Core Insights - LendingClub Bank has launched LevelUp Checking, a digital-first financial solution that rewards members for making smart financial decisions and using their own money rather than borrowing [1][2] Group 1: Product Features - LevelUp Checking offers 1% unlimited cash back on debit card purchases for gas, groceries, and pharmacy items [1][6] - Members with a LendingClub personal loan can earn 2% cash back on their monthly loan payments made from their LevelUp Checking account [1][9] - The program is designed to encourage responsible spending and financial behavior among members [2][3] Group 2: Member Benefits - Current LendingClub members can access LevelUp Checking by enrolling in direct deposit, and new members can join by taking out a personal loan or opening a LevelUp Savings account [3][4] - Members using multiple LendingClub products can maximize their rewards, such as earning higher cash back for on-time loan payments [3][4] - The LevelUp Checking account has no account fees, no minimum balance requirements, and offers unlimited ATM rebates [5][10] Group 3: Market Insights - A recent survey indicated that 31% of consumers prioritize rewards or cash back when choosing a credit card, highlighting the demand for such financial incentives [2][11] - The survey also revealed that 42% of consumers have increased their credit card spending primarily on food and groceries due to rising living costs [2][11]