25 May

Real-time fraud alerts for your safety and convenience

Real-Time Fraud Alerts for Your Safety and Convenience

Navigator Credit Union strives to make your debit and credit cards safe and secure. As part of our promise to protect your privacy, we offer free fraud text alerts giving you the ability to immediately respond to any suspicious activity detected on your account(s).

How does fraud alert messaging work?
Our Fraud Department monitors your card activity to identify transactions that may not be within your usual patterns. If we suspect a transaction may be fraud, we will mark that transaction for verification. Our Fraud Department will then text you with details of the transaction. That text will come from the Navigator Credit Union Fraud Department text number 37268.

Receiving a text does not mean the transaction in question is fraudulent, only that Navigator wants to make sure you made the charge. If you reply to the text that you recognize the transaction(s), your card will remain available for use.

If you reply to the text that you do not recognize the transaction(s), you will receive a text response asking you to call our Fraud Department at 877-253-8964 to report the fraudulent transaction(s). A block will be placed on your card to protect you from further fraudulent transactions until you call us.

If you do not reply to the text, a pre-recorded voice call may be attempted at your mobile device and the home phone number listed on your account.

If you receive a pre-recorded call, please listen to the prompts provided; you'll be asked to review and respond to the validity of each transaction that is presented during the call. To reply to the pre-recorded message left on your phone, please call the number provided in the message to tell us whether or not you recognize the transaction(s).

Members are encouraged to save the Navigator Fraud Department's text number, 37268, so you'll know it's Navigator sending you the message.

How much does it cost to use this service?
There is no fee to use the service. However, standard text message and data rates assessed by your mobile carrier do apply. Please check with your mobile carrier to ensure that you have text messaging enabled on your mobile phone plan.

Is this service safe and secure?
Yes. Navigator will never ask for your account number, personal identification or other personal information via a text message. If you ever receive a text message asking for your member number, account number or other personal information, please do not respond.

How do I register for SMS/Text Fraud Alerts?
Members with a valid mobile number on file are automatically registered for free fraud text alerts. Be sure to keep your phone number and address updated on your Navigator account so can be contacted in the event of suspicious activity.

Here are some more ways you can prevent becoming a victim of fraud:

Monitor transactions on your account with ease by utilizing Navigator’s digital banking services including our mobile app.
Be sure to set up e-Alerts to notify you instantly by text or email of select activity on your account.
Let Navigator know of any travel plans. We can make sure your credit and/or debit card are noted for out-of-town use.

Remember, if any fraudulent charges occur on your account, Navigator is here to help. You can visit any Branch or call our Member Contact Center at 800-344-3281 during regular business hours (Monday – Friday, 9 a.m. – 5 p.m.; Saturday, 9 a.m. – 1 p.m.) to dispute any charges.

25 May

Chicken and Black Bean Tostadas

by Linh Ha in Uncategorized

Chicken and Black Bean Tostadas with Avocado Cream

The toasted tortillas provide a crispy base for this delicious Mexican dinner with chicken, black beans and an avocado cream.

Servings: 4; Calories: 280 Per Serving; Protein; 17g Per Serving; Fiber: 9g Per Serving

Ingredients

For the Avocado Cream
1 small avocado, halved, pitted, and coarsely chopped
1/2 cup fat-free or low-fat sour cream
2 tablespoons cold water
1 tablespoon chopped fresh cilantro OR 1 teaspoon dried cilantro
1/2 teaspoon honey

For the Black Beans
1 15.5-ounce can no-salt-added black beans, rinsed and drained
1 tablespoon chopped fresh cilantro OR 1 teaspoon dried cilantro
1/2 teaspoon fresh lime juice
1/2 teaspoon canola or corn oil

For the Chicken Tostadas
1/2 cup fresh or frozen corn OR 1/2 cup no-salt-added canned corn, rinsed and drained
1 medium Roma tomato, diced
3 tablespoons diced red onion
1 small jalapeño, seeds and ribs discarded, diced
1 medium garlic clove, minced OR 3/4 teaspoon minced jarred garlic
Pepper to taste
4 6-inch corn tortillas
4 ounces shredded cooked skinless chicken breast, cooked without salt, all visible fat discarded
Handful fresh cilantro leaves, coarsely chopped

Directions

For the Avocado Cream
In a small bowl, stir together the avocado, sour cream, water, cilantro and honey. With the back of a spoon, mash the mixture until combined and creamy.

