Wescom CU Rolls out Reward Incentive Money Market Account
PASADENA, Calif. - Wescom Credit Union has introduced a new money market product called the Asset Maximizer Account, which is designed to reward members who invest with Wescom Financial Services, its wholly-owned subsidiary. In order to qualify for the new account, Wescom members must maintain a minimum of $10,000 in their full-service WFS investment account. Qualifying members can open up the account with a minimum $2,500 deposit. According to the $3 billion credit union, the new product allows three checks per month, the ability to obtain liquid funds and offers "an above average market rate compared to a traditional money-market account." Launched April 1, the account pays a higher rate than Wescom's traditional money market account, the credit union said. "The new AMA is a great way to build relationships by rewarding our members who consider Wescom their trusted advisor," said Keith Pipes, senior vice president of Wescom Financial Services. "This new product is also another way to make more members aware of WFS and help them identify and pursue their important financial goals such as retirement and funding for college." Wescom recently started offering a 401(k) consultation program that reviews whether members are considering all their options in retirement planning using the popular investment tool. The credit union also offered the program to members at $667 million KeyPoint Credit Union.