February 24, 2015
Due to inclement weather all East Texas Professional Credit Union offices will delay drive thru opening until 8 a.m. on Wednesday, February 25. We apologize for the inconvenience.
February 23, 2015
Due to inclement weather all East Texas Professional Credit Union offices, with the exception of the Lufkin and Nacogdoches locations, will close at 4 p.m. today, February 23, and will delay drive thru opening until 8 a.m. on February 24. Lufkin and Nacogdoches offices will remain open normal business hours both days. We apologize for the inconvenience.
January 1, 2015
Notice to Commercial Checking Account Holders
East Texas Professional Credit Union will be enacting several changes to our Commercial Checking Accounts. These changes are intended to better serve our business members while also providing a good base from which further services may be offered in the future.
Name Change: Previously termed “Commercial Checking” accounts, these accounts will now be referred to as “Business Checking.”
New Service and Corresponding Fees: The Credit Union offers the following new service beginning February 1, 2015.
- Locking night drop bags……….………………………...……….….......…..$25.00 per 2 bags
- Replacement keys……………………………………………………….........…...…..$5 per key
New Fees: The following fees have been added to our Rate and Fee Schedule and will become effective March 1, 2015.
- Deposited items > 200 (applies monthly to checks deposited)………..…..…$.10 per item
- Rolled coin…………………….…………………………………..…..............………$.08 per roll
You can obtain a copy of the complete Rate and Fee schedule at any branch office or by calling us at (903) 323-0230; or at the Credit Union’s website: www.etpcu.org. Your acceptance and agreement to the revised terms will be shown by your continued use of any existing or new account(s) or services after the effective date.
December 23, 2014
Notice to IRA Account Holders
If you own multiple IRAs and frequently move assets between those IRAs, be aware that the IRS has applied a new interpretation to its rules regarding the number of rollovers you can complete within one year.
Old Interpretation: In 2014 and previous years, proposed Treasury regulation (1.408-4(b)(4)(ii)) and IRS Publication 590, Individual Retirement Arrangements (IRAs), had stated that you were eligible to roll over one distribution per IRA that you owned during any 12-month period. Also, the IRA assets that were rolled over could not be rolled over more than once during the 12-month period. The IRS has now changed this interpretation.
New Interpretation: Beginning January 1, 2015, you are limited to only one IRA rollover per 12-month period, regardless of the number of IRAs you own. The 12-month period begins the day you receive the IRA distribution. Keep in mind that this 12-month rollover rule applies only to IRA-to-IRA rollovers and does not apply to your employer-sponsored retirement plan rollovers or to rollovers between employer-sponsored retirement plans and IRAs. In addition, this rule does not apply to IRA transfers (the direct movement of IRA assets to another IRA). This means that you still can complete an unlimited number of IRA transfers during any period because you do not have access to the assets.
Roth and Traditional IRAs will be aggregated for purposes of this one-per-taxpayer limitation. If you receive a distribution and subsequently roll over the amount from either type of IRA, you will be disqualified from completing a subsequent rollover for 12 months. For example, if you take a distribution from your Roth IRA on January 15, 2015, and roll over the amount to another Roth IRA within 60 days, you cannot roll over another distribution from any Roth, SIMPLE, or Traditional IRA that you may own until January 15, 2016.
The new rollover limitation does not include Roth IRA conversions. For example, if you take a distribution from your Traditional IRA in 2015 and deposit the amount into a Roth IRA within 60 days, that is considered a conversion and the 12-month rollover rule does not apply.
60-Day Rule Still Applies: The 60-day rule for IRA-to-IRA rollovers will remain unchanged. You still will have 60 days from the date you receive IRA assets to roll them over to either the same IRA or another IRA. Be sure to complete your rollover before the 60th day if the 60th day falls on a Saturday, Sunday, or legal holiday, as there is no extension to complete a rollover.
Further Guidance: Please consult your tax professional for individual tax consequences regarding this new “one rollover per year” rule.
October 1, 2014
Change to Cross-Border Transaction Fee
MasterCard has increased the Issuer Cross-Boarder Assessment it charges from 0.8% to 0.9%. Therefore, the Cross-Border Transaction Fee section of the Cardholder Agreement is amended to read as follows: For all transactions in which the cardholder country code differs from the merchant country code, you will be assessed a fee of 0.9% of the transaction amount. If a currency conversion is performed, you will be assessed a currency conversion fee of 0.2% of the transaction amount.
Your continued use of the card on or after the effective date of this change acknowledges acceptance of these amended term.
This change is effective November 1, 2014.
