Credit Union of Southern California launches Rewards Checking account
ANAHEIM HILLS, CA (July 11, 2018) — On July 1, the Anaheim Hills, CA-based Credit Union of Southern California (CU SoCal) began offering Rewards Checking accounts for its members.
With Rewards Checking, members earn CU SoCal Dream Points for purchases made using their debit card that can be redeemed for cash, air travel, gift cards from locations such as Target and Olive Garden, and merchandise. If the member has a CU SoCal Visa credit card, any points earned from debit card use will automatically combine with points earned with those earned from credit card purchases.
In addition, the Rewards Checking account also directly addresses the issue of identity theft, with members receiving an entitlement to three bureau credit monitoring, on-demand access to their credit score, credit report change alerts, and regular update notices. Plus, should a member or qualified family members become a victim of identity theft, he or she will have a personal privacy advocate to assist in the recovery process every step of the way. CU SoCal is also including up to $25,000 of identity theft expense reimbursement insurance for members and their qualified family members.
“After decades of communication with our membership, we were able to synthesize our current checking accounts and streamline what we offer into two products—Rewards Checking and Classic Checking—and provide even greater value for Credit Union of Southern California membership,” said President and CEO Dave Gunderson.
The transition to the new product was seamless with all current checking accounts upgraded automatically to the new checking account. Everything remained the same for members—their account number; scheduled direct deposit and automatic payments; current debit cards; and existing checks. In addition, members continue to keep all current benefits, such as online and mobile banking. The cost for the account is $5 a month. For those who didn’t wish to upgrade, they could opt out and choose to go with the Classic Checking account, which is free for those enrolled to receive eStatements or who meet other qualifications. The Rewards and Classic account types replace the credit union’s prior accounts—E-Z Earn, Value, and Value+. Going forward, members who wish to change from one checking account to another (either going from Classic to Rewards or vice-versa), may do so.
About Credit Union of Southern California (CU SoCal)
Founded in 1954 as Whittier Area Schools Federal Credit Union, CU SoCal is a credit union open to those who live, work, worship, or attend school in Los Angeles, Orange, Riverside and San Bernardino counties. CU SoCal has a superior five-star financial rating from BauerFinancial, holds more than $2 billion in assets, and serves more than 130,000 Members. For more information, visit CUSoCal.org.