Increase Your Financial Power
USC Neighborhood Homeownership Program
The USC Neighborhood Homeownership Program encourages employees to purchase homes in the communities surrounding the University Park and Health Sciences campuses. Benefits-eligible faculty and staff in the program receive monthly payments totaling up to $50,000 over a seven-year period. The program is administered by the Real Estate and Asset Management Office. Applications and additional information are available online and also may be obtained from your benefits office.
USC Credit Union
USC Credit Union is the only full-service financial institution owned by its members and dedicated to serving the USC family. Because they are member-owned, they are able to offer lower loan rates and higher yields on deposits than other financial institutions. USC Credit Union offers its members auto, home, personal and education loans. They also offer high-yields on Money Market, IRA and Certificate accounts as well as on-campus branches and over 25,000 free ATMs nationwide. A wide range of checking products are also offered including the totally free Cardinal Checking Account. When you sign up for Direct Deposit, you receive discounts on loan and deposit products. To learn more about USC Credit Union, please visit their Web pages. On the University Park campus, the credit union is located on the second floor of King Hall [telephone (213) 821-7100]; on the first floor of the new Credit Union Building (CUB) [telephone (877) 670-5860]; the Health Sciences campus in Seaver Residence Hall, room 101B.
Insured Securities Option Plan (ISOP)
If your annual eligible income is $100,000 or more, you may have the opportunity to participate in an Insured Security Options Plan (ISOP), a special type of universal variable life insurance policy that allows you to accumulate wealth in a tax-advantaged way. If you are interested, your benefits office can put you in touch with Retirement Capital Group (RCG), the company that is administering the ISOP. RCG will then provide you with additional information on the plan as well as enrollment assistance. For the most favorable underwriting, you must apply within your first 60 days of employment. The ISOP is not an employer sponsored plan. You are encouraged to consult your own financial advisor to determine if the ISOP is appropriate for your financial goals.
Preferred Banking Program at Bank of America
The Bank of America at Work™ program provides a comprehensive package of discounted banking services to USC employees who have at least a portion of their salary direct-deposited to a Bank of America account. Participants receive discounts on checking accounts, preferred rates on loans, discounted fees on mortgage loans, and other benefits. New employees who have their paycheck direct-deposited to a Bank of America account may contact Bank of America at (800) 782-2265 or visit one of their participating banking centers to establish their preferred banking rates.
If you do not have a Bank of America account and wish to participate, contact Bank of America at (800) 782-2265 or visit one of their participating banking centers to establish an account. Be sure to tell them you work for USC. Once your account is established, contact your home department coordinator to complete forms to enroll in or change your designation for direct deposit. A list of participating banking centers and more detailed information about the program is available on the Bank of America Web site.
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