Here’s how it works. Once a year, we’ll deposit a little something into your savings account as a reward for having La Cap accounts.
It all starts with your La Cap checking account—we’ll give you $20 just for using it. Got a savings account, auto loan, or credit card? We’ll give you $10 for each of those. And if you have your mortgage with us, you’ll get $30 each year. So you’ll have the safety and security of great accounts that help improve your finances, and a little something extra in your pocket too.
If you're a La Cap member, you're already on your way to earning membership rewards. No special enrollment is needed to benefit from this program. Just keep using your La Cap accounts, and we'll keep track of everything for you.Click here to see how much you could earn!
Does the new member reward program apply to new members only or existing members as well?
New and existing members, who meet the program guidelines, will be able to qualify for rewards.
Is there a waiting period before new member will be eligible to receive rewards?
There is no waiting period; however, the program guidelines must be met for rewards.
Does the member have to have a specific checking account? Are any checking accounts excluded?
All members (age 18 or older) who have an active personal checking account with an average monthly daily balance of $1,000 or greater or a minimum of 10 posted debit card purchases each month (minimum of 10 months in 12 month period) during the reward period and who are enrolled in online banking and e-statements will qualify for rewards.
Business checking accounts and trust accounts with an EIN, along with business accounts under personal memberships, are excluded from the rewards program.
If a member does not have a checking account but has the other products will they get the reward for the products they do have?
No. A checking account is required.
Will minor savings account qualify for the savings account reward?
No. The savings account has to be in the name of the checking account holder. Being a custodian on another account does not qualify.
Do Vacation Club and Christmas club accounts qualify for the reward?
Yes. Christmas and Vacation clubs do qualify for rewards. As long as the club account is active with a minimum balance of $1,000 at the time of rewards payout it will qualify.
If I have regular savings and special savings, the same member number, will each account qualify or will I be paid only once?
Only one savings account per membership will be eligible for rewards.
If I have multiple checking accounts, the same member number, will I be paid per account or only one?
Only one checking account per membership will be eligible for rewards.
If I have multiple auto loans, the same member number, will I be paid per account or only one?
Yes. Each auto loan will qualify for rewards, as long as the original loan amount is $15,000 or greater.
If I have multiple credit cards, the same member number, will I be paid per card or only one?
Yes. Each credit card will qualify for rewards, as long as it meets the required minimum of 50 transactions in the 12 month period of the rewards program.
If I have multiple mortgage accounts, the same member number, will I be paid per mortgage or only one?
Yes. Each first mortgage or second mortgage with an original loan amount of $50,000 or greater will qualify for rewards.
How long will my auto loan have to be above $15,000? All 12 months or will I qualify if my auto loan is above $15,000 any part of the year?
Auto loans with an original loan amount of $15,000 or greater will qualify for rewards. It does not matter when the loan was originated, as long as payments are being made to the loan or it has been paid off during the reward period, it will qualify for rewards. Those members with a loan or deposit charge-off or those with a loan delinquent by 60 consecutive days or more during the reward period are ineligible.
Does a member qualify for member rewards if they have a HELOC?
No. A HELOC does not qualify for rewards under this program.
Why do I not get member rewards for my signature loan?
Under the current program, signature loans do not qualify for relationship rewards.
Will I receive rewards for those accounts that I am joint on if they qualify?
No. Account relationships, balances and activity requirements are based on a single member number.
Why do we have to wait until the third quarter of the 2021 year to receive the reward?
The program duration is 12 months (July-June) and the payouts will be made in conjunction with the celebration of International Credit Union Day.