16 Dec

New Features Enhance the Member Calling Experience; Identifying Information Required

New Features Enhance the Member Calling Experience; Identifying Information Required

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:

Anatomy of a check graphic

  1. 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.
  2. 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.)
  3. 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.
  4. 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!

14 Jul

Understanding the Child Tax Credit Expansion

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.

 

12 May

Pullbacks, Corrections and Bear Markets

Pullbacks, Corrections and Bear Markets

What’s the difference? What do these terms mean for you?

Provided by Jeffrey C. Hamm

The COVID-19 outbreak has put tremendous pressure on stock prices, prompting some investors to blindly and indiscriminately sell positions at a time when the entire market is trending lower. Worried investors believe “this time it’s different.” When the market drops, some investors lose perspective that downtrends – and uptrends – are part of the investing cycle. When stock prices break lower, it’s a good time to review common terms that are used to describe the market’s downward momentum.1,2

Pullbacks.

A pullback represents the mildest form of a selloff in the markets. You might hear an investor or trader refer to a dip of 5% to 10% after a peak as a “pullback.”1

Corrections.

The next degree in severity is a “correction.” If a market or markets retreats 10% to 20% after a peak, you’re in correction territory. At this point, you’re likely on guard for the next tier.1

Bear Market.

In a bear market, the decline is 20% or more since the last peak.1

All this is normal.

Pullbacks, corrections and bear markets are a part of the investing cycle. When stock prices are trending lower, some investors can second-guess their risk tolerance. But periods of market volatility can be the worst time to consider portfolio decisions.

Pullbacks and corrections are relatively common and represent something that any investor may see in their financial life, from time to time – often, several times over the course of a decade. Bear markets are much rarer. What we are experiencing now represents the start of the ninth bear market since 1926. This bear market follows the longest bull market on record.1

How is this bear market going to affect me?

That’s a good question, but it’s something that you won’t fully understand in the here and now. The average bear market lasts 146 days for the Standard & Poor’s 500.2

A retirement strategy, formed with the help of a trusted financial professional, has market volatility factored in. As you continue your relationship with that professional, they will also be at your side to make any adjustments as needed and help you make any necessary decisions along the way. Their goal is to help you pursue your goals.

Jeff 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 FINRA/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.

Citations

  1. kiplinger.com/slideshow/investing/T018-S001-25-dividend-stocks-analysts-love-the-most-2019/index.html [3/10/20]
  2. marketwatch.com/story/the-dow-just-tumbled-into-a-bear-market-ending-the-longest-bull-market-run-in-historyheres-how-those-downturns-last-on-average-2020-03-11 [3/14/2020]
08 Jul

Getting your vehicle road trip ready

Summer is here, and many people are looking forward to getting away. Wherever you are headed, Navigator Credit Union wants to help you get there safely.

A routine vehicle inspection is one step that can save a lot of unwanted stress down the road. The Mississippi Department of Transportation has some advice on what you can do to make sure your vehicle is vacation ready.

  • Check tires for tread wear and proper pressure
  • Check your battery
  • Make sure belts and hoses are in good shape
  • Replace your windshield wiper blades
  • Check all brake and head lights
  • Make sure your air conditioning is ready for the heat

Fluid levels, such as oil, brake, transmission, windshield, coolant and power steering, should also be inspected before hitting the road.

When traveling, it’s a good idea to keep an emergency kit on hand. The kit includes basic repair tools, jumper cables, first aid supplies, a flashlight and duct tape. Also, do not forget a spare car key, kept in a safe space.

These quick and easy steps can help you relax even more knowing your car has been prepped for this year’s road trip.

06 Jun

Navigator celebrates 80th Anniversary

Ingalls Employee Credit Union

Navigator Credit Union is celebrating eight decades of serving the Gulf Coast, and this month the celebration centers around a special day in June. It was June 24, 1939, when seven shipyard workers met and planned to form a credit union to offer co-workers opportunities for saving and for loans. Today, Navigator is Mississippi’s largest state-chartered credit union.

The Mutual Benefit Credit Union was the name chosen by the Ingalls Shipbuilding employees who were the founders and first members. The name was soon changed to Ingalls Employees Credit Union, and decades of growth and expansion of services followed. In 2003, the name Navigator Credit Union was chosen by its members to reflect the broader membership base their Credit Union had grown to serve.

Today, the full-service financial institution has 8 full-service Branches in Mississippi and 5 full-service Branches in Alabama. The Credit Union offers innovative financial services such as Save’N Up Debit Card Savings Program and Credit Builder Loans, as well as interest-bearing checking accounts, high yield savings plans, unlimited rewards credit cards, mortgage services, competitive vehicle loans, retirement planning and more.