For the Black Beans
In a food processor or blender, process the beans, cilantro, lime juice and oil until smooth.

For the Chicken Tostadas
Preheat the oven to 350˚F.

In a small bowl, stir together the corn, tomato, onion, jalapeño, garlic and pepper.

Place the tortillas directly on the oven rack. Bake for 8 to 10 minutes, or until crisp. Transfer to a work surface.

Spread the bean mixture on the tortillas. Add the chicken. Spoon the tomato-corn salsa over the chicken. Top with a dollop of avocado cream. Sprinkle with the cilantro leaves.

Recipe courtesy of the American Heart Association.

25 May

Dealing with rising credit card debt

by Linh Ha in Uncategorized

Dealing with Rising Credit Card Debt

ENGLISH | EN ESPAÑOL

Households in the United States carry average revolving credit card debt of more than $6,000, and the number is steadily growing. The Federal Reserve Bank of New York says credit card debt increased by $52 billion in the last quarter of 2021 alone. Navigator Credit Union wants to help individuals achieve financial success, and for a lot of people that means finding affordable ways to dig out of credit card debt.

One way to tackle credit card debt is by taking advantage of a balance transfer offer. A balance transfer means moving all or part of the balance from one or more credit cards to another more affordable credit card. Navigator breaks down the benefits of taking advantage of a balance transfer offer.

Lower interest rate
If you’re carrying a high balance on a department or bank-issued credit card with a high-interest rate, look towards your credit union for a lower interest rate credit card. This means more of your monthly payment goes toward getting you out of debt. You may even be able to set up a lower monthly payment or one payment less than the combined payments for several higher interest cards.

Consolidate debt
If you have multiple monthly credit card payments, a balance transfer will help you consolidate balances to one card. Having one convenient monthly payment may enable you to focus on paying off your debt more effectively. If you’re looking to consolidate balances, make sure your new credit card has a high enough credit limit to handle all of your balance transfers.

Better terms
In addition to a higher interest rate, your current credit card or cards might have higher fees, shorter grace periods and other terms you just don’t like. Taking the time to find a credit card that truly fits your needs can pay off with better terms and other perks.

If you’re shopping for a credit card to transfer your balance to, there are some things to consider.

Interest rate beyond the promotional period. Even if you have plans to pay off the balance during the introductory period, be sure to review what your interest rate will be beyond that timeframe. Life happens and you don’t want to be stuck paying a higher interest rate than you previously were.
Balance transfer fees. Some cards charge a balance transfer fee. These fees can add hundreds of dollars to your debt.
Annual fees. Avoid cards that carry an annual fee. Your goal is to pay off high-interest debt, not add to it.
Look for rewards. Getting a card that gives you rewards such as points to redeem for products, cashback or discounts can be a great benefit and offer you additional savings.

Using a low-interest balance transfer to get rid of your high-interest consumer debt makes sense, and for a limited time, Navigator is offering an attractive balance transfer opportunity. Qualifying new and existing Navigator Platinum Rewards cardholders can take advantage of 1.99% APR on balance transfers for six months, plus there’s no balance transfer fees, no annual fee and no cash advance fees. Cardholders also earn unlimited uChoose Rewards® points, which they can redeem for thousands of items including cashback.

Prepare for the holiday season
Don’t let the next holiday shopping season and the urge to splurge with credit card purchases catch you off guard. Get ready early by setting up a Christmas Savings Account at Navigator. Its competitive rate together with regularly scheduled deposits can help you steadily build up your shopping fund. Then on November 1, we’ll automatically transfer the money to your savings account so you can celebrate the holidays without a worry - and without going into debt.

