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FAQs: Level Up Member Benefits Program

August 26, 2021
by Team SESLOC

Here are the answers to common questions about Level Up, our new member benefits program.¹ Have more questions? Call us at (805) 543-1816 or visit any SESLOC branch:

General Information

What is the Level Up program?

Level Up is a free program that gives SESLOC consumer members new benefits for growing their relationship with SESLOC. Members may earn points based on transacting, saving, borrowing and continuous years of membership.

How do I enroll?

Great news! All eligible SESLOC consumer members with a consumer membership in good standing are automatically enrolled on September 1, 2021.

Why is SESLOC offering this program?

For nearly 80 years we’ve provided affordable financial products and services to help you reach your goals and dreams, and the Level Up program is yet another way to give back to our loyal members.

How is the Level Up program different from SESLOC Rewards?

Currently we offer two distinct member “rewards” programs. At SESLOC, we value our members — that’s why we give back both REWARDS and BENEFITS!

  • With SESLOC Rewards, you earn points for every HomeFREE Checking™ debit card purchase or Visa Signature® Rewards credit card purchase. Points are then redeemed at seslocrewards.org for gift cards, travel, merchandise and more.² The number of points you may earn is unlimited, however, they expire after 36 months if they are not redeemed.
  • With our new Level Up member benefits program, you don’t just get benefits based on eligible debit and credit card purchase transactions, but also for saving, borrowing and for 7+ years of continuous membership. The maximum points you may earn is five.

The points you earn for SESLOC Rewards and the points you earn for Level Up are calculated and redeemed separately, as they are two separate programs.

Who is eligible to participate in the Level Up program?

Consumer members aged 18 years and older who are the Primary member on at least one membership are eligible to participate in the Level Up program. Minor, Business, and Fiduciary memberships are not eligible to participate in the Level up program. (Fiduciary membership include: Estate accounts, Irrevocable Trust, Representative Payee, Guardianship and Conservatorship.) Members must be in good standing for the Level Up program or any credit union benefit.

I’m a new member. When am I eligible for the Level Up program?

It may take up to 35 calendar days for a new membership to be given a Level Up status. If you plan to apply for a loan within the first 35 days of membership/account opening, please contact the SESLOC representative that opened your account or call us at (805) 543-1816 to determine if the new loan is eligible for a discount.

I’m a Joint owner. Will I receive any benefits from this Level Up program?

Yes! Joint owners may benefit from this program. Although a Level Up status is only given to members who have a Primary consumer membership at SESLOC, the status is given to each membership as a whole. As a Joint owner, you will receive the same benefits that the Primary member receives on that membership.

How can I view my Level Up program status?

You may view your Level Up program status on your consumer Primary Share Savings account statement. The status is for the month following the statement period end date. Your Level Up status is recalculated every month. If you receive a quarterly statement, please call us at (805) 543-1816 or visit any branch for your current Level. Coming soon, your Level Up status will be in Online Banking.

Earning Points

How do I earn Level Up points?

Eligible Primary members will earn up to one point for each of the following categories, with a maximum earning of five points:

  • Transacting – Have a HomeFREE Checking account with an open debit card. In addition, make $500 or more in eligible deposits OR 15 or more eligible transactions.
  • Saving – Have $10,000 or greater in average balances across all of your eligible deposit accounts (which includes HomeFREE Checking!) OR have a SESLOC Wealth Management³ account.
  • Borrowing – Have at least one eligible loan.
  • Borrowing Again – Have at least two eligible loans.
  • Loyalty – 7 or more years of continuous membership at SESLOC.

How often are Level Up points calculated?

Your Level Up program points are calculated on the last day of each calendar month, using activity from the preceding 35 calendar days to assign your benefit level for the following month. We refer to the preceding 35 days as a “Review Cycle.” I don’t see how many points I have in my Level Up status on my statement. Points are calculated in order to determine what level you are, either Level 1, 2 or 3. The program level is what we use to determine your Level Up program benefits, and therefore is what we indicate on your Primary Share Savings account statement.

Which loans for a Primary member are eligible for a Level Up Borrowing or Borrowing Again point?

All consumer loans, including consumer mortgage are eligible for the Borrowing or Borrowing Again point. Business loans are only eligible if you are the owner of the business AND an obligated borrower on the loan.

Which accounts and transactions for a Primary member are eligible for the Level Up Transacting point?

You must first have an open HomeFREE Checking™ account with an open SESLOC debit card. Eligible transactions to meet the 15 or more transactions during the Review Cycle are debit card purchases, including signature or PIN transactions, ATM withdrawals, Bill Pay transactions, cash deposits/withdrawals, check deposits/withdrawals, and ACH transactions. Transfers, including member-to-member transfers in Online Banking, are not eligible to be considered for the Transacting point. If you do not meet the 15 or more transaction requirement, you may still earn the Transacting point by making $500 or more in deposits to the checking account during the Review Cycle or the 35 calendar days prior to the last day of the month.

Which accounts for a Primary member are eligible for the Level Up Saving point?

The eligible accounts included in the $10,000 or greater in average balances during the Review Cycle for the Savings point include: HomeFREE Checking™, Primary Share Savings, Secondary Share Savings, Holiday Savings, Level Pay, Consumer Money Market, Share Certificates, IRAs, and even some Business accounts. Business shares will only be included in the Savings point if you are the business owner and an authorized signer on the business share(s). If you do not have $10,000 or greater in average balances across all of those accounts, you may also earn the Savings point by having a SESLOC Wealth Management³ account in your name.

