SAN DIEGO – In a state in which nearly five-million Californians have filed for unemployment since businesses closed mid-March to mitigate the spread of COVID-19, USE Credit Union (USECU) has launched a program offering members a “Spread the Love” bonus of $100 for referring friends and family that can be used in conjunction with unemployment direct deposits.
“Many Californians are facing challenging financial times as a direct result of the COVID-19 pandemic, whether that is due to being laid off or furloughed, having to dip into savings to cover basic needs, or accruing debt to stay afloat financially,” said Paris Chevalier, SVP and chief experience officer at USE Credit Union. “While typical gig-economy jobs such as ride-share driving, nannying or tutoring may not be an option right now, there are still ways that Californians can earn money during a pandemic.”
For a limited time, USECU said it is offering members the $100 “Spread the Love” bonus for each person they refer to the credit union – and the referred friend also gets $100. Existing members just need to complete a form referring friends or family members to open a free checking account with eStatements in order to both collect the $100 bonus, the credit union said. Referred members must receive at least $500 in monthly direct deposits within 90 days of opening their new account, which can include unemployment direct deposits. There is no limit to the number of friends who can be referred.
Recognizing the ‘Challenges’
“At USE Credit Union, we recognize the challenges that our community members are facing,” Chevalier added. “We want to give them an opportunity to earn some extra cash and help their friends and families, too.”
The $1-billion USECU has nearly 60,000 members.