A painting commissioned to commemorate Navigator’s 80 years, as “your family’s financial navigator” was unveiled at Navigator’s 80th Annual Shareholders’ Meeting in March and is being featured in anniversary festivities throughout the year. The painting, by a Jackson County (MS) artist, illustrates the unique communities the Credit Union serves. Daphne’s mossy oaks and piers; Mobile’s Middle Bay Lighthouse and historic homes; Pascagoula’s Round Island Lighthouse, bayou fishing camps, pine savannas and forests of Gautier, Hurley and Vancleave; Ocean Springs’ downtown marquee and the Port of Gulfport’s anchor are depicted. The state flowers of Mississippi and Alabama, the magnolia and camellia, are featured, and the Credit Union’s founding sponsor Ingalls Shipbuilding is at its center.

Please join Navigator Monday, June 24, 2019, from 9 a.m. to 5 p.m. at any Branch for a special “Birthday Party” celebration. Members will enjoy light refreshments and commemorative party favors while supplies last. You can find the Branch closest to you by clicking here.

A lot has changed since that muggy day along the east bank of the Pascagoula River, yet the belief “People Mean More than Money” is still fundamental to today’s Navigator Credit Union. Navigator continues to be a member-owned, not-for-profit financial institution working in the best interest of its Members.

13 Feb

Free Community Shred Day

Navigator Credit Union is committed to protecting your privacy. In keeping with our promise, we’re partnering with the Mississippi Attorney General’s Office for a free community shred day. But how do you know what to shred and what to keep? Navigator has your guide to how long you should keep certain documents.

Save forever
Keep documents related to major life events – birth, marriage, divorce and death. Lock securely:

  • Birth certificates or adoption papers
  • Social Security Cards
  • Citizenship papers or passports
  • Marriage or divorce decrees
  • Death certificates of family members

Also, keep auto titles and home deeds stored safety for as long as you own the property.

Tax records
Keep tax-related records for seven years. While IRS has three years to audit you, it has up to seven years under certain circumstances. A seven-year window should cover you in either event. The Federal Trade Commission suggests keeping tax returns forever.

Home improvement receipts
Keep these receipts until you sell our home, since certain expenses may reduce your capital gains tax.

Other records
According to the FTC, you can shred many other documents sooner than seven years. After paying credit card or utility bills, shred them immediately. Also shred sales receipts, unless related to warranties, taxes or insurance. After one year, shred bank statements, pay stubs and medical bills (unless you have an unresolved insurance dispute or these documents should be kept as tax records).

Free community shred day
The free shred event is set for Saturday, March 9, 2019 at Walmart located at 3615 Sangani Blvd., D’Iberville, Miss. It will be from 8 a.m. until noon or when the truck is full. Community members may bring up to three bags or boxes of documents to be shredded. It is on a first-come, first serve basis. The free shred day is not open to businesses.

Free shred day set for March 9, 2019 at Walmart in D'Iberville, Miss

19 Sep

Credit Card Update

Click Here to View Your Visa Credit Card Account Information Online!

Click Here for Additional Info!

Navigator Credit Union is excited to announce a new and enhanced Visa Credit Card program coming in August, 2016.  Navigator’s new Visa Credit Card features heightened security with an EMV chip, online account access, credit card design options, and electronic statement availability. Please continue reading to familiarize yourself with the changes coming to your Visa account as well as the many features and benefits of your new credit card.

Visa Credit Card Features:

  • EMV Chip Technology: Your new credit card will have an embedded microprocessor chip that stores and protects your data which increases security and reduces fraud. The EMV chip will be in addition to the standard magnetic strip located on the back of every credit card.
  • 24/7 Cardholder Service: Call 844-700-0990 for balance inquiries, payment information, transaction history, statement requests, or to dispute a charge.
  • Online Access: View transaction history, pending activity and other account information in real-time from your computer or mobile device. Plus, sign up for customizable email alerts and electronic statements to help monitor your Visa Credit Card account.  Visit https://navigatorcu.org for online access.

Important Reminders:

  • Your new credit card will be mailed August 15, 2016. Please allow 7-10 business days for delivery.
  • A credit card will be mailed to each cardholder on the account with a new card number and expiration date.
  • Secondary cardholders will have a unique card number, CVV number and expiration date for enhanced security.
  • Your new Visa Credit Card can be used at any ATM using a Personal Identification Number (or PIN.)  A unique PIN can be established during the activation of the card or by calling 24/7 Cardholder Service at 844-700-0990.
  • Automatic payments made with your current credit card must be reestablished to avoid any interruption in payment.  Contact each vendor receiving automatic payments to inform them of your new card number and expiration date.
  • Please refer to a list of frequently asked questions included with this letter. Additional inquiries BEFORE August 29 may call Navigator at 800-344-3281.  All inquiries AFTER August 29 may call the 24/7 Cardholder Service department at 844-700-0990.

New uChoose Rewards® Program:

Beginning August 30, 2016, you will have access to a new rewards program for your Navigator Visa Credit Card. uChoose Rewards® will allow you to redeem points on your credit card purchases for use towards shopping, travel, event tickets, gift cards and more. Important information about the transition of the rewards program includes:

  • ScoreCard® Rewards will no longer be earned after August 15, 2016.
  • ScoreCard® Rewards will be credited to you.
  • Your NEW credit card will begin earning uChoose Rewards® points on August 30, 2016.
  • To register your card or to monitor and redeem your uChoose Rewards® points, visit www.uchooserewards.com.

