One for All Rewards FAQ

View our Rewards Chart for details on earning and redeeming points!

Program Information: Rules and the Points System

How does the Rewards program work and how do I sign up for it?
How much does it cost? 
How should I manage or get information about my One For All Rewards points?
Who can redeem the points on an account?   
Can I transfer my points to another Credit Union 1 member?   
Can I buy points?
Who do I contact if I believe a mistake has been made in my points history?
What happens if my account is closed?
What is a "pending request?"
What is the difference between "Current" and "Available" points balance? 
Can members be suspended from the One For All Rewards Program? Why?

Earning Points

How do I earn points?
Do my points expire?
Do business accounts earn points?
How do new account and loan bonus points work?
What are debit card "signature-based" transactions?
How do I earn Rewards points with my Credit Union 1 credit card?

Redeeming Points for Rewards

How do I redeem points?
What kind of Rewards can I get?
When will I get my Rewards items?
Are there any limitations on redeeming points?
Can I use my points to get a discount on a home loan?
Can I use more than one certificate premium at once on a single certificate?
If I use a certificate premium on an existing certificate, what rate will I get?


Program Information: Rules and the Points System

How does the Rewards program work and how can I sign up for it?

If you’re a Credit Union 1 member, you’re already signed up! The One for All Rewards program is how we show our members we appreciate you and your business! Points are earned based on the products and services you use with us and the average daily account and loan balances you carry. For a complete breakdown of how to earn points, check out the Rewards Chart.

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How much does it cost?

It's 100% free!

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How should I manage or get information about my One for All Rewards points?

In OnLine Access! By logging into your CU1 account online, you can watch your points accumulate, redeem them and more. Your monthly account statement includes a summary of Rewards program activity, such as the number of points earned in a month and the number of points redeemed. Alternatively, you can manage your points by phone or at any branch. Keep in mind, the credit union only retains 12 months of history related to your Rewards program activity. Any history beyond 12 months is purged from the credit union’s records (but your points don't expire!).

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Who can redeem the points on an account?

Any owner of an account who is either a borrower or co-borrower (for loans) or a signer (for deposits) can redeem points. A "signer" is defined as someone who can withdraw funds or sign a check on that account.

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Can I transfer my points to another Credit Union 1 member?

Yes. If you're using OnLine Access, click "One for All" and select "transfer points" from the list of links. Or, you can call the Member Service Center or visit any branch and we can make the transfer for you.

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Can I buy points?

No, but there are lots of ways to earn them! We reward you based on the products and services that you use with us, so the only way to earn more points is to do more financial business with Credit Union 1.

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Who do I contact if I believe a mistake has been made in my points history?

If you think there is an error on your points statement, write to us at: Credit Union 1, 1941 Abbott Road, Anchorage, AK 99507. You may also contact us via e-mail at service@cu1.org or fax at (907) 339-8501. You must contact us within 60 days after the suspected error appeared on your statement. In your letter, please give us the following information:

  • Account information: Your name and member number. (Note: If contacting us via e-mail, please do not include your member number.)
  • Points amount: The points amount of the suspected error.
  • Description of the problem: If you think there is an error on your statement, describe what you believe is wrong and why you believe it is a mistake.

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What happens if my account is closed?

You lose your points immediately if your Regular Share (S1) is closed by you or the credit union.

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What is a pending request?

A pending request is the time between when you request a redemption and when the credit union reviews and processes it. In most cases, this should take no more than two business days (Monday through Friday).

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What is the difference between "Current" and "Available" points balance?

Available balance shows the amount of points you currently have, minus any pending Rewards requests. Current balance does not subtract pending points redemptions, so this number may be inaccurately high if you have a redemption pending. For example: You have 20,000 points and redeem 5,000 for a $25 gift card. Your available balance is 15,000, but your current balance shows 20,000 because the reward hasn't been fully processed by the credit union yet.

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Can members be suspended from the One For All Rewards Program? Why?

Yes. Suspensions would generally happen because an account is not in good standing with the credit union (i.e. it may be overdrawn or delinquent). It's also possible that legal action might have been taken against the account. If you think your Rewards program has been suspended incorrectly, please call us or visit your local branch to explain the situation so that we can look into it.

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Earning Points

How do I earn points?

