • Auto loan rate discount • One free box of checks per year • 10% annual bonus on debit card CU SoCal Dream Points Any Member with a Rewards Checking Account can qualify for Rewards+, but frst they must have at least three of the following products or services: • Monthly electronic deposits of at least $750 • An auto loan • 12 monthly debit card purchases • $25,000 average daily balance • Mortgage loan (either a frst trust deed, HELOC or home equity loan) trailing benefts program. This means that when Members qualify for Rewards+ in a calendar month, they receive the benefts the following month. For example, if you qualify for Rewards+ for the frst time in the month of July, your benefts will be activated in August. It’s easy to know your status in the program by using the new Rewards+ widget in Online and Mobile Banking, whether you are a current Rewards+ Member or you have yet to qualify and unlock the benefts. That means you’ll always know where you stand in terms of Rewards+ benefts. To learn about Rewards+ in greater detail, visit CUSoCal.org/RewardsPlus. —Your friends at CU SoCal Jobs May Change. Your Credit Union Doesn’t Have To “CU SoCal has helped me grow during my time as a Member. I got my frst personal loan, which helped me buy my frst car. I eventually qualifed for a Angela became a CU SoCal Member through our Preferred Partner Program while working for her former employer. Though she’s since changed jobs, she’s remained a loyal CU SoCal Member ever since. second loan to help stay afoat during the pandemic. I'm so grateful for CU SoCal, and I can honestly say this is the one place I do not mind calling for assistance. And that's only when absolutely needed because most questions can be answered online or through their app. I can't say enough good things about this credit union. ” —Angela, CU SoCal Member since 2016 Special 4.50% APY Share Certifcate Boost your dividend earnings with 4.50% APY¹ on our special share certifcate promotion, and you pick the term! • Get 4.50% APY on a 3, 6, or 12-month term–it’s your choice. • Open your account through Quick Apply in Digital Banking, through any branch, or by calling our Member Care Center at 866.287.6225 Monday-Friday: 9 a.m.-6 p.m., and Saturday: 9 a.m.-1 p.m. • Use Digital Banking to transfer money from external accounts into your 4.50% APY Share Certifcate. • Your funds are federally insured up to $250,000. • New funds only. 1. APY=Annual Percentage Yield. The annual percentage yield assumes that dividends will remain on deposit until maturity. If you make a withdrawal from your account, your earnings will be reduced. Minimum deposit to open is $1,000. Must be a CU SoCal Member. New Member maximum online opening deposit is up to $150,000. Deposits cannot originate from a CU SoCal account. Deposits made to the promotional certifcate through electronic transfers (ACH) originating from Credit Union of Southern California will not be available for withdrawal for 60 days from the date of deposit. Dividends will be compounded monthly and will be credited monthly and at maturity. We may impose a 60-day penalty if you withdraw the principal from your certifcate account before the maturity date. The penalty imposed shall be based on the amount withdrawn. If the amount withdrawn reduces the principal balance below the stated minimum during the term, you will be assessed a penalty on the entire principal balance, and we will close the certifcate account and transfer any remaining balance to your Regular Savings Account. This promotion is valid July 1, 2023 – August 31, 2023 with a 4.40% APR fxed rate. Your 3, 6, or 12 month term will automatically renew at maturity for the same time period as the original term at the prevailing rate unless you withdraw all of the funds in your account at maturity or within a grace period of 7 days after maturity. Your account will mature as refected on the Rate Schedule. The maturity date will be stated on the certifcate or receipt provided to you at the time of opening your account. Ofer is subject to change without notice.
New Branch Location We’d like to welcome our new CU SoCal Members from our recent merger with Printing Industries Credit Union. We are honored to serve you and your families and continue to deliver the exceptional experience you’ve come to expect. As part of the merger, we’ve added a new branch location in Riverside, located at 4333 Orange Street, Suite 100. Access the Cash Value in Your Home An interest-only home equity line of credit (HELOC) is a great way to tap into the cash value of your home while keeping your payments low. A HELOC gives you the fnancial fexibility to pay of expenses like home renovations, medical bills, college tuition, or even fund a family vacation. To learn more and apply online, visit CUSoCal.org. You can also apply using Quick Apply in Online or Mobile Banking. Contact Us Member Care Center 866 CU SoCal (866.287.6225) Monday-Friday 9 a.m.–6 p.m. Saturday 9 a.m.–1 p.m. Website CUSoCal.org Email [email protected] Find ATMs Text zip code to 91989 Find Branches Visit CUSoCal.org to use Cali, our 24/7 chat feature Seminars Join us for complimentary seminars and webinars held throughout the year. Everyone is welcome! Homebuying Seminars Whittier Community Center 7630 Washington Ave Saturday, July 15 | 10 a.m. PT Whittier Public Library 7344 Washington Ave Saturday, August 26 | 10 a.m. PT Saturday, September 16 | 10 a.m. PT Pomona Public Library 625 S. Garey Ave. Saturday, July 22 | 11 a.m. PT Saturday, August 19 | 11 a.m. PT Saturday, September 23 | 11 a.m. PT Understanding Credit Anaheim Central Library 500 W. Broadway Saturday, July 29 | 11 a.m. PT Webinars Drive Away Happy: Car Buying Decisions Tuesday, July 11 | 10:30 a.m. PT Thursday, July 20 | 5:30 p.m. PT Safeguarding Kids’ Identity And Online Privacy Tuesday, August 8 | 10:30 a.m. PT Thursday, August 17 | 5:30 p.m. PT Understanding Credit Wednesday, August 23 | 6 p.m. PT Psychology Of Spending Tuesday, September 12 | 10 a.m. PT Thursday, September 21 | 5:30 p.m. PT To Register Or View More Information & Resources: CUSoCal.org HOLIDAY CLOSURES Independence Day July 4 Labor Day September 4 Federally insured by NCUA GROWING TO SERVE YOU BETTER Credit Union of Southern California Members....................................156,260 NMLS #454788 Loans............................ $1,640,676,962 Assets........................... $2,869,526,566 FINANCIAL HIGHLIGHTS as of May 31, 2023.