What's New

International Credit Union Day is Thursday, October 19th

It’s that time of year – International Credit Union Day is taking place October 19, 2017
Credit Unions and their members around the world celebrate International Credit Union Day, an annual event to commemorate the credit union movement’s impact and achievements globally, nationally and in local communities.

Credit Union Day is special to NLCU this year, as we are celebrating our 60th year providing financial services in this province. As a way to celebrate, employees of NLCU have been performing ‘60 Acts of Kindness’ in our province as a way to celebrate with our communities, and give back where we live and work.

While most of our Acts of Kindness are being completed by individual teams, this October 19, all of our locations are participating in a credit union-wide Act of Kindness as a way to celebrate International Credit Union Day. On that day, all 12 NLCU branches across the province will be hosting Coffee Break, a national fundraiser in support of programs offered by local Alzheimer Societies. People can drop into our branches that day to enjoy a cup of coffee and treats, and leave a monetary donation for the Alzheimer Society.

Come on out to your local branch to celebrate with us.

Website is Under Construction

NLCU will be making changes to Website pages to increase user functionality. One of NLCU’s main priorities is to ensure all information we provide to our members is relevant, up to date, and has the highest quality of user functionality.

Website updates will not involve any changes to the website’s general layout, aesthetics, and security. Although changes will be happening on an on-going basis, it will never disrupt service on the site.

If ever you find any issues with the website please contact us at 1-800-563-3300 or email@nlcu.com


Lock'N'Block - New Service Brought to you by MemberDirect

Lock’N’Block is an integrated service offered by Everlink through MemberDirect and our mobile banking app.
If you suspect your card has been lost or stolen, all you have to do is log in to your account, click the Lock’N’Block icon, select your card, select from one of the four lock or block options, and toggle to either ‘ON’ or ‘OFF’ – it’s that easy!

- Available through the credit union mobile banking app, mobile web and online banking
- The only card-locking service of its kind in Canada
- Includes all open debit cards on the member record (maximum of 9)
- Allows member to identify each debit card with a nickname
- Convenient, quick and user friendly

New Mastercard PayPass limit is set to $100 CDN Per Purchase

Effective August 7, 2017, all purchase transactions paid for using the PayPass functionality on your CUETS Financial Mastercard credit card will be limited to CDN $100 (down from the previous CDN $230 limit) except in the case of purchase transactions completed at fuel pumps (including car washes) will remain at a limit of CDN $230 per transaction. 

Notice: While the maximum amount per PayPass transaction will be reduced to CDN $100, cardholders can complete transactions for amounts that exceed the PayPass limit simply by inserting their credit card into the PIN pad and entering their PIN. 

What is Mastercard PayPass?
Mastercard PayPass is a contactless payment technology that provides your members with a simpler way to pay by tapping a PayPass-enabled payment card on a special reader, rather than swiping it. It's a quick, convenient and secure way for you to make purchases. 

What's New at Newfoundland and Labrador Credit Union (NLCU)

The Fast Track 5% Cash Back Mortgage

Take heart - with 5% Cash Back on any mortgage, your house can become a home very quickly. It’s your cash to do with as you please, so add some bling to any room in the house. You can even take care of some expenses you’ve accumulated along the way. It’s up to you. The FastTrack 5% CASHBACK Mortgage gets you the home you want and the things you need.

Come into one of our branches today. We’ll show you how a new home earns you cash right now.

16th Annual Rod Benson Memorial Golf Tournament

On Wednesday, August 30, 2017, Newfoundland and Labrador Credit Union Charitable Foundation Corporation will hold the 16th Annual Rod Benson Memorial Golf Tournament at Clovelly Golf Course in St. John’s. Over the last 15 years, over $500,000 has been raised by the tournament and all funds have been donated to provincial charities.

With the help of our major sponsors, Newfoundland and Labrador Credit Union, RONA, CDL Holdings Limited, NEI Investments, the Co-operators, and E.C. Boone, we expect this year’s tournament to be another tremendous success.

Eco-Friendly Vehicle Loan Rebate

Do you want to help out the environment and put some extra money in your pocket?  If you do, we recommend you try our Eco-Friendly Vehicle Loan.  With an Eco-Friendly Vehicle Loan you get flexible payment options, great rates and valuable life and disability insurances.  Here’s the best part – we will pay you to do it!  When you get an Eco-Friendly Vehicle Loan from NLCU you will receive a 3%* cash back rebate at the time of the agreement.  Just think – a new or used vehicle, cash in your pocket and the road in front of you.  

*OAC, some restrictions apply, and rebate on value of loan only includes vehicle price and not additional insurances or other products financed in the loan.

Communicate Using Email

NLCU offers a convenient and environmentally friendly way of communicating with you through email. If you would prefer to communicate electronically, please forward your email address to email@nlcu.com and we will update your contact information.