September 17, 2014
Notice to MasterCard Cardholders
Effective October 17, 2014, MasterCard will be enacting changes to rules limiting cardholder liability for unauthorized transfers. The MasterCard limitations on liability for unauthorized transfers are in addition to limitations on liability established by federal law. The revised limitations will apply to all transactions conducted with a MasterCard branded card, including PIN-based transactions. (Note: PIN-based transactions are not covered by MasterCard’s current rule.) As a result, in order to be covered under MasterCard’s zero liability limitation for unauthorized transactions, you must promptly report the loss or theft of your MasterCard branded card to your nearest ETPCU branch or by calling 903-323-0230 or 800-256-5009. It is no longer a condition for zero liability that you have not reported two or more incidents of unauthorized use in the preceding twelve months or that the account to which the unauthorized transaction is posted is in good standing; however, if you have failed to exercise reasonable care to safeguard your card from loss or theft and/or you fail to promptly report the loss or theft of your card, then you may not be eligible for zero liability. As such, your liability could be up to $500 if not reported promptly [within two (2) business days of discovery], or your liability could be unlimited if reported after 60 days of the statement that shows the unauthorized transaction(s).
August 8, 2014
Pasadena Police Department Public Safety Advisory - "Bank Jugging"
In the past several months the crime of “bank jugging” has been on the rise in Harris County, including the city of Pasadena. The Pasadena Police Department Auto Crimes Unit offers the following information on what “bank jugging” is, what citizens should be on the lookout for, and things they can do to protect themselves from becoming a victim.
WHAT IS BANK JUGGING?
- The term is used to describe suspects who sit in bank parking lots and watch customers go in and out of a bank. The suspects follow the customers they believe are in possession of cash and look for an opportunity to burglarize their vehicles or rob them directly.
- “Juggers” most frequently target customers carrying bank bags, bank envelopes and coin boxes.
- Most “jugging” Burglary of Motor Vehicles occur at a retail or commercial business the customer stops at after leaving the bank.
- If a customer leaves the bank and does not leave their money unattended in the vehicle most “Juggers” will go back to the bank to target another banking customer; however, some “Juggers” will confront the customer in an attempt to rob them by taking the money by force.
THINGS TO BE AWARE OF WHEN BANKING:
- Occupied vehicles backed into parking spaces with clear view of the front doors of the bank, ATM or commercial drive thru line
- Vehicles arriving at bank with no occupants entering the bank
- Vehicles changing parking spaces
- Vehicles with dark tinted windows with little or no visibility of the occupants
- Vehicles with multiple occupants
HOW CAN YOU PROTECT YOURSELF?
- Always be aware of your surroundings
- Conceal money before leaving the bank. Never openly carry bank bags, envelopes or coin boxes.
- Be aware of anyone following you from the area of a bank
- If you suspect you are being targeted, call 911 from your cell phone and keep the dispatcher informed of your location, the direction you are traveling, and drive toward the police station until marked police cars are able to locate you.
- Do not leave or try to hide your bank bag or bank envelope in your vehicle when you exit at your next destination, even if it’s your residence.
April 10, 2014
The Heartbleed Bug is a prominent threat to data systems around the globe and has been linked to OpenSSL data encryption. East Texas Professional Credit Union does not utilize OpenSSL for our data encryption and no known vulnerabilities to the Heartbleed Bug exist within our systems at this time.
We at East Texas Professional Credit Union recommend that you take precautions to protect yourself from this and other security threats by frequently changing passwords, securing confidential information, using industry leading fraud security products on your online devices, avoiding suspect websites, and ignoring or deleting any emails from unknown entities.
December 19, 2013
Recently we were made aware of a data breach involving the payment system at a national retailer. MasterCard has not confirmed the identity of the merchant in question, but has provided us with a list of cardholders who used their cards at one of the merchant’s locations. We at East Texas Professional Credit Union are taking necessary steps to protect the financial assets of our members. Affected cardholders are being notified, new cards are being issued, and no immediate action is required by members.
July 22, 2013
We at East Texas Professional Credit Union are excited to introduce a new layer of debit card security to our fraud monitoring process, Card Alert Notification. This new text message service has been widely requested and, as fraud concerns continue to grow, will shorten the time it takes to identify fraud and reduce losses.
What we monitor
Your card transactions are monitored for purchases outside your normal purchasing patterns, unusual timeframes and geographical locations, or purchase patterns that are consistent with previously identified fraud trends.
How we contact you
Getting in touch with you quickly is critical to stopping any potential card fraud. With our Card Alert Notification service, you will receive a text message asking you to confirm if you authorized a suspicious transaction.
Receiving a text message
- The text message will arrive with our name, dollar amount of the transaction and merchant name.
- You will be asked to reply with “Yes” if you authorized the transaction. You will receive a confirming text message and can continue to use your card with confidence.
- A “No” reply means you have not authorized the transaction. You will receive a confirming text message and you will be contacted immediately by a fraud specialist to protect your account. Please answer this important call.
- Do not reply to the text message with any personal or confidential card information.
- If you would like to opt out of receiving these important messages by text, you may reply with STOP to indicate this preference.
Help us protect you
- Keep us up to date with your current mobile and home phone numbers and contact information.
- Traveling in the U.S. or to a foreign country for an extended period of time? Contact us prior to your departure and we’ll make our monitoring more flexible during your travel or vacation time.
East Texas Professional Credit Union is committed to protecting your financial assets and maintaining the confidentiality of your personal information. We are confident that this new security feature will help guard against fraud, and add value to your membership.
* Text messages to your mobile device are free, but all other fees on calls and texts are subject to the terms of your voice/data plan with your mobile carrier.