The Options Advantage: How Members Earn Lower Loan Rates and Exclusive Rewards
- Options Credit Union
- 20 minutes ago
- 6 min read
When you bank with Options Credit Union, you’re not just opening an account — you’re building a financial relationship that grows over time.
That's why we created our member rewards program, Options Advantage Rewards. The program is designed to give active members better rates, exclusive perks, and meaningful savings on the financial products they use every day. Through Options Advantage Rewards, members may qualify for lower loan rates, bonus certificate yields, and exclusive member benefits simply by building their relationship with the credit union.
Because at Options Credit Union, membership should always work in your favor. We believe members should be rewarded for the relationship they build with their credit union.
How the Options Advantage Rewards Program Works
Our rewards program recognizes members who build strong financial relationships with Options Credit Union. The more you engage with Options Credit Union and use our products and services, the greater the rewards you may qualify for.
Over time, we will continue expanding the program with new rewards and opportunities designed to help members save more and get more value from their membership.
Members may qualify for over 2% in combined loan discounts through Options Advantage!
Loyalty Advantage Reward
Our loyalty advantage program currently features two tiers designed to recognize different levels of engagement:
Tier 1- Advantage Membership
To qualify, maintain: Have an active checking account with Payroll or Social Security direct deposit of at least $500 per month, and at least two of the following criteria:
10 or more posted debit card transactions per calendar month
Have, or had, at least one consumer loan (auto, personal, Visa, or similar) with positive payment history
Have a current real estate loan with positive payment history (counts as two qualifiers)
Maintain a combined savings/CD balances of $1,500 or greater
Be enrolled in eStatements
Tier 2 - Premier Advantage Membership
To qualify, maintain: Have an active checking account with Payroll or Social Security direct deposit of at least $1,500 per month, and at least two of the following criteria:
20 or more posted debit card transactions per calendar month
Have, or had, at least two consumer loans (auto, personal, Visa, or similar) with positive payment history
Have a current real estate loan with positive payment history (counts as two qualifiers)
Maintain a combined savings/CD balances of $5,000 or greater
Actively use Bill Pay
Current Loyalty Advantage Rewards at a Glance
Benefit | Advantage | Premier Advantage |
Loan Rate Discount | 0.25% | 0.50% |
Certificate Bonus | +0.10% | +0.25% |
Home Equity Appraisal | 50% off | Waived |
Special Note: Rewards apply to new originations and new certificate deposits only. Existing loan and certificates are not retroactively adjusted, and existing loans cannot be internally refinanced to receive the reward. Loan rates remain subject to the credit union's floor rate.
Legacy Rate Advantage Reward
Members also qualify for additional rate benefits based on the length of their membership, rewarding those who have built a long-term relationship with the credit union.
The longer you are a member, the more opportunities you will have to benefit from relationship-based pricing, exclusive offers, and additional Options Advantage rewards.
Current Legacy Rate Advantage Reward at a Glance
Legacy Rate Advantage |
0.05% loan rate discount for each year of membership on auto and personal loans |
Example:
1 year of membership = 0.05% discount
10 years of membership = 0.50% discount
20 years of membership = 1.00% discount
Special Note: This reward is cumulative. Loan rates remain subject to the credit union's floor rate.
Advantage Discount Rewards
As our credit union continues to grow, we are adding even more ways for members to benefit from their relationship with us. These additional rewards are designed to help members lower borrowing costs while maximizing the value of their membership.
Current Advantage Discount Rewards at a Glance
Advantage | How To Earn It | Discount |
Equity Advantage | Finance no more than 80% of your vehicle's value | 0.50% |
Payment Advantage | Enroll in automatic loan payments | 0.25% |
Dealer Advantage | Purchase your vehicle from a CU Preferred Dealer | 0.25% |
Bring It Home Advantage | Refinance an auto loan from another lender with Options | 0.50% |
Special Note: Bring It Home only applies to auto loans coming from another lender that are at least 12 months old with positive payment history.
How Much Can Members Save With Options Advantage?