The main way to earn points is through your monthly average account and loan balances. You can also earn points each month for signature-based (non-PIN)  debit card spending and for using the credit union's Bill Pay and E-Statement services. Also, you'll earn bonus points when you open new business with the credit union -- i.e. a new loan or your first checking account.


The Rewards Chart outlines exactly how you can earn points and what you can redeem them for.

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Do my points expire?

No. As long as you are a member in good standing with Credit Union 1, you will be able to use your points, regardless of when they were earned. We encourage members to save their points to get bigger rewards!

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Do business accounts earn points?

Yes, business accounts earn points just the same as personal accounts. Please note that Credit Union 1 does not lend to businesses, so you will not be able to redeem points for a loan discount unless you transfer them to a separate personal account.

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How do new account and loan bonus points work?

  • You will receive 500 points for your first checking account at Credit Union 1. 
  • If you sign up for automatic payments at the time you close your new loan you will receive 500 bonus points.
  • For your first certificate relationship with the credit union you will receive 500 bonus points.
  • We're going to reward you every time you come to us for a loan! For each loan opened with a balance of $2,500-$19,999 you will receive 500 points. For a $20,000-$99,000 loan you will receive 1,000 points, and for loans with a balance greater than $100,000 you will receive 3,000 points.

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What are  debit card "signature-based" transactions?

A "signature-based" transaction happens whenever you “swipe and sign” with your Credit Union 1  debit card and complete the transaction by signing instead of inputting your PIN. Usually, to be sure you're making a signature-based transaction in a store, when they ask you the "debit or credit?" question, say "credit."

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How do I earn Rewards points with my Credit Union 1  credit card?

You earn one (1) point for every $100 of balance on your Credit Union 1 credit card each month. It's your card's outstanding balance (how much you owe) that earns you points. For example: if during the month you carry an average balance of $2,000 on your card, you'll earn 20 points.

Redeeming Points for Rewards

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How do I redeem points?

We recommend managing your Rewards in OnLine Access. You can also redeem points by contacting the credit union by phone or visiting any branch.

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What kind of Rewards can I get?

There are several kinds of Rewards.

  • Loan interest rate discounts offer you options of discounting a new or used auto loan by .25% and will save you money on the life of your loan.*
  • With certificate premiums, you can earn a higher dividend rate on a savings certificate. 
  • Finally, you can redeem points for a variety of gift cards, or embrace the “One for All” love and donate your points to a wide variety of charities. 

*Only one interest rate discount is allowed on the life of any loan. Limitations to rates apply. The lowest possible interest rate, with rate discount is 2.0%.
The Rewards Chart outlines loan discount limitations and exactly what you can redeem your points for.

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When/how will I get my Rewards items?

Gift cards should typically be received by mail within 15 days from the day the request was submitted. You have up to 30 days from the day the request was submitted to report a lost card. After 30 days a gift card will not be reissued. Interest rate discounts to existing loans or premiums on existing certificates take about two business days to process.

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Are there any limitations on redeeming points?

Yes. You may only redeem 100,000 points for gift certificates (approx. value $500) during an entire year. This limitation is so we can best comply with IRS regulations. You may redeem as many points as you want for certificate premiums and loan interest rate discounts, but remember that any single loan or certificate can receive only one discount/premium in its lifetime.

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Can I use my points to get a discount on a home loan?

At this time, points may be redeemed for a .25% interest rate discount for new and used auto loans only. For more information please review our One For All Rewards Chart .

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Can I use more than one certificate premium at once on a single certificate?

There can only be one premium per certificate term. A certificate rollover is considered a new certificate; therefore, points may be redeemed for another certificate premium. Please check the One For All Rewards Chart for details.

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If I use a certificate premium on an existing certificate, what rate will I get?

It depends on the value of your certificate; you will earn between 5 and 10 basis points (.05-.10%) over your current dividend rate.

  • If you spend 5,000 points and your certificate is below $40,000, you’ll get an additional 10 basis points (.10%)
  • If you spend 5,000 points and your certificate is $40,000 or more in value but under $100,000, you’ll get an additional 5 basis points (.05%)
  • If you spend 10,000 points and your certificate is $100,000 or more in value, you’ll get an additional 5 basis points (.05%)

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