APR=Annual Percentage Rate. Membership and credit eligibility requirements apply. Cardholders pay a 1.99% APR for the first 6 billing cycles from balance transfer. After that, the APR will be 10.90% or 12.90% based on creditworthiness. Offer available Jan. 1 to June 30, 2022; subject to change without notice. See Visa agreement for uChoose Rewards^® terms and conditions. uChoose Rewards^® is a registered trademark of Fiserv Solutions, Inc. Visa® is a registered trademark of VISA Inc. Federally insured by NCUA.

25 May

RMDs Get a Small Reprieve

by Linh Ha in Uncategorized

RMDs Get a Small Reprieve

2022 brings new life expectancy tables.

NCU Wealth Management — Jeffrey C. Hamm
Vice President
Wealth Management

Provided by Jeffrey C. Hamm

For the first time in nearly 20 years, the IRS has released updated actuarial or life expectancy tables. Those who take required minimum withdrawals (RMD) from retirement accounts may already know we use these tables to calculate your RMD. Using these new tables is relatively simple, but here are some considerations to keep in mind.

What’s my RMD? We determine the required amount you must withdraw annually by dividing the previous year-end balance of your qualifying accounts by what the IRS calls a “life expectancy factor.” The newest tables assume we’ll live longer, which may impact the amount you need to withdraw.

What about inherited accounts? There are some exceptions, but you must generally withdraw all assets within ten years, regardless of your life expectancy. The Secure Act eliminated the ability to “stretch” your withdrawals across your lifetime if the original account owner passed away in 2020 or later.

While most RMD calculations are straightforward, the process can get more complicated if you have multiple accounts or other sources of retirement income. Before modifying your current strategy, consider reaching out to your financial or tax professional for help.

Jeff Hamm may be reached at 228-474-3427.

Learn more about NCU Wealth Management.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINR A /SIPC , a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

16 Dec

New Features Enhance the Member Calling Experience; Identifying Information Required

by Linh Ha in Financial Toolbox, News

Navigator has made changes to our phone system to enhance the Member experience. When calling our Member Service Center (800-344-3281), you’ll have additional options and be asked for identifying information to expedite assistance.

By providing your info while waiting for a Member Service Representative, you’ll be assisted more promptly when your call is answered. You’ll need to have the following in order to verify your identity:

Your 10-digit account number;
The last six digits of your social security number; and
The first three characters of your last name.

The benefits to this pre-verification process include hearing your account balance and your last five transactions while on hold. And if you request a callback, you now have the option to leave a detailed message explaining the reason for your call. Members can also set appointments for callbacks during our regular business hours and up to three days in the future.

In addition, we’ve added new security features. Each time you call the Member Contact Center, an email is sent alerting you someone accessed your account information. If you receive such an alert and did not call us to access your information, please let us know immediately.

Need help finding your account number?
There are several ways you can locate your account number. Log into Navigator Online Banking, select the account (share or loan) you want to find the full account number. Click the Details tab then it will be under the “Account Number” column. Account numbers are used for deposits and payments.

You can also find your account number at the bottom of your Navigator checks. There are thirteen digits between the routing number and the check number; your account number is the last 10 digits before the check number. The illustration below explains each set of numbers printed on your checks:

Routing Number: Navigator’s routing number is 265377950. Every credit union and bank has a unique nine-digit number used to identify the financial institution for monetary transactions. When using your account for making payments or when receiving funds, you can always find the routing number on a Navigator check or at www.navigatorcu.org.
3-Digit Prefix: your Checking Account number contains a three-digit prefix to use before your 10-digit account number. This prefix indicates you are using your Checking Account when paying bills by phone or online and to facilitate Automatic Clearinghouse (ACH) transactions (account transactions set up electronically or by phone, such as direct deposits, payroll deposits and vendor transactions.)
Account Number: your 10-digit account number is the number for your primary account and should be used for all transactions at a Branch. It’s the number you should have ready when calling our Member Service Center (800-344-3281) in order to verify your identity while on hold.
Check Number: this is used as a reference number to help you track any payment made by check.