For details on any of the above notices please call 1-800-563-3300, visit www.nlcu.com or visit one of our 12 locations province-wide.

NLCU's 5th Annual Calendar Contest

Newfoundland and Labrador Credit Union is very excited to announce its 5th Annual Calendar Contest. 
Grab your camera and your artistic eye – NLCU is on the hunt for scenic photos of our beautiful province for the 2018 NLCU Calendar!

NLCU is now accepting submissions for our annual Calendar Contest! We are asking anyone over the age of 18 to submit your best, high-resolution, unaltered scenic photos of Newfoundland and Labrador. 
Send photos to contests@nlcu.com on or before Friday, July 28th, 2017. Please include your full name and location where picture was taken. 

The top 24 photo submissions will be posted on our Facebook page for the community to vote on. The 13 photos with the most ‘likes’ will be chosen for NLCU's 2018 calendar. Don't forget to tell all your friends and family about this awesome contest!

See full rules and regulations for more information 

NLCU Share Account Notice

As of June 1st, all transactions completed using an NLCU Share Account will be subject to our standard service charges. For more information please contact your branch.

SCAM ALERT: Fraudsters are using automated phone calls to try and gain personal information

Fraudsters are using automated phone calls to try and get your personal information! If you've been receiving automated calls during the day claiming to be from your credit union and requesting that you verify personal information, DON'T RESPOND!

Your financial institution will never contact you in this manner to request personal information. In fact, you should NEVER give out your personal information over the phone, internet or to anyone you do not know and trust!

When in doubt, contact your financial institution directly using a known number and inform them of the situation.

NLCU is Implementing Interac Flash MemberCards

Interac has responded to the needs of its cardholders by introducing Interac Flash, a fast, secure and convenient way to make those daily transactions!

Your Interac Flash debit card operates the same as your old debit card except it adds the Flash payment option. Flash allows the cardholder to make purchases under $100 simply by holding their card within four centimeters of the point-of-sale terminal. Interac Flash transactions offer the same secure chip technology as regular chip-and-pin cards but also include additional security features to protect Flash transactions.

Flash transactions are itemized on monthly statements and on online and mobile banking profiles in the same manner as any other transaction. There are no additional fees associated with Interac Flash transactions.

Interac Flash transactions have a $200 cumulative limit, meaning that only $200 total can be spent across all Flash transactions before the terminal will prompt the cardholder to enter their PIN. Your Flash card is also protected by Interac’s Zero Liability Policy, which insures the cardholder against any unauthorized use of their Flash card.

Interac Flash is an optional feature designed for your convenience. Your Flash card can still be used for chip-and-PIN transactions if you do not want to take advantage of the Flash feature.
For more information - click here

What's New at NLCU

From all of us here at Newfoundland and Labrador Credit Union we extend our warmest wishes to all of our members and their families for a safe and joyous holiday season.
Your World, Your Way!

The GLOBAL PAYMENTTM MasterCard® is a unique card available to members of NLCU. When you use your GLOBAL PAYMENTTM MasterCard the funds are automatically moved from your credit union account to pay off the balance after the transaction is completed. The GLOBAL PAYMENTTM MasterCard is accepted worldwide and can be used anywhere MasterCard is accepted including online and accessing cash at an ATM.
Looking to Give Back?

Are you looking for a way to give back to the community? In 2002, NLCU established the NLCU Charitable Foundation Corporation, a registered charity that raises funds for charitable organizations throughout Newfoundland and Labrador. Since its inception, the Foundation has raised almost one million dollars for charities throughout Newfoundland and Labrador with over 100 charities benefiting last year alone. Anyone interested in donating to the NLCU Charitable Foundation Corporation can contact 1-800-563-3300 between 9 a.m. – 5 p.m., Monday to Friday or visit www.nlcucfc.com and click on Donate Now button.

Heading Back to School in the New Year?

Are you or someone you know attending college or university? Newfoundland and Labrador Credit Union is here to assist with your plans. Financing your education, whether it’s for university or college, is easier when you have funding options.

A loan or line of credit* from NLCU is an affordable way to make continuing education possible.  While in school, you pay only the interest on your loan or line of credit and our student lending products are available to full or part-time students.

If you are not in the market for a student lending product - check out NLCU's Student Super Saver Account. No fees on any transactions. Full time1 students2 can make as many transactions as they like for free. Transfers into your account – FREE. ATM withdrawals – FREE. EMT's – FREE. Bill payments – FREE.

It’s the best student offer in the market. So Students can spend more time studying for their classes and less time studying their banking statements, because it’s all free.

For details on any of the above notices please call 1-800-563-3300, visit www.nlcu.com or one of our 12 locations province-wide.

