Claim Your Rewards!
Thursday, May 27th, 2010Formerly known as “PurplePoints,” Salal Rewards points are a great way to get a little financial boost from time to time. If you’ve been stockpiling them for awhile, here’s a quick refresher in redeeming your Rewards:
- Spend 2,500 Rewards points to boost your savings dividend rate on a new certificate by 0.25%¹ Annual Percentage Yield (APY)
- Spend 2,500 Rewards points to save a little on your loan—decrease your loan by 0.25% Annual Percentage Rate (APR)²³
A little low on Rewards points? Here’s how to earn them:
- Earn points every time you use your Salal debit card
- Earn a point for every dollar you pay in interest on a personal loan or home equity loan³
- Earn a point for every dollar you earn in dividends on your savings accounts or share certificates
- Earn 100 points for referring a new member or signing up for online bill pay
- Earn 500 points when you’re approved for a new loan3 or Visa credit card; or open a Premium Plus Money Market, IRA (minimum $2500 opening deposit), My Checking, or Silver Horizons Checking
- Earn 2,500 points when you open a new Emerald Checking account
And don’t forget—you can gift your Salal Rewards points to another Salal member in any amount, at any time, free! Just drop by your branch or give us a call at 800-562-5515 to transfer your points. What could be a better gift for a birthday or special occasion than Salal Rewards?
¹Youth and Choice Certificates are not eligible for Reward points rate increases.
²Mortgages and home equity lines of credit loans are excluded from Rewards points rate decreases.
³All Salal loans are subject to credit approval.
I still do not understand HOW I can spend them.
Donna,
RE: How to spend Rewards points.
If you want to open a certificate, for example, if you have 2,500 Salal Rewards points, you can trade them for a 0.25% rate increase (except on Choice and Youth certificates). That means you earn a higher dividend than you would have without the increase. You can also spend 2,500 points lowering the rate on a personal loan by 0.25%. (All Salal loans are subject to credit approval, of course. Not all loans are eligible for this rate reduction, so please visit a branch or call us for more details.) This reduction can save you money by reducing the amount of interest you would pay.
And you’re free to gift points to other members so that they can also enjoy the benefits!
Does that answer your question? Please let me know if not. Thanks for asking!
How do we check on how many pts. we have earned?
Joanne,
Thanks for your question! You can check your Rewards points status by going to this page on our website: http://www.salalcu.org/services/salal-rewards.html. At the bottom you’ll see a link that says “Keep track of your Salal Rewards online!” Let me know if that doesn’t resolve your issue.
Thanks!
Shannon