The Co-operative Spirit

Co-op Points* were developed to thank
our members for doing business with us!
As a non-profit, co-operative financial institution, participation by our members is how we succeed. Member deposits allow us to make member loans. Those loans earn us the income to pay dividends on your shares. The more you get involved, the more Co-op Points you earn. You can then use them for big rewards on some of UMassFive’s most desired products and services!

How You Earn Co-op Points
How to Redeem Your Co-op Points?
How Do You Get Started With Co-op Points?


Earning Co-op Points

You Earn Co-op Points Automatically!**

• 1 Point for every $1 of dividends you earn on Term
  Share Certificates, Savings Accounts, or Share Draft
  Accounts. 
  
  
• 1 Point for every $1 of interest you pay on most Credit Union loans.
  
  
• 1 Point for every $5 you spend using your Debit Card for purchases.
  
  
• 100 Points for every year you are a member.
  
  

Earn Co-op Points with Products & Services!

• 100 Points for signing up for eStatements.
• 100 Points for signing up for EZbank Online Banking.
• 150 Points for opening a Share Draft account.
• 150 Points for setting up direct deposit.
• 100-500 Points for a Term Share Certificate maturity (based on term).
• 250 Points for attending a Financial Literacy workshop.
• 250 Points for an initial consultation with one of our Financial Advisors.
• 300 Points for using EZbank Bill Payer.
• 300 Points for opening a VISA Credit Card.
• 500 Points for paying off a Vehicle Loan.
• 500 Points for referring a family member or co-worker.
• 1,500 Points for opening a Mortgage.

As of January 1, 2006, every member was given 100 points retroactively for each year of membership.

Redeeming Co-op Points

Spend those Co-op Points!

Lower a Rate on a Loan!
That’s right. With 2,500 Co-op Points you can reduce your consumer loan rate by .25%. Got 5,000 points? You can reduce that rate by .50%!†

Raise the Rate on a Term Share Certificate!
2,500 points will raise your interest rate by .25% and 5,000 points will raise it by .50%!

Waive a Fee!††
Want to get out from under a fee? Many fees can be paid with points. To know how many points it will cost to pay a fee, refer to the chart below.



Fee amount	Points needed to waive
<=$5	100
>$5 and <=$10	250
>$10 and <=$20	500
>$20 and <=$30	750
>$30	1000

Redeeming your Co-op Points is simple. Just call our Call Center at 800.852.5886 or speak with any UMassFive staff member and they’ll be glad to apply your Co-op Points to any qualified product or service.


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How do you get started with Co-op Points?

You are automatically enrolled in Co-op Points. You can check your Co-op points balance in several ways:

• Click here to check your points online. You can also click the "Log-in" button at the top of this page or the "Co-op Points" button on the right side of the toolbar from anywhere on the UMassFive site. The first time you logon your temporary username will be your Member Number and your password will be the last four digits of your Social Security Number.
  
  
• Call us at 800.852.5886 and speak to any of our helpful Representatives.
  
  
• Come into a branch and ask any staff member to look up your point balance.
  
  
• Check your monthly eStatement or paper statement. Your Co-op Points are featured in the top left hand corner under your address.

Not only can you find out how many Co-op Points you currently have, but the system will also keep a total and a history of your Co-op Points transactions.

For more information or to start using your points call us today at 800.852.5886 or come in to any branch.



*  Co-op Points is a program of UMassFive College Federal Credit Union. The program is subject to change or may be withdrawn without notice. Points earned remain the property of the member for up to one year after the program's termination unless earlier forfeited by resignation or termination of membership, or default on any Credit Union loan or obligation.

** Interest paid on Mortgages and VISA Cards do not earn Co-op points at this time. Points are awarded at the end of every statement period. Interest and dividend points begin accumulating on 1/1/06. Points are earned on the whole dollar only; there is no "rounding up."

†  Rate buy down excludes real estate loans, lines of credit, and VISA cards.

†† Some fees cannot be waived using Co-op points. Ineligible fees include but are not limited to: mortgage discharges, credit card fees, abandoned property and inactivity fees, and ATM transaction fees. See our fee schedule for a complete list.

‡  Investment products and services offered through CUSO Financial Services, L.P. (CFS), an independent broker/dealer, are not NCUA/NCUSIF insured, not Credit Union guaranteed, and may lose value. Advisors are employed by UMassFive College Federal Credit Union and registered through CFS. (Member FINRA/SIPC)

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For questions or assistance, please contact a Representative or email us today!