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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.

Intuit is offering NLCU Members 20% off TurboTax Online


TurboTax translates taxes into simple questions about your life, so you don’t need tax knowledge – or an appointment – to get your taxes done right.

• Get your maximum refund. TurboTax searches over 400 deductions and credits to make sure you get your biggest possible refund, guaranteed.
• Be sure nothing gets missed. TurboTax reviews every detail in your return, walks you through any final changes, and gives you the green light to file.  
• Get a jumpstart. With Auto-Fill My Return, TurboTax allows you to download your 2016 Tax Slips directly from the CRA and automatically fills them into the right forms.

NLCU members can save 20% on TurboTax products.  Start for free today!

Limited time offer for TurboTax 2016. Terms, conditions, features, availability, pricing, fees, service and support options subject to change without notice.  Intuit, TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in Canada and other countries. Other parties' trademarks or service marks are the property of their respective owners. Visit  http://turbotax.intuit.ca/tax-software/guarantees.jsp for TurboTax product guarantees. Must be signed up for CRA’s My Account service to import into TurboTax. To register visit, www.cra.gc.ca

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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