Each time an account is opened, the new Member is provided a printed account information card with the printed 10-digit account number. You can request a new account information card by visiting any of our convenient Branch locations during regular business hours.

These new features are designed to help Navigator help you! With your identity already confirmed, our friendly Member Service Team Members can begin assisting you with the specific reason for your call without having to go through extended an identification verification procedure.

And while the process has changed, your call options remain the same; you can still dial an extension or select an option for your call to be transferred without waiting on hold. For example, choose option 3 for Lending or 5 for Mortgage Services.

Navigator’s Member Promise includes simplifying your life and also protecting your privacy. These new enhancements to our Call Center operations are more examples of the ways we’re delivering on our promises to you!

06 Oct

Anchor Lines

by Linh Ha in Uncategorized

27 Jul

The New Inherited IRA Rule

by Linh Ha in Financial Toolbox

Do you know what has changed for IRA beneficiaries?

Provided by Jeffrey C. Hamm

New inherited IRA rules took effect on January 1, 2020. The Setting Every Community Up for Retirement Enhancement (SECURE) Act became law on that day, altering the regulations on inherited Individual Retirement Account (IRA) distributions.

The big change: the introduction of the 10-year rule for beneficiaries. Most people who inherit an IRA now have to empty that IRA of assets within ten years of the original owner’s death. You can do this as you wish; you can withdraw the whole IRA balance at once, or take incremental distributions on the way to meeting the 10-year deadline.¹

Remember that tax rules constantly change. There is no guarantee that the tax treatment of Roth and Traditional IRAs will remain what it is now. This article is for informational purposes only. If you have inherited or expect to inherit a traditional or Roth IRA, be sure to consult a financial professional for real-world advice.

Are there exceptions to this rule? Yes. If the deceased IRA owner was your spouse, you can treat the inherited IRA like an IRA of your own. If it is a traditional IRA, you generally must take required minimum distributions (RMDs) from it once you reach age 72. The Internal Revenue Service (IRS) taxes those distributions as regular income, and if you take any distributions before age 59½, they may be subject to a 10% federal income tax penalty. If it is a Roth IRA, you aren’t required to take RMDs. (You may continue to contribute to a Traditional IRA past age 72 as long as you meet the earned-income requirement.)¹

Certain non-spousal IRA beneficiaries still have the chance to “stretch” inherited IRA distributions over their remaining lifetimes, using Internal Revenue Service formulas (a choice available to most IRA beneficiaries before 2020). You may choose this option if you are less than ten years younger than the original IRA owner. You can also elect to do this if you meet the SECURE Act’s definition of a “disabled” or “chronically ill” individual (you have a life-altering physical or mental impairment or require extended care).^1,2

Lastly, if a child inherits an IRA, they can take distributions based on the child’s life expectancy until the age of 18, at which point the aforementioned 10-year rule applies.¹

If you are a Roth IRA beneficiary, be aware of the 5-year rule pertaining to Roth IRAs. If you inherit a Roth IRA that is less than five years old at the time of the original owner’s death, any earnings taken from it will count as taxable income. If the Roth IRA is more than five years old, you can take tax-free distributions from the earnings. Assets representing the original owner’s Roth IRA contributions can become tax-free distributions regardless of when the original owner opened the Roth IRA¹

What’s the big takeaway from all this? Suppose you are relatively young and anticipate a large IRA inheritance, and that big IRA is a traditional IRA. In that case, you can anticipate greater income taxes during the 10-year window when you take those inherited IRA distributions.

By the way, the new rules do not apply to inherited IRAs whose initial owners died prior to 2020. If you are a beneficiary of such an IRA, then you may still attempt to “stretch” the inherited IRA assets according to IRS life expectancy formulas and take RMDs as required by the old rules.³

Jeff Hamm may be reached at 228-474-3427.

