Go Green Money Market Gets a Big Boost
- Created on Thursday, 11 February 2016 09:00
- Written by Lisa Sullivan
We have some exciting news to share!
One of Coastal's premier products, the Go Green Money Market account, has received a significant increase in the balance amount that can earn the premium tier. Effective now, if you keep up to $250,000 (an increase from $100,000) in your Go Green Money Market account, you can earn up to 1.01% APY*on the balance. The chart below breaks out the structure:
This is good news for members who may have more than $100,000 and want to earn a competitive rate without committing to a long term deposit.
It really is easy to earn the premium tier!
The Go Green Money Market is a great option for members who have more than $10,000 to deposit as well. As long as you are actively using your Go Green debit card to perform thirty (30 or more) transactions a month, you will continue to earn our premium tier in your money market account, all the way up to the maximum amount that is insured by NCUA.
For more information on the benefits of Go Green Money Market accounts, visit https://www.coastal24.com/savings/go-green-money-market.html.
*APY = Annual Percentage Yield. APY is variable, is subject to change without notice, and is accurate as of February 1, 2015. Fees may reduce earnings. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency. There is a limit of one Go Green Checking account and one Go Green Money Market account per Social Security Number.
Daymark Realty Embraces New Tech to Protect Clients
- Created on Wednesday, 03 February 2016 09:00
- Written by Louis Guillama
Triangle-based Daymark Realty is leading the way in adoption of a new smart lockbox technology designed to reduce their residential real estate clients' risk and provide agents with greater control over who can access a property.
Traditional lockboxes are mechanically operated by turning dials or a knob, similar to a high school locker, and contain no intelligence, software or memory. Once the code is handed out, it easily can be shared, lost or mishandled, thereby placing the occupants of the home, or the home itself, at risk for an unexpected visit. In some cases, agents have been known to return without first getting approval; and this can happen without anyone's knowledge.
The new electronic lockbox (far right in image above) is not much larger than a conventional one, but introduces an assortment of technology to this pivotal real estate tool. The device is equipped with a 5-yr battery encased in a hardened steel shell. It can be accessed via Bluetooth using an authorized agent's smartphone, yet still provides a manual keypad for entry. While the new lockbox allows an agent to manually enter a code for access, this method requires the presence of an encrypted smart-chip encoded card, using similar technology being deployed by credit card companies; either access method positively identifies the user. As an additional security measure, the manual card and smartphone app cannot be activated at the same time, reducing unintended use. Regardless of method, a memory chip retains the time, date and user for each request.
"This new lockbox is a leap in technology that introduces many new features and control capabilities," says Louis Guillama, Director of Real Estate Operations at Daymark Realty. "Every agent in the Triangle MLS system has been trained on how to use the new lockbox, so there's no reason not to use it. The enhancement in management and visibility is simply unprecedented. I can view the status of every lockbox from my desk using a secure portal. Not only can our clients control when someone can access their device, but we can both be notified by text message each and every time the device is opened. It's impressive!"
Adoption of the new lockboxes is voluntary and there are no plans to make their use mandatory across the region. However, despite the additional cost, Daymark Realty decided to fully adopt the new devices. Guillama added, "It's a decision left to every firm. Our clients' safety and peace of mind can't be weighed against a nominal cost. It's just one more way that we differentiate our client focus."
Daymark Realty is a wholly-owned subsidiary of Coastal Federal Credit Union and has been serving Triangle customers since 2007.
Coastal Visa Credit and Debit Cards Now Work with Visa Checkout
- Created on Tuesday, 02 February 2016 09:00
- Written by Lisa Sullivan
These days data security is a hot topic. Perform a Google search for the term "data breaches" and you will find over 9 million results! Protecting the security of our members' data is of utmost importance to us.
Last summer, Coastal took part in the national "Stop Data Breaches" campaign while preparing to roll out the latest in secure technology - new chip-enhanced debit cards and launching Apple Pay™. We spoke about all of these initiatives in Coastal President, Chuck Purvis' "Letter from the President" back in July.
Great news! There is now another method by which to securely perform your banking transactions, specifically online – Visa Checkout ...and all of Coastal's debit and credit cards already work with it.
Visa Checkout is Visa's tokenized payment system (similar to PayPal). As a Coastal member, all you have to do is register for an account with VISA Checkout and add any or all of your Coastal Visa debit or credit cards to it. Then, any time you perform a transaction with any of the more than 100,000 online merchants offering VISA Checkout, you simply use that as your payment option. Since Visa handles the payment information, your order is processed immediately.
Better Fraud Protection Means Enhanced Data Security
In addition to this service providing a quicker, smoother online shopping experience for you, the truly revolutionary aspect of this program is the fraud prevention. Visa Checkout is a tokenized digital wallet, which means that your data is entered once, with Visa. Then, when you select this payment method at a participating online retailer, a unique, one-time code is provided instead of your card information. If that online vendor is then compromised, fraudsters will only get your tokenized information. Because this tokenized information is only a one-time code, no fraud can be committed.
In summary, Visa Checkout can:
- Provide a quick, seamless online shopping experience by limiting the need to continually re-enter debit and credit card data at check out.
- Limit the number of places your card information is stored online, thus significantly limiting opportunities for members’ cards to be compromised
Our members have asked us to offer a more secure method to perform online transactions. This is one solution provided and operated by Visa.
Visit VisaCheckout.com to learn more, and to register your Coastal Visa credit and/or debit cards today.
Coastal Federal Credit Union Rewards Members with $2.3 Million Payday
- Created on Tuesday, 26 January 2016 06:00
- Written by Lisa Sullivan
This morning, Coastal Federal Credit Union issued nearly $2,300,000 in special dividends, earned by members through its VIP Program. The Loan Rebate and Deposit Bonus Dividends were shared among 24,400 members, nearly triple last year's total. In addition, more than 3,500 members received both payouts.
This year’s payout was the largest in the five year history of the program, both in dollars and in the number of members who benefited. To date, Coastal has issued more than $9.4 million in VIP dividends.
While today’s $2.3 million dividend payout is sizable, the credit union is also able to quantify an additional $16 million in member benefits throughout the year. Along with such benefits as reduced or forgiven fees, two of Coastal's highest yielding and member savings benefits in 2015 were derived from Coastal's Go Green checking and money market products as well as savings received by mortgage refinancing.
“As a cooperative, member giveback is as valuable to us as it is to our members,” said Chuck Purvis, Coastal’s President and CEO. “Our growth and success stems from those members who actively participate in the credit union, choosing our products or enlisting our services. Giving back in various forms throughout the year, including this annual dividend, demonstrates our commitment to share even more with our membership.”
The VIP program was designed to reward members who have their primary checking account at Coastal. Members qualified as VIPs by performing 144 withdrawals from their Coastal checking accounts during 2015. VIP members then had the opportunity to earn Loan Rebate Dividends and Deposit Bonus. Loan Rebates were based on interest paid during 2015, while Deposit Bonuses were determined by average balances.