News And Updates

NLCU is Celebrating Ding Free Day

Today, Newfoundland and Labrador Credit Union is celebrating national ding free® Day to help create awareness about the large network of surcharge-free ATMs available on our network across Canada.

NLCU members can save up to $4 per transaction by downloading the ding free ATM locator app, which helps them find thousands of ding free ATMs available to them, coast-to-coast – This network of ATMs is bigger than most banks!”

Through the ACCULINK® and EXCHANGE®  ATM networks Newfoundland and Labrador Credit Union members have access to over 4,500 ding free credit union ATMs across Canada.

Download an app to locate the nearest ding free ATM here or check online here, and look for the ding free ATM decals on participating ATMs. Learn more at ding-free.ca.


‘Locking Out Fraudsters' service brought to you by Central 1

As of April 12, 2018, MemberDirect Online Banking will have a new feature brought to you by Central 1 and NLCU that will begin locking online banking accounts in incidents where suspicious activity is detected.
 
The locks will only take place when Central 1 detects the digital fingerprint of a known criminal accessing an online banking account. Upon account locking, members will receive notification from NLCU that suspicious activity has been detected and will ensure appropriate security measures will take place. In addition to locking the account, Central 1 will block any e-Transfers sent on the account during the fraudulent login session.

If you have any concerns about this feature or the security of your NLCU account please give us a call, 1-800-563-3300.


New Home Purchase Program for New Home Buyers

The Provincial Government announced a new home purchase program that will make it easier for new home buyers to purchase their first home.The program has been introduced to take the place of the former Down Payment Assistance Program delivered by NLHC, placing greater focus on its goal to ensure home ownership is more accessible for first-time homebuyers

As part of Budget 2018, $1 million has been allocated for a new Home Purchase Program. The program will provide grants of $3,000 to individuals and families to go toward the down payment of newly constructed or existing new homes never sold or occupied that are valued under $400,000 including HST. The 330 grants provided in 2018-19 will be issued to the first home buyers who apply and qualify.

The program will be extended to March 31, 2019, and NLHC will accept applications for the First-time Homebuyers Program beginning April 1, 2018. Additional program information can be found at www.nlhc.nl.ca/programs/programsFhp.html



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 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

Wire Transfer Fraud Protection

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. 

 
 

 

 
 

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