CU Connection Newsletter

A Publication for Members of Credit Union of Southern California Fall 2021SoCal

CU Connection

SharonSharon Member since 1986Member since 1986

INSIDE:

§ Message From Our President/CEO

§ Unlock Funds With A HELOC

§ Benefts of Digital Wallets

§ Save Big With A CU SoCal Topaz Visa® Credit Card

§ Board & Supervisory Committee Nominations

§ Webinars & Saturday Seminars

866.287.6225 | CUSoCal.org

changes to title holder. Promotional rate is efective 9/1/21 and is subject to change

without notice. Ofer expires 10/31/21. NMLS#454788

Benefting You. It’s What We Do. Credit Union of Southern California (CU SoCal) is a different kind of financial institution: one owned by you, working for you. We’re proud to be your financial cooperative dedicated to providing Members not only with affordable banking services, but the tools, expert advice, and trusted resources needed for you to take control of your financial future. The bottom line? We’re in the business to help people, not profit from them.

CU SoCal seeks solutions to help you make the most of your money. Whether you’re opening your first checking account, getting ready to buy your first home, or seeking to build a dependable retirement plan, we’re here to help with expert guidance and affordable options. In addition to serving your basic banking needs, we can help you find an affordable vehicle through our auto buying partner, save you money on your home purchase through our Home Rewards program, and reduce your payments and improve your cash flow by refinancing your high-interest loans and credit cards.

Still, we find many Members don’t realize the full value of their credit union Membership and just how much money CU SoCal can save them. As a cooperative, our profits are returned to Members in the form of better rates, lower (and fewer) fees, and greater convenience. I hope you consider CU SoCal first for all your financial needs and recommend us to your family and friends. You might be surprised how much you can save.

Thank you for your continued support and partnership. We’re honored to serve you.

Sincerely,

Dave Gunderson President/CEO

Limited Time Ofer: 1.77%1 APR On A HELOC (Regularly 4.00% APR1) Have you been putting of home renovations because you don’t have the funds you need? A Home Equity Line of Credit (HELOC) might be your solution. With a HELOC, you can unlock a portion of your home’s equity and use it as a funding source to achieve your goals. And, right now is a great time to apply! Through October 31, CU SoCal is ofering a low 1.77% APR for the frst 12 months.

What is a HELOC?

A HELOC is a variable-rate line of credit secured by the equity in your home. It’s a popular source

of funding for Members pursuing home renovations and upgrades, but you can use the funds for whatever you want, such as family vacations, college tuition, or debt consolidation. Depending on your home’s equity, as much as $250,000 can be unlocked. Access to your HELOC is easy through Digital Banking transfers or by check.

Why Choose a HELOC?

There are many advantages to a HELOC. For starters, you can tap up to $250,000 at an 80%

Combined Loan to Value Ratio. Since HELOCs are a line of credit, you only borrow what you need, thus keeping your payments low. The interest from your HELOC may be tax deductible. If raising your credit score is your goal, a HELOC can be a great opportunity to improve your credit wellness. You can even refnance your current HELOC from another fnancial institution.

Limited-Time HELOC Ofer

Now through October 31, 2021, CU SoCal is ofering an incredibly low 1.77% APR for the frst

12 months on a HELOC. After the frst year, the rate is the prime rate plus a margin, and cannot go below the foor rate of 4.00%. Learn more about this limited-time ofer by visiting www.CUSoCal.org/177HELOC.

1. APR=Annual Percentage Rate. Ofer available only for new CU SoCal HELOCs or refnanced HELOC from outside lender. The introductory discounted rate 1.77% APR (intro rate) is fxed for the frst 12 months (365 days). After that, the rate will adjust to the current index rate plus the applicable Margin, which will not go below the foor rate of 4.00%. The index for our HELOC is prime rate. Maximum rate is 16% APR. The promotional rate is not based on the index plus the applicable Margin. Intro 1.77% APR is available on one property and does not apply to subsequent credit limit increases or refnances. Minimum required monthly payment is $100. A minimum $10,000 immediate draw is required upon opening. Minimum credit line amount to obtain promotional rate is $25,000. Combined loan to value (LTV) not to exceed 80% of the appraised property value. Maximum loan amount is subject to credit qualifcation and appraised property value. HELOC is only available on owner-occupied California properties including single-family residences, condominium and two-, three-, or four-unit properties. Properties with construction work in progress may not be eligible. Borrower responsible for payment of property taxes and homeowners insurance. Fees may be required for a condominium certifcation, multi-unit property appraisal and

Qs As

ASK CU SoCal

Dear CU SoCal, I’ve heard a little about digital wallets. How can they create value for me?

