A local credit union is offering members a new tool to help them monitor their bank accounts and combat fraud.
Northeast Community Credit Union is now offering a new smartphone app called “Card Valet” which gives members a variety of ways to monitor their accounts and control spending.
“You can get a notification any time your card is swiped, where it’s swiped and how much it was swiped for,” said Kelly Roberts, Marketing Manager for NCCU. “Any time your card is used, whether it’s online or swiped in person, it will let you know.”
“It is something that is going to help our members, especially with preventing fraud,” she added.
With Card Valet, members can turn their debit cards off and on as needed.
“If they get a notification their card was swiped, and it’s not a purchase they made they can use the app to turn their card off and stop it from going further,” Roberts said. The member can then begin the fraud notification process as usual with the assurance that no more fraudulent charges will be made to their account.
The app also provides members with the ability to set spending limits, check their account balances, and even select what types of merchants the card can be used at.
According to Roberts, members can even set up restrictions based on different types of merchants. For example, she said, if a member wanted to restrict how much money was spent at fast food restaurants that is something they could do using this app.
The app even allows members who have children with accounts to set up specific restrictions on their children’s activity.
“If your kid is spending too much money you can turn their card off,” Roberts said. “If there is somewhere you don’t want them spending money you can set that up.”
This type of smartphone app is a new way to help members better manage their banking.
“It’s really available to major credit card companies, but I’ve not heard of any of the smaller banks or credit unions offering it,” Roberts said. “It’s something different that we offer to our members.”
And, best of all, there is no cost to members.
“It’s a free service,” Roberts said. “It’s a separate app from our regular app, but all of our members have access to it for free.”
For more information on the Card Valet app or other information regarding accounts with Northeast Community Credit Union, contact the credit union at 423-547-1200 or check them out online at www.bemycu.org.