We’re proud of our new credit card features and excited to make them available to you. As always, you can count on Navigator Credit Union to remain committed to great service.

Sincerely,
Josh Duncan, Chief Lending Officer

 

FREQUENTLY ASKED QUESTIONS

Why am I receiving a new credit card?

Navigator Credit Union is changing the credit card processor to better serve your credit card needs. This change requires that a new card be issued.

Will my interest rate change as part of this conversion and card issue?

No. Your interest rate and other terms on your account will not change.

Will I have a new PIN number so I can access cash from my credit card?

You will no longer receive a PIN in the mail, and your old PIN will not work with the new card. You can select your unique PIN by calling the number on the activation label and choosing the PIN option.

My existing card does not expire for quite a while; can I continue using my existing card until expiration?

No. Your existing card will not work after August 29, 2016 at 6:45 a.m. EDT. Instructions will come with your new card to ensure it is ready to use on or after August 29, 2016 at 6:45 a.m. EDT.

What is EMV?

EMV stands for Europay, Mastercard® and Visa®. EMV chip technology is becoming the global standard for credit card and debit card payments. This smart chip technology features credit cards with embedded microprocessor chips that store and protect cardholder data. This standard has many names worldwide and may also be referred to as: “chip and signature.”

Will all merchants be able to accept my EMV (chip) credit card?

Yes. Your card will be accepted at all merchant locations.  You will insert your new EMV card into the bottom of the chip enabled terminal and follow the instructions.  For merchants that are not yet Chip enabled, you can swipe your card just like you do now to complete the transaction.

My spouse and I have Navigator Visa Credit Cards, and I only received one card. Will my spouse receive a card?

Yes. As a security feature, all cards being issued with this conversion will have a unique number and will arrive separately. However, you will continue to receive only one bill, regardless of the number of cards on the account.

What do I do if I have preauthorized or recurring payments that are tied to my existing Navigator Visa Credit Card?

To ensure there is no interruption in recurring or preauthorized payments (such as monthly telephone, electricity, gas bills, insurance, clubs), contact the merchant on or after August 29, 2016.

Will the due date for my credit card payment change?

No. Your due date will stay the same.

Will I need to send my payment to a new location after the conversion?

Yes. The new address will be included on the statement. If you pay this bill through online bill payment, you will need to update the mailing address to P.O. Box 2711, Omaha, NE 68103-2711 on or after August 29, 2016, to ensure that your payment reaches the processor by your due date.

I setup my monthly credit card payment as an automatic ACH transfer, payroll deduction or as a recurring transfer. Do I have to make any changes?

To ensure there is no interruption in automated payments, contact the provider of this service (i.e., another bank or bill pay service) on or after August 29, 2016 to provide your new credit card number and payment address of P.O. Box 2711 Omaha, NE 68103-2711.

Will my previous card history transfer to my new card number so I have access to the information if needed?

Your previous card history will be retained for customer service inquiries. However, you will not be able to access statements/history online as of August 29, 2016, so we recommend you save the statements to your computer or print hard copies before this date.

What is uChoose Rewards®?

uChoose Rewards® is a program that earns you points for using your Navigator Visa Credit Card. All Navigator Visa Credit Cards with rewards are automatically enrolled in the program. You can redeem your points toward anything from our huge online rewards catalog found at www.uchooserewards.com.

Do I need to register my credit card before I can start earning points?

No, you will start earning points the first time you make a transaction with your new credit card. However, you will need to register your card before you will be able to redeem your points. To register your card, visit www.uchooserewards.com and click the Register link.

How do I register my card?

Please visit www.uchooserewards.com starting August 30, 2016. On the right side, you will see “New to UChoose Rewards?” with a Register link. Click Register, and then enter your credit card number. Once your card is authenticated, it will ask to establish your user name and password. Follow the instructions as provided.

How do I start earning points?

Every time you make a purchase with your card, you’ll earn 1 point for every $1.00 you spend. Plus, you can earn additional points by shopping in-store or online with participating retailers.

Where can I earn points?

You earn points everywhere your Visa credit card is accepted. Participating retailers offer additional reward points for purchases made at their stores or online. A list of participating retailers can be found at www.uchooserewards.com.

Where can I view my point activity?

You can access the history of your point activity through www.uchooserewards.com.

When can I redeem points?

It can take up to 40 days for your points to be credited to your account. You must first accumulate 1,500 points before you can redeem points for catalogue items or gift cards.  You must earn 2,500 points before you can earn cash back which will show as a credit to your credit card statement. Your points are available to view on www.uchooserewards.com. Here you can keep track of the points you’ve earned, and then shop the online rewards catalog when you’re ready to redeem. A Wish List Tracker is also available to notify you when you’ve earned enough points to redeem a specific item.

Can I share points with family members?

All credit cards within an account automatically earn points together.

How much does it cost to participate?

There’s no cost to participate. Membership in uChoose Rewards® is free as part of your Navigator Visa Credit Card.  Visit www.uchooserewards.com  to start monitoring your points and browsing our online catalog.