A member of 5 years qualifying for Premier Advantage purchasing a new vehicle from a CU Preferred Dealer could receive:
0.50% Loyalty Advantage
0.25% Legacy Rate Advantage
0.50% Equity Advantage
0.25% Payment Advantage
0.25% Dealer Advantage
That could mean over 1.75% in total rate reductions on a qualifying auto loan. On a $30,000 auto loan, that could save thousands in interest expense. That is the Options Advantage!
$30,000 for 84 months at 6.15% - estimated interest cost through the life of the loan = $6,998.65
$30,000 for 84 months at 4.40% - estimated interest cost through the life of the loan = $4,913.78
Total estimated savings: $2,084.87
Find out how much you could save with Options Advantage:
Options Advantage Frequently Asked Questions
What is the Options Advantage Program?
Options Advantage is the rewards program at Options Credit Union that provides members with better loan rates, bonus savings opportunities, and exclusive perks for building an active financial relationship with the credit union.
How do I qualify for the Loyalty Advantage reward?
Members qualify by maintaining an active checking account with payroll or Social Security direct deposit and meeting additional activity requirements such as debit card usage, loan relationships, savings balances, or other qualifying services. Members who meet the requirements may qualify for either Advantage Member or Premier Advantage Member status.
Can Options Advantage rewards be combined?
Yes. Many Options Advantage rewards and loan discounts can be stacked together, allowing members to potentially receive a larger total discount on qualifying loans. All rate adjustments remain subject to the credit union’s minimum floor rate.
What is the Legacy Rate Advantage reward?
Legacy Rate Advantage rewards members for long-term membership. Members receive a 0.05% loan rate discount for each year of membership on qualifying auto and personal loans. For example, a member with 10 years of membership may qualify for a 0.50% rate discount.
How often is my reward status evaluated?
Qualification status is evaluated based on account balances and activity during the previous 90 days and is verified at the time of loan application or certificate deposit.
Can I qualify for the Premier Advantage reward automatically?
Members who meet the higher direct deposit threshold and activity requirements may qualify for Premier Advantage Member status, which provides enhanced loan discounts and savings benefits.
How can I qualify for a lower auto loan rate at Options Credit Union?
Members may qualify for lower auto loan rates through the Options Advantage Rewards Program, which offers relationship-based loan discounts. Additional discounts may also apply based on factors such as loan-to-value, automatic payments, refinancing an existing loan from another lender, and membership tenure.
Can refinancing my auto loan lower my rate?
Yes. Members who refinance an auto loan from another financial institution may qualify for additional rate incentives through the Bring It Home Advantage reward. Refinancing may help lower your interest rate, reduce your monthly payment, or both.
Why do credit unions often offer lower loan rates?
Credit unions are member-owned financial cooperatives, meaning profits are returned to members through better loan rates, lower fees, and higher savings opportunities. Programs like Options Advantage allow credit unions to further reward members who maintain an active financial relationship.
How much can I save with Options Advantage Rewards?
Options Advantage rewards and discounts may be combined in many cases, allowing members to receive multiple rate reductions on qualifying loans. The total discount depends on the rewards a member qualifies for and remains subject to the credit union’s minimum floor rate.
Terms and Conditions: Qualifier status will be verified at the time of deposit/application. The rewards level is calculated and based on balances and activity from the prior 90 days. Payroll direct deposit is defined as recurring ACH payments from an employer. Other deposits such as checks, transfers, Venmo, Zelle, Cash App, and PayPal do not qualify. Bill pay is considered active with at least one payment per month. Rate rewards and qualifying thresholds may be revised at any time based on market conditions and program performance. Options Advantage rewards and discounts may be stacked but remain subject to the credit union's floor rate. The following products are excluded from the Options Advantage program: Revolving loans, CD Secured loans, Credit Builder loans, Freedom loans, and Credit Cards. Promotional loan rates, rate matching, or special certificate promotions cannot be combined with an Options Advantage adjustment. Rewards are not available for business accounts/members.