Member Referral Program
Loyalty has its rewards.
We value our loyal members and believe that great experiences are even better when shared. Our Connect to Collect Member Referral Program rewards qualified loyal members and offers a special welcome to your friends and family. Every time you refer a friend who completes the referral process, you earn $50 and the new member earns $350. As an added benefit, your Member Loyalty payout will be boosted with every successfully completed referral. Learn more about the program below.
Referral Process
Current Member Track
New Member Track
Grab your unique code from the Refer a Friend tab in the Member Loyalty widget located in Online and Mobile Banking, then share with your friends and family who are not already Educators Credit Union members.
Open both a checking and savings account with Educators Credit Union using the provided referral code. Apply for your new account online, through Educators Connect Cam™, or by visiting a branch.
Move your direct deposit of at least $200 to your new checking account. Visit the Direct Deposit link under the Accounts menu in Online or Mobile Banking to get started.
Loyal members have a checking account and a minimum of five qualifying withdrawals from their account each month. Details can be found on our Member Loyalty page.
You will receive a $50 Referral Reward in your account as a thank you for sharing your story with your friends and family.
You will receive a $350 bonus in your account as a thank you for becoming a valued member.
On December 1st, your Member Loyalty payout will receive an additional amount equal to your Member Loyalty Reward times the number of completed referrals. Visit the Member Loyalty widget to see your boost!
Frequently Asked Questions
If you qualify for Member Loyalty, you will find your referral code in the newly updated Member Loyalty tool under the “Refer a Friend” tab.
Did you discover you don’t qualify, or you’re not sure how your friend or family member can qualify? Here’s how you can become eligible for Member Loyalty:
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- Open an Educators Credit Union checking account.
- Make at least five withdrawals per month from any share linked to your account. This can be from any combination of debit or credit card purchases, check withdrawals, automatic payments, bill pays, or ATM withdrawals.
Nope! You can refer as many friends and family members as you want, and each completed referral earns you a $50 referral reward and a boost to your Member Loyalty.
You will receive your $50 referral reward when your friend or family member becomes eligible for Member Loyalty and sets up their qualifying direct deposit of at least $200 within 60 days of opening their new account. Your $50 will be deposited within 10 business days of when these requirements are met.
Your friend or family member will receive the $350 bonus when they complete all the required steps: earning Member Loyalty status and setting up a qualifying direct deposit of $200 or more within 60 days of opening their new account.
Disclosures
IMPORTANT INFORMATION:
Account information is private and confidential. We cannot disclose information about the status of qualifying accounts opened by the friends and family referred.
Referral/Account Information:
Referral Reward/Bonus is available to eligible members who qualify for Member Loyalty. The current referring member could receive a $50 Referral Reward, plus a Member Loyalty Boost if all conditions are met. The new referred member could receive a $350 bonus if all conditions are met.
To receive the $50 Referral Reward:
- Refer family and friends who do not already bank with Educators to open a qualifying Educators checking account. The referred member must be considered a new member and not have had an Educators Credit Union account within the past six months. If the referred member was previously an Educators Credit Union member, their account must have been in good standing to qualify for this program.
- The referred member must provide the referring member’s unique Referral Code at the time of account opening.
- The referred member must receive a direct deposit into their account of at least $200 within 60 days of account opening (ex. Social Security, payroll, etc.)
- The referred member must qualify for Educators Member Loyalty within 60 days of account opening.
If the above four conditions are met, we’ll deposit the $50 Referral Reward into the referring member’s primary checking account within 10 days.
To receive the Member Loyalty Boost:
The referring member’s Member Loyalty payout on December 1st will receive an additional amount equal to their Member Loyalty Reward times the number of referrals completed in that calendar year. Membership must be in good standing when Member Loyalty is calculated on November 30th and paid out on December 1st. An account is not in good standing if its checking account has been negative for more than 35 days or a loan is overdue for payment.
To receive the $350 Bonus:
- The referred member must provide the referring member’s unique Referral Code at the time of account opening.
- The referred member must receive a direct deposit into their account of at least $200 within 60 days of account opening (ex. Social Security, payroll, etc.)
- The referred member must qualify for Educators Member Loyalty within 60 days of account opening.
If the above three conditions are met, we’ll deposit the $350 bonus into the referred member’s primary checking account within 10 days.
Eligibility may be limited based on account ownership. Bonuses and rewards are considered miscellaneous information and may be reported to you and the IRS on Form 1099-MISC. Employees of Educators Credit Union are eligible for the Member Referral Program, excluding executive and senior management.