Learn more about NCU Wealth Management.

Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Citations

NerdWallet, November 25, 2020
FedWeek, March 3, 2020
Forbes, October 28, 2020

14 Jul

Understanding the Child Tax Credit Expansion

by Linh Ha in Financial Toolbox, News

Understanding the Child Tax Credit Expansion

The American Rescue Plan Act temporarily expanded the Child Tax Credit, or CTC, for the 2021 tax year. The IRS will pay half the total credit amount in advance monthly payments beginning in July. Those eligible for the credit can claim the other half when filing their 2021 income tax returns.

Navigator Members may have questions about what the Child Tax Credit expansion means for them. Here are answers to some frequently asked questions.

Will I receive advance CTC payments?

Navigator does not know who will receive advanced CTC payments or how much a Member will receive. The IRS will use your 2020 income tax return to determine if you are eligible and automatically enroll you for the advance payments.

Can I find out when I receive an advance CTC payment deposited to my Navigator account?

Members can see pending deposits on our free mobile app and/or be notified through e-Alerts.

When using the app, the pending deposit displays on the specific account to which the deposit will be posted. Using the mobile app to see pending deposits eliminates the need to call the Credit Union and avoids long hold times waiting for information that is right at your fingertips. It also allows you to see your available balance and displays any pending debits.

For more information on Navigator’s free mobile app, click here.

What if my advance CTC payment is set to deposit to a closed account or one with a negative balance?

If a Member’s advance CTC payment is deposited into a charged off checking account or any closed account, it will be sent back to the U.S. Treasury with the notation: account closed. If the share account designated for the deposit has been charged-off and the Member has another open share, Navigator will deposit the payment into the open share. If the account designated for the deposit has a negative balance, Navigator will apply the payment to the negative balance.

What do I need to do to get my advance CTC payments?

Most families will begin receiving monthly payments without any additional action. Eligible families will receive a payment of up to $300 per month for each child under age 6, and up to $250 per month for each child ages 6 to 17.

People who need to file a 2020 federal income tax return may be able to prepare and file their federal income tax online using IRS Free File if their income is $72,000 or less.

People who don’t need to file a 2020 federal tax return can also use the Non-filer Sign-up Tool to register to receive the advance CTC payments, the Third Round Economic Impact Payment, and the Recovery Rebate Credit.

Do I have to have direct deposit to receive the advanced CTC payments?

The IRS will use data already in its systems to send the advanced Child Tax Credit payments. Taxpayers with direct deposit information on file will receive the payment that way. Those without current direct deposit information on file will receive a check or debit card in the mail.

Can I opt-out of the advanced CTC payments?

You can unenroll from the advanced payments and claim the full, increased amount on your 2021 income tax return. You can unenroll at any time. For more information, click here.

How do I get more information?

There’s a great deal of information on the IRS’s website.

Beware of fraud

Navigator is warning you of potential scams. Remember, you do not have to do anything to receive the advance CTC payments. The IRS will not email, text, call or direct-message anyone as initial contact. You should delete those messages unread. Clicking a link or responding could connect you with a scammer or infect your phone or computer with a virus.

Here are some other things to do instead:

Don’t respond to any communication from the IRS other than snail mail, and be sure it’s genuine. Real IRS correspondence has a notice (CP) or letter (LTR) number on either the top or the bottom right corner.
If your check will be mailed to you, go to com and sign up for Informed Delivery, which emails you photos of your mail before it is delivered. It’s free. When your check is expected, pick up your mail as quickly as possible or have someone do it for you.
If you believe your check was stolen from your mailbox, the IRS can trace the check and replace the money.
If someone tries to scam you out of some of the money or offers “help” in getting it sooner, you can report it to the FTC at reportfraud@ftc.gov.

Remember, Navigator and the IRS will never ask for your personal information such as social security or account numbers.