Global Rewards 2021 FAQs

GENERAL QUESTIONS

  • WHAT IS THE GLOBAL REWARDS PROGRAM?

    BFSFCU’s Global Rewards is our new total relationship rewards program for all members in good standing. The program offers access to premium rates on our new Premier Checking account, discounts on rates for personal and auto loans, mortgage cash rewards, and fee rebates for select services, such as ATM surcharges, debit card foreign transaction fees, and wire transfer fees.  There are three levels of rewards, and your rewards level is determined by your Total Relationship Balance with the Credit Union.

  • HOW IS MY TOTAL RELATIONSHIP BALANCE CALCULATED?

    Your Total Relationship Balance is calculated on the first day of each month by adding together the prior month’s average balances for deposits and month-end balances for loans and credit cards.

  • HOW DO I QUALIFY FOR GLOBAL REWARDS?

    Members in good standing qualify for Global Rewards and are eligible for the CHOICE, PLUS, or OPTIMUM Rewards level based on their Total Relationship Balance. Only personal accounts are eligible for the Global Rewards program, and we exclude CU Student Choice loan balances.

  • DO I NEED TO ENROLL FOR THE GLOBAL REWARDS PROGRAM?

    No Enrollment is necessary to join the Global Rewards program, but some Global Rewards benefits will require your action. For example, the Premier Checking Account requires that you notify us if you wish to open a new Premier Checking Account or upgrade an existing checking account to this new account. Another example are loan discounts. For a loan discount to apply, a loan application needs to be submitted and approved. Please review the disclosures and FAQs to obtain further information.

  • WHAT ARE THE BALANCE REQUIREMENTS FOR EACH LEVEL?

    The three levels of BFSFCU Global Rewards and their qualifying criteria are as follows: 

    1. CHOICE Rewards: No minimum deposit or loan balance required. 

    2. PLUS Rewards: Total Relationship Balance between $50,000 to $249,999 required on your combined loans and deposits, and a minimum $15,000 balance on an open BFSFCU loan. 

    3. OPTIMUM Rewards: Total Relationship Balance of $250,000 or more required on your combined loans and deposits. No minimum loan balance required.
  • I HAVE A BFSFCU CREDIT CARD. IS IT MY CREDIT LIMIT OR MY MONTHLY BALANCE THAT COUNTS TOWARDS MY TOTAL RELATIONSHIP BALANCE?

    The balance on your BFSFCU credit card at the end of each month will be counted towards your Total Relationship Balance calculation.

  • HOW DO I MOVE TO A DIFFERENT GLOBAL REWARDS LEVEL?

    Your Total Relationship Balance is calculated on the first day of each month, and you may move between Rewards levels each month as your Total Relationship Balance changes. View the balance thresholds and rewards for each level here

    Examples:

    Example CHOICE to OPTIMUM:

    If your Total Relationship Balance with BFSFCU is currently less than $50,000 (CHOICE) and you add a $280,000 mortgage loan, you will automatically move from CHOICE to OPTIMUM on the first day of the following month since your Total Relationship Balance now exceeds $250,000.  

    Example CHOICE to PLUS:

    If you have a deposit balance of $40,000 in your Checking account, and you apply and get approved for a $25,000 auto loan, you will automatically move from CHOICE to PLUS on the first day of the following month since your Total Relationship Balance now includes the minimum loan balance required for PLUS and now exceeds $50,000.

    Rewards levels are recalculated each month, so be sure to log in to Digital Banking and check your Global Rewards level! Once you log in to Digital Banking, go to ‘Self-Service’ and then click on ‘Global Rewards’ to view the wide variety of valuable rewards that come with each level.

  • IF I HAVE ONE OR MORE JOINT ACCOUNTS, WILL THOSE BALANCES COUNT TOWARDS MY TOTAL RELATIONSHIP BALANCE CALCULATION?

    Yes, the balances on shared ownership BFSFCU accounts count towards the calculation of your Total Relationship Balance and can move both you and the joint owner to the next Global Rewards level. 

    Examples:

    Example #1:

    If you and the joint borrower share a $280,000 mortgage, the $280,000 balance will be included for each of your Total Relationship Balance calculations, and you will both qualify for OPTIMUM Rewards. 

    Example #2:

    If you and a joint owner have BFSFCU checking and savings accounts with a combined balance of $70,000 and share a $25,000 BFSFCU auto loan, you will both qualify for PLUS Rewards. 

      

  • WHO CAN I CONTACT FOR MORE SUPPORT?

    For any questions related to the Global Rewards program, send us a secure message using the Self-Service Menu within Digital Banking, and we will be happy to help. You may also reach out to one of the BFSFCU Member Service Representatives or Loan Officers during your next visit to our Branches or Lending Center.



QUESTIONS ABOUT OUR PREMIER CHECKING ACCOUNT
 



QUESTIONS ABOUT REBATES AND REWARDS
 

  • HAS THE ATM SURCHARGE FEE REBATE PROGRAM CHANGED?

    Yes. ATM surcharge fee rebates are now included as part of the Global Rewards program. Effective January 1, 2022, ATM surcharge fee rebates are based on your rewards level. Rebates range from $5 per month to unlimited!

    1. Members at the CHOICE REWARDS level receive rebates up to $5 per month
    2. Members at the PLUS REWARDS level receive rebates up to $20 per month
    3. Members at the OPTIMUM REWARDS level receive unlimited rebates

    ATM surcharge fees may be assessed by the owner or operator of the out-of-network ATM. BFSFCU does not charge BFSFCU members ATM Transaction Fees for using BFSFCU debit cards at any ATM.  BFSFCU members have surcharge-free ATM access to their accounts at over 30,000 surcharge-free ATMs across the U.S. and Canada, including 7-Eleven locations through the CO-OP Network and the Alliance One Network. Find an ATM nearby here, or text your street address or zip code to 91989 for the closest ATM location. Whenever possible, use an in-network ATM, such as CO-OP or Alliance One Network, to avoid out-of-network ATM fees!

  • IF MY GLOBAL REWARDS LEVEL IS CHOICE REWARDS, DOES THAT MEAN I NOW HAVE TO PAY FOR ATM WITHDRAWALS?

    As a BFSFCU member, you have surcharge-free ATM access to your accounts at over 30,000 ATMs across the U.S. and Canada, including 7-Eleven locations through the CO-OP Network and the Alliance One Network. Find an ATM nearby here or text your street address or zip code to 91989 for the closest ATM location. You can also download the CO-OP Network app for your Apple or Android device. Whenever possible, use an in-network ATM, such as CO-OP or Alliance One Network, to avoid out-of-network ATM fees!

  • HOW LONG WILL IT TAKE FOR ME TO RECEIVE THE GAP INSURANCE DISCOUNT REBATE?

    The GAP insurance rebate will be credited to your open checking or savings account 120 days after the insurance has been purchased. An open checking or savings account is required for your rebate to be processed and credited.

  • HOW WILL I RECEIVE MY MORTGAGE CASH REWARD?

    Your reward will be applied as a lender credit at the time of your mortgage closing.

  • DO I NEED A SAVINGS OR CHECKING ACCOUNT TO RECEIVE REBATES?

    Yes, you must have an open savings or checking account to receive the Global Rewards rebates.