Friday, January 2, 2015

CO-OP Network: Provides Thousands of Branches to NAECU Members

When people ask how many branches NAECU has, the answer might surprise you: Over 5,000 physical branches throughout the United States and foreign locations. That's right, over 5,000 branches. Many of the large regional banks don't offer that many locations. How can an $85 million dollar credit union like NAECU offer more branch locations than a multi-billion dollar regional bank?

Cooperation among credit unions, that's how. The CO-OP Network is a collection of individual credit unions all over the country that have banded together to provide common resources that benefit all credit union members within the network group. Participating credit unions offer their branches and staff to post transactions on your host credit union. Have a child attending college out of town in Tuscaloosa, Alabama? There are 4 CO-OP Network branches available there. Have a child attending college out of town in Auburn, Alabama? There are 2 CO-OP Network branches available there. Have a child out of state in Nashville, Tennessee? There are 13 CO-OP Network Branches available there. Members of NAECU can perform transactions on their NAECU accounts at these CO-OP Network branches. Available transactions include deposits, withdrawals, loan payments, account transfers, account history reviews, and known payroll check cashing. THERE IS NO FEE TO NAECU MEMBERS FOR USING THESE SERVICES. Cashier's checks can be purchased for a small fee.

The CO-OP Network also provides nearly 30,000 surcharge free ATM locations!

Members of NAECU with accounts older than 90 days can utilize the CO-OP Network and enjoy the greatly expanded access to their account(s) with NAECU.

Members are encouraged to visit http://www.allco-op.org/ for CO-OP Network information and a search engine for available locations by city or zip code. Phone apps and a texting option are available. An automated phone search for locations is available at 1-888-748-3266 or live help is available at 1-888-837-6500.

The CO-OP Network is an incredible free benefit available to members of NAECU. Check it out!






Tuesday, December 23, 2014

Merry Christmas to All


 
 
This past year as seen its share of sorrows and tragedy throughout the world. As we each settle in our holiday gatherings and Christmas events, hopefully we will all spend some time focusing on the blessings that each of us enjoy. Our blessings are many when we stop to consider all that we take for granted. We all typically want more than we really need. We are each blessed to celebrate yet another Christmas on this earth. Be mindful of those around you have lost a loved one this past year. Comforting these individuals is the best gift that we can provide.
 
Merry Christmas to All !!



Friday, December 5, 2014

Surprise Branch Visitor - Monkey!

 
 
You never know what the new day of a credit union operation will bring from one day to the next. Some time ago our Sparkman branch was blessed with a surprise visitor as a guest of one of our credit union members. Our branch staff and fellow members in the office were surprised to see a pet monkey coming through our front door of the branch with our member. The monkey (don't have the pet name) was very well behaved and seemed to enjoy visiting the office. Like many other members and children who visit our offices, the monkey did enjoy a complimentary sucker during its visit. Not sure if the sucker was banana flavored or not.


Our surprise visitor was a highlight of the day for the staff. It reinforces the idea that you truly never know what will come through the front door. 


Wednesday, December 3, 2014

Reminder on Eligibility with NAECU

People often hear our name, North Alabama Educators Credit Union, and mistakenly think that they must be a teacher to use the services of the credit union. Not so! While the initial origins of the credit union began with teachers back in 1955, our field of membership has expanded over the years to include many different organizations and association groups. A full listing of membership eligibility methods is included at http://naecu.org/about/index.php .

All students of public or private schools located in the Alabama counties of Madison, Morgan, and Limestone are eligible to join North Alabama Educators Credit Union. That is a sizable group of eligible people that may or may not be aware that the credit union could be a benefit for them. For any parents out there who do not have accounts already established for their children, the credit union is a great place to get them started for a safe savings outlet. Better than that piggy bank on the dresser! North Alabama Educators Credit Union has a Kirby Kangaroo Club for younger children and a CU-Succeed Club for teens. Both offer micro-sites on our home page that help to educate and entertain our youth members. (Located in the bottom right corner of our home page at www.naecu.org.)

All members of Parent-Teacher organizations (PTA, PTO, PTSA) of schools located within the Alabama counties of Madison and Limestone, or within the City of Decatur, Alabama are eligible for membership in the credit union. North Alabama Educators Credit Union proudly supports these Parent-Teacher organizations and encourages parents and caregivers to participate in their local school organizations. Many of the Parent-Teacher organizations have a multitude of benefits associated with those who join their organizations, and credit union services through North Alabama Educators Credit Union is one of those benefits.

Additional sponsor groups and eligibility methods are listed on the linked page above. Again, don't be fooled by our name. Part of our "Educators" objective is to help our member-owners to improve their own financial bottom line, not ours. Improving financial literacy throughout the community, especially to teen students approaching college, is a lifestyle benefit that can pay great dividends into the future.