Smartphone Steve

Dear Steve,

Digital wallets, like Google Pay™, are accessible through any compatible mobile device, including smartphones, smartwatches, and tablets, and allow you to safely store your CU SoCal Visa® Debit or Credit Card payment information for fast and secure contactless purchases. If you’re already enjoying the speed and convenience of CU SoCal Digital Banking, adding a digital wallet to the mix is an ideal way to take your personal money management to the next level!

With digital wallets, you can easily store all of your CU SoCal cards—including

your CU SoCal Topaz Visa Credit Card, Platinum Rewards Visa Credit Card, and your Visa Debit Card—on your mobile devices and access them for mobile, desktop, or in-store purchases. Plus, you can still earn Dream Points through digital wallet purchases.

CU SoCal ofers the following digital wallets:

Another great beneft of digital wallets is you can add multiple cards. Apple PayTM

allows you to add up to 12 cards, Samsung PayTM allows 10 cards, and Google Pay has no limit on cards.

In It For The Long Run Sharon opened an account at the Whittier Greenleaf branch in 1986, and has been a Member ever since.

“CU SoCal has been with me throughout my entire fnancial journey. They walked me through the seasons of my life. The credit union has been with me since my frst checkbook, my frst Visa®, through car loans, and even up to the pandemic. When

CU SoCal Topaz Visa® Card

Get 0% APR On Balance Transfers For 9 Months

• Starting November 1, get 0% promo APR on balance transfers for 9 months1

• Generous credit limits up to $50,000. • No annual fee • Low balance transfer fee of 2% • Make balance transfers online

Learn more at CUSoCal.org/CreditCard

1. APR = Annual Percentage Rate. Ofer valid on non-CU SoCal balances. Amount is limited to your approved credit line. CU SoCal Topaz Visa: 0.00% Introductory APR for 9 months from the date of each balance transfer. After that, the APR applicable to the transferred balance existing at that time and in the future, will immediately increase to the non-introductory variable rate that would otherwise apply and based on your creditworthiness at the time you established your account. The non-introductory APR may vary with the market based on the Prime Rate. Aggregate maximum unsecured loan limits (credit card and personal loans, not to exceed $50,000). A 2% balance transfer fee will apply to each balance transfer. Loss of promotional APR: We may end your promotional APR for balance transfers and apply the penalty APR if you make a late payment. Ofer expires February 28, 2022 and is subject to change.

With digital wallets, you can purchase that cup of cofee with your smartphone or order those shoes you’ve been keeping in your online shopping cart on your tablet. Keep in mind, Apple Pay, Samsung Pay, and Google Pay are only available through participating merchants.

CU SoCal Digital Wallets allow you to elevate your personal money management, add multiple cards to one device, and access your CU SoCal funds on the go!

For more information on digital wallets and how to add your payment information to your mobile device, visit CUSoCal.org/DigitalWallets.

—Your friends at CU SoCal

we needed additional help, they graciously postponed car payments until we were in a better fnancial situation.

No matter the task, large or small, CU SoCal always attends to my banking needs. Once you experience that type of community, those relationships you’ve built, you don’t want to leave that behind for a less personal fnancial institution.”

—Sharon of Yorba Linda

Board and Supervisory Webinars Committee Nominations PSYCHOLOGY OF SPENDING

Saturday, October 9 | 10:30-11:15 a.m.Three Board Members and three Supervisory Committee Members are up for election in 2022. Elizabeth Camp, Paul Moore, and John C. Smith have each been nominated to serve three-year terms on the Board of Directors. Greg Kelley, Judy Miller, and David Yamashita have each been nominated to serve two-year terms on the Supervisory Committee.

