As a not-for-profit cooperative financial institution, participation by our members is how we succeed. Co-op Points* were designed to reward members and businesses for participating in the cooperative. You are automatically enrolled at account opening so you can start earning points right away.
Co-op Points
Get More From Your Membership with Co-op Points
Co-op Points reward UMassFive members and businesses for participating in our cooperative. 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.
Lower Rate on a New Loan!
Members can lower rates on most† new consumer loans with UMassFive, up to 0.25%† (this includes Auto loans, Solar loans, Personal loans, and more).
Raise the Rate on a New Term Deposit Certificate!
Members and businesses can increase rates on a new Term Deposit certificate, up to 0.25%. (excluding Youth and Graduate Term Deposits).
Waive a Service Charge!‡
Members and businesses can waive many of the priced services we offer (examples include money orders, overdrafts, rushing a debit card replacement that needs to be mailed, and much more). Please reference our member and business service prices schedules to better understand which items can be waived through our Co-op Points program.
Service Price/Point Redemption Values
| Service Price Amount | Points Needed‡ |
| < = $5 | 250 pts |
| > $5 and < = $10 | 500 pts |
| > $10 and < = $20 | 1,250 pts |
| > $20 and < = $30 | 1,500 pts |
| > $30 | 1,750 pts |
Redeeming your Co-op Points is simple. Members can reach out to our Contact Center or speak with any UMassFive staff member to apply Co-op Points to any qualified product or service.
Co-op Points are transferable to other members and accounts. Members often do this with family members, colleagues, or even friends. Businesses are able to transfer points from their personal accounts to their business accounts, and vice versa.
While each primary membership has their own Co-op Points account, any joint owners of the membership can also redeem or transfer Co-op Points without the need to gain permission from the primary account owner.
Disclosures
**Interest paid on Mortgages, Student Loans, Visa® Credit Cards, and Commercial Loans do not earn Co-op Points at this time. Points are awarded at the end of every statement period. Interest and dividend Points began accumulating on 1/1/06. Points are earned on the whole dollar only; there is no "rounding up."
† Rate buy-down excludes all lines of credit, Mortgages, Student Loans, Visa® Credit Cards, and Commercial loans.
‡ Some priced services cannot be waived using Co-op Points. Ineligible priced services include but are not limited to mortgage discharges, credit card charges, abandoned property and inactivity charges, and ATM transaction charges. See the member and business service prices schedules for a complete list.