Monday, October 20, 2014

Identity Theft Solutions - Member Security Center

https://www.membersecuritycenter.com/
Protecting your identity is one of the most important safeguards you can manage in this world of data exchanges. Your identity is important to you but have you considered how valuable your identity might be to a criminal? The total financial losses attributed to identity theft in 2013 were $24.7 BILLION which was much higher than the identity theft losses of $13.2 BILLION in 2010. (SOURCE: U.S. Department of Justice). Identity theft crimes are clearly on the rise. What steps can you take to protect your good name and credit?

North Alabama Educators Credit Union has partnered with the Member Security Center (MSC) to provide a new service that we are excited to offer to our members. The MSC is an affordably priced identity theft solution that has many features for our members. MSC’s Cyber Watch monitoring service scans thousands of websites, chat rooms, forums and networks and alerts members if their non-public information is being traded on the Internet. This proactive approach will allow members to act early and will help them to avoid becoming a victim of identity theft in the first place. There are three reasonable pricing plans of $1.95 monthly, $3.95 monthly, or $12.95 monthly.

These reasonably priced retail MSC identity theft solutions are powered by the same identity theft wholesaler that supplies identity theft retail products for the big national brand names out there. The difference is you don’t pay twice as much for the same level of identity theft protection and monitoring. This is more of a member service for the credit union members of North Alabama Educators Credit Union, not a big profit maker.

I signed up for the $3.95 monthly service on the first day and was amazed to see the number of sex offenders within a relatively small radius. If a registered sex offender moves near our area I will receive an alert stating as such. If a new credit account is opened I will receive a notification on that. There are professional resources and money coverages for costs associated with restoring your identity should that occur. Other valuable services are available depending on the product level selected.

Members are encouraged to take a look at this MSC Identity Theft program. If you already have an identity theft product, compare it with the various MSC programs available. If you do not have an identity theft program protecting your good name now, we would strongly encourage you to consider adopting some type of managed identity theft program. Unfortunately, the world we live in now translates to more of a “when” scenario rather than an “if” scenario in terms of becoming an identity theft victim.

The MSC Identity Theft website has plenty of useful resources and information to help our members make an informed decision on possible identity theft coverage.


 

Friday, October 10, 2014

IRS Scam by E-mail

Below is the text of an e-mail received claiming to be from the Internal Revenue Service;

******************************************************************

Subject: Your FED TAX payment (ID:3Q5IRS367654547) was Rejected

*** PLEASE DO NOT RESPOND TO THIS EMAIL ***

Your federal Tax payment (ID: 3Q5IRS367654547), recently sent from your checking account was returned by the your financial institution.

For more information, please download notification below. (Security PDF Adobe file)
(Actual Link removed here due to malicious nature of the link).

(Google Disk Drive is a file hosting service operated by Google, Inc.)


Transaction Number: 3Q5IRS367654547}

Payment Amount: $ 5051.63
Transaction status: Rejected

ACH Trace Number: 0000000000
Transaction Type: ACH Debit Payment-DDA

Internal Revenue Service
Metro Plex 1, 8401 Corporate Drive, Suite 300, Landover, MD 20785

*******************************************************************

The Internal Revenue Service does NOT send out any e-mail communications for payments, refunds, or filing corrections. Any such e-mail received should be considered as fraudulent. NEVER click on any links provided in a suspicious email. The Internal Revenue Service asks that all fraudulent or suspicious e-mails be forwarded to phishing@irs.gov.

Thursday, September 4, 2014

Endless Stream of Merchant Data Breach Cases - Card Changes

This week has delivered news of yet another large national merchant who has had customer card data stolen from them. Home Depot follows a long line of merchants who have clearly demonstrated the inability to protect card data being utilized in their establishments. At this point, financial institutions have very little faith in merchants protecting the data that they process. Huge fraud costs are being absorbed by the financial institutions because of these merchant data breach incidents. Litigation to recover losses typically results in pennies on the dollar for actual costs realized from the fraud that occurs following the data thefts.

To protect member assets the credit union will soon begin restricting daily VISA Debit Card activity to a maximum amount of $1,500.00 per day. Members will have an additional $500.00 per day available in cash from an ATM. These will be the default daily card limits on all VISA Debit Cards. In addition to these changes, a cap of no more than 5 transactions per hour will be in place. Again, these changes are necessary because the merchants have not shown the ability to protect card data being used in their businesses. As it stands now, card data is being stolen from the merchants and counterfeit cards are being produced and used to steal money from member accounts. If merchants were bearing the costs for these counterfeit transactions that would be a different story, but they are not. VISA liability rules have been protecting the merchants from responsibility over counterfeit card use.

If members know that they will have purchases that will exceed the $1,500.00 daily amount they can call or visit one of our offices to request a higher temporary purchase limit for a specified period.

We regret having to make these operational changes with regards to VISA Debit Cards. Consumers have grown very accustomed to using VISA Debit Cards like cash. Unfortunately the thieves have also grown fond of VISA Debit Cards. Since North Alabama Educators Credit Union is ultimately responsible for all unauthorized card activity, we had no choice but to take appropriate steps to reduce the card losses that affect the entire credit union membership.

These changes are scheduled to be fully in place by November 1, 2014 following notifications and educational communications to our membership.