*A co-signer may be required.  Loan subject to credit approval.
TMAuthorized user of the mark
1 As classified by your post-secondary institution.
2 Students over 19 years of age will be required to show proof of enrolment.

International Credit Union Day took place October 20th

On October 20, 2016, credit unions around the world celebrated the credit union system’s history and achievements. Since 1948, International Credit Union Day has been acknowledged annually on the third Thursday of October. This year’s theme, “The Authentic Difference,” celebrates all the great things that make credit unions unique.

“Here at Newfoundland and Labrador Credit Union (NLCU), we take pride in providing the best customer service to our members, to help them achieve their financial goals” says NLCU’s CEO, Allison Chaytor-Loveys. “This year’s International Credit Union Day gives us the opportunity to promote the values of the credit union system, including exceptional service, open membership and the democratic election of Board of Directors.”

There are more than 217 million credit union members worldwide across 109 countries and 57,000 credit unions. NLCU is proud to serve over 20,000 residents in the province, making them the largest credit union in Newfoundland and Labrador.

“NLCU is especially proud of the NLCU Charitable Foundation (NLCU CFC), as it truly encompasses one of the core principles of the credit union system: social responsibility,” says Ms. Chaytor-Loveys. “The Foundation was created in 2002, and since then has supported over 100 provincial charities, donating over $1 million to help implement programs and services for communities that need a helping hand.”
Prime Minister Trudeau has written a letter recognizing ICU Day and all of Canada's credit unions and caisse populaires. You can read it here

NOTICE: As Mandated by Interac Direct Payment Regulations

Beginning October 1st, 2016, all Interac ATM of Point-of-Sale Transactions Can Only Be Performed With Chip-Enabled Interac Cards
Any transactions attempted using a card's magnetic stripe will be automatically declined. 

This means you will be unable to use swipe for any debit or credit card transactions that you perform in Canada. In compliance with Interac's new regulations, inserting your chip and entering your PIN or using your card's 'tap' feature will be your only transaction options.

Wire Transfer Fraud Prevention

The threat of wire transfer fraud is always prevalent; however these losses can be prevented easily, following some simple risk control procedures.

Wire Transfer Fraud Scheme:

The typical scheme is a member’s email account is compromised by criminals. The criminal sends an email request to the credit union requesting a wire transfer, usually a foreign country. Often social engineering is used to counter the risk of control processes that may be in place. When the wire transfer is issued, and upon review of the account statements, the member identifies the unauthorized transactions. By this time it is usually too late to fully recover the funds.

Please be advised that any email requests for wire transfers need to be confirmed by member by telephone confirmation (with further identification questions). Email wire transfer request that have not been confirmed by the member will not be processed.

If wire transfer is over $10,000 the member sending money and person receiving transfer may have to be confirmed (by telephone) before transfer is sent.
Please feel free to reach out to NLCU if you have any questions or concerms. Any time someone approaches you unsolicited about sending or receiving a wire, be cautious please contact your NLCU branch to ensure a money transfers validity. 

NLCU will be Offering NLHC Down Payment Assistance Program

Newfoundland and Labrador Housing (NLHC) recently announced a new Down Payment Assistance Program (DAP).

As this program will be a great way to assist our members with their first home purchase, NLCU will be offering this program to our members as well.

The below information was sourced from: http://www.nlhc.nf.ca.programs /programsDAP.html

Who is eligible?
•    Applicants must be first-time homebuyers from any region of the province who meet the DAP requirements and all other criteria for approval from a financial institution.
•    The program will assist approximately 100-125 applicants annually.
•    The program will provide eligible households a repayable loan of up to five percent of the purchase price of a new or existing home, to a maximum purchase price of $250,000 (St. John’s [Census Metro Area] and Labrador; $200,000 in regional centres (Clarenville, Gander, Grand Falls-Windsor, Corner Brook and Stephenville and all communities within a 30 km radius); $175,000 (in the remainder of the Province [Rural]).
•    The amount of the loan will be based on a sliding scale that takes into consideration the applicant’s household income level and the cost of the home being purchased.
What are the income limits?
•    Applicants must have a total household income of less than $65,000 to qualify for the full loan.
•    Total household incomes up to $75,000 are also eligible based on a sliding scale of assistance.
How much Down Payment Assistance can you receive?
•    Loan amounts are based on the maximum 5% of purchase price and are subject to maximum purchase prices established by the program
What are the Down Payment Assistance Program interest rates?
•    Interest rates will vary, depending on when the client decides to start repaying the down payment loan; however, it will not exceed the prime lending rate minus one percent.
Can I select my own lender?
•    Yes, as long as the lender is an accredited lender with competitive mortgage interest rates, and is willing to accept the down payment loan as an eligible down payment source.
Further details on the program can be found at http://www.nlhc.nf.ca.programs /programsDAP.html


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