I have a Business deposit or Business loan account. Do I get Level Up points for my business activity?

  • In order to receive credit for business deposit and loan accounts, balances and/or activity, you must have at least one Primary consumer membership with the credit union, plus you must be:
  • An owner of the business; and
  • An authorized signer on the business shares in order to get credit toward Level Up Transacting or Saving points.; and, if applicable
  • An obligated guarantor/borrower on a business loan in order to get the Level Up Borrowing or Borrowing Again points.

Program Benefits

How do I apply the Level Up benefits to my accounts?

We’ve made it easy for you to make the most of your Level Up benefits. Some benefits are automatic, and others are applied at time of request or processing.

  • Rate discounts and reduced mortgage origination fees are applied during the processing of your loan application.⁴
  • Waivers for stop payment fees are provided at time of request if completed in branch or by phone. Stop Payment fee for online stop payment requests will be refunded within 30 calendar days.
  • Waiver of Non-SESLOC and Non-CO-OP ATM transaction fees for withdrawals at “Foreign” ATMs are waived at the time of the transaction.⁵
  • Check order cost will be waived when the order is placed in branch or by calling us at (805) 543-1816. Waiver will apply for up to two (2) standard SESLOC check orders per calendar year only. Orders placed directly through Online Banking or by calling Harland Clarke are not waived at this time.
  • Everyday Member Benefits,6 have varying options and requirements for eligibility, redemption, enrollment and/or participation. Some benefits require agreement to separate terms and conditions. Limits and restrictions may apply. Please call us at (805) 543-1816 or visit any branch to learn how to get the most of your Everyday Member Benefits.

My Level Up status indicates I am eligible for ATM withdrawal fee waivers. At a non-SESLOC, non-CO-OP ATM, the ATM screen said I may be charged a fee.

The Level Up fee waiver benefit ⁵ at “Foreign” ATMs, or those that are non-SESLOC or non-CO-OP, is only for SESLOC’s Non-SESLOC and NonCO-OP ATM Transaction fee of $2.00. This fee will not be charged to you. The Foreign ATM operator will disclose that you may be charged a fee for the transaction by them. Any fees charged by the ATM operator still apply and will be charged as disclosed.

Which loans are eligible for a rate discount in Level 2 and Level 3?

A rate discount will only be applied to new consumer closed-end loans, such as Signature, Computer, Sustainable or Auto/Vehicle loans.⁴ Credit card, line of credit, HELOC, mortgage, share or share certificate secured, youth agricultural loans and refinancing loan(s) that you already have at SESLOC are all excluded.

The loan I’m applying for will move me up to a level with a higher rate discount benefit. Will I get the discounted rate even though I’m not in that level yet?

Yes! With every eligible loan application, we will determine whether that new loan, if approved and funded, will increase your Level Up status. If so, the applicable discount will be applied.⁴ This does not change your current Level or any other benefits outside of your current Level. Your level status for all benefits will continue to be calculated on the last day of each month.

I’m a Primary member, but I’m also Joint on another account. Will I receive the same benefits on other accounts where I’m not the Primary member?

Level Up benefits are earned on each membership based on the Primary member’s relationship with SESLOC. If you are Joint on a membership, the benefits you receive on that membership will be according to the Primary member accountholder’s Level Up status.

¹ The Level Up Member Benefits Program (“Program”) is provided by SESLOC Credit Union (“Credit Union”). The Program is available to consumer memberships, for which the primary consumer member is eighteen (18) years in age or older and is a member in good standing with the Credit Union. The Program is automatically available to an eligible consumer membership. Please visit www.sesloc.org, Online Banking or any branch for the Level Up Member Benefits Program Disclosure (“Disclosure”) for more information regarding the terms and conditions of the Program. Certain restrictions and other limitations apply. By establishing or maintaining a consumer membership you are accepting the terms and conditions of the Program. If you prefer not to participate in the Program you may opt-out, see the Disclosure for more details. The Program terms, conditions and benefits may be amended at the sole discretion of the Credit Union and are subject to change without notice, except where required by law.
² Everyday Member Benefits are not exclusive to the Program and are available to Credit Union members in accordance with disclosures and agreements between the Credit Union and the Consumer Member, including but not limited to the Member Application, the Member Account Agreement and Disclosure, Truth-in-Savings disclosures, all Fee Schedules, Rate Sheets and other account agreements and disclosures. For benefits including but not limited to Identity Theft Recovery + Mobile Phone Insurance, SESLOC Rewards, SESLOC Shred Days, EasyPay, insurance products through TruStage® Insurance Agency, LLC, and financial counseling through GreenPath, Inc., refer >to their individual Terms and Conditions disclosures located on www.sesloc.org or visit a SESLOC branchfor more details regarding benefit terms, conditions, limits, restrictions and eligibility that apply. Some services require primary consumer member to agree to separate terms and conditions. Insurance offered through TruStage® Insurance Agency, LLC is a not a deposit and is not federally insured. The insurance coverage offered through TruStage® is not sold or guaranteed by the Credit Union.
³ Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
⁴ All loans subject to credit union approval.
⁵ Restrictions apply. Refer to the Level Up Member Benefits Program Disclosure for more information

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