ANAHEIM HILLS, Calif.– Credit Union of Southern California (CU SoCal) has introduced a new Rewards Checking accounts offering for its members.
Members are being automatically upgraded into the new product, which has a $5 monthly fee. Members have the option of opting out and going with CU SoCal’s Classic Checking account, which is free if certain conditions are met.
The new product offers members the opportunity to 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, the credit union said.
Rewards Checking additionally offers identity theft protections 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. In the event a member or qualified family member becomes 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,” the credit union said.
CU SoCal is also including up to $25,000 of identity theft expense reimbursement insurance for members and their qualified family members.
Streamlining Offerings
“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.
CU SoCal said its current checking accounts are being upgraded automatically to the new checking account and will retain all current benefits, such as online and mobile banking. Members who chose not to upgrade can continue to use the Classic Checking Account, which is free for those enrolled to receive eStatements or who meet other qualifications.