The Nominating Committee has determined that these volunteers are qualifed and have the necessary experience to serve our Membership. As a CU SoCal Member 18 years or older and in good standing, you are eligible to run for an elected position. Petitions for nominations of candidates for these positions will also be accepted. Petitions must be submitted by Friday, January 14, 2022 to the secretary of the credit union. A valid petition must have at least 500 signatures from CU SoCal Members, be accompanied by a signed “Willingness to Serve” statement, a signed “Code of Ethics/Statement of Consent,” and a statement (not to exceed 250 words) detailing the candidate’s qualifcations for ofce and reasons for candidacy. Petition packages are available upon request from the Member Care Center at 866.287.6225.

Monitor Your Credit Wellness Credit Score and More provides convenient access to your credit score and report, special lending ofers, and credit alerts. Click on the Credit Score and More widget in Mobile or Online banking to get started!

Did You Know? You can avoid Courtesy Pay fees by having funds frst pulled from a designated savings account and/or line of credit? Call 866.287.6225, visit CUSocal.org, or stop by your nearest CU SoCal branch to learn more.

Contact Us

SoCal Wealth Management presents: SOCIAL SECURITY STRATEGIES Saturday, October 9 | 11:30 a.m.-12:30 p.m. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to efect some of the strategies. Investing involves risks including possible loss of principle. Securities and advisory services ofered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are ofered through LPL or its licensed afliates. Credit Union of Southern California (CU SoCal) and SoCal Wealth Management are not registered as a broker/dealer or investment advisor. Registered representatives of LPL ofer products and services using SoCal Wealth Management, and may also be employees of CU SoCal. These products and services are being ofered through LPL or its afliates, which are separate entities from, and not afliates of, CU SoCal and SoCal Wealth Management.

Not Insured by NCUA or Any Other Govenment Agency

Not Credit Union Guaranteed Not Credit Union Deposits or Obligations May Lose Value

BUYING A HOME Saturday, October 9 | 12:45-2 p.m.

USING CREDIT CARDS WISELY Tuesday, October 12 | 10:30-11:30 a.m. Thursday, October 21 | 5:30-6:30 p.m.

REBUILDING AFTER A FINANCIAL CRISIS Tuesday, November 9 | 10:30-11:30 a.m. Thursday, November 18 | 5:30-6:30 p.m.

10 STEPS TO FINANCIAL SUCCESS Tuesday, December 7 | 10:30-11:30 a.m. Thursday, December 16 | 5:30-6:30 p.m.

REGISTER: CUSoCal.org/Webinars

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

Share Your Stories! To celebrate International Credit Union Day October 21, we are inviting Members to share stories of how a credit union (CU SoCal or any other credit union) helped them build a better tomorrow. There will be 10 winners of $500 each for the best stories, but you also have to follow us on social media! You can participate in this promotion through October by visiting CUSoCal.org/BetterTomorrow. You must be age 18 or older to enter. Members who submit their story before October 31, 2021 and follow us on at least one social media platform will automatically be entered to win. Ten $500 cash winners will be selected by random drawing from all entries. Odds of winning depend on number of entries. No purchase necessary. Prize may be subject to tax reporting, applicable 1099 may be sent for tax purposes. To enter without making a purchase, mail a postcard to CU SoCal Share Your Story Drawing, P.O. Box 200 Whittier, CA 90608-0200. Include your name and phone number. Each postcard counts as one entry, you 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 by November 30, 2021. Ofer subject to change without notice.

Member Care Center 866 CU SoCal (866.287.6225) HOLIDAY CLOSURES Monday-Friday 9 a.m.–6 p.m. Thanksgiving November 26-27

Christmas Eve December 24 (closed at 1 p.m.) Saturday 9 a.m.–1 p.m. Christmas December 25 Phone Banking 562.945.2214 New Year’s Eve December 31 (closed at 1 p.m.) 800.249.2328 toll-free

Website CUSoCal.org GROWING TO SERVE YOU BETTER Email [email protected] Members....................................127,980 Find ATMs Text location to 91989 Loans............................ $1,184,487,036

Assets........................... $2,236,251,550 FINANCIAL HIGHLIGHTS as of August 31, 2021.

Federally insured by NCUA