As Suffolk Federal celebrates its 50th Anniversary, the credit union continues to fulfill its mission and provide high-quality products and exceptional services to its members. Suffolk Federal has built a reputation as an innovative credit union with a strong commitment to member services by offering innovative financial solutions and products. Along that line, the credit union has recently introduced two new revolutionary app tools for its members, Card Lock and CardValet, which place complete debit and credit card control, fraud mitigation and security in members’ hands.
“With modern technology, your mobile device allows you to control your home, car and more from almost anywhere. Now you can do the same with your credit and debit cards,” explained Ralph D. Spencer Jr., Suffolk Federal’s President & CEO. “Suffolk Federal is offering these unique mobile apps to our members to ensure they have greater financial security in a time when we are all concerned with increased fraud and compromised data breaches. These tools offer financial peace of mind and an additional level of security that supplements the overall security strategy which Suffolk Federal already provides to its members,” Spencer added.
Card Lock, which Suffolk Federal has just recently launched, takes an active role in protecting customer accounts by setting up spending limits to manage money (can also be linked to dependents’ cards), reduces potential fraud expenses, locks and unlocks at any time and enables or disables purchases by category (i.e. travel, gas and food).
To increase members’ ability to manage their debit card activity, Suffolk Federal has also launched the CardValet app. With CardValet, Suffolk Federal customers can safeguard debit cards, receive alerts and establish controls by utilizing the mobile card management application to conveniently supervise and manage the usage of the debit cards in their wallet with the phone in their pocket.
When Card Lock and CardValet are used together with Suffolk Federal’s Digital Wallet, members receive an extra level of security. Digital Wallet offers members greater control over their Suffolk Federal credit and debit cards. You simply download the app, add your Suffolk Federal MasterCard® credit or debit card and with a quick tap of your phone, you can use your cards anywhere that mobile payments are accepted. What makes this app unique is that Suffolk Federal’s Digital Wallet does not store users card numbers. The app creates a secure and unique number to process a payment which is only able to be used by the owner of a device. To be used, the app needs the device owner to unlock the phone with a personal pin number or fingerprint.
The benefits of CardValet include locking and unlocking debit cards from a customer’s Smartphone; getting real-time notifications when the debit card is used; restricting transactions to a certain area using a phone’s GPS and setting transaction type alerts including in-store, eCommerce, mail/phone order, and ATM. The app also allows the monitoring of accounts with linked access and debit cards, for example, a teenager who has a debit card or employees of a small business. In addition, CardValet sets security preferences to match a customer’s spending habits and can set spending limits for every transaction.
Set-up is simple. Both CardLock and CardValet apps can be downloaded from the Apple App Store or Google Play. When used concurrently, all apps provide the user an easy and secure way to shop, manage and control each transaction in his/her own way.
Since its establishment, Suffolk Federal’s focus has been to provide the very best in quality banking offering its members a vast array of benefits and an opportunity to become a part owner for life of a strong not-for-profit financial institution. Suffolk Federal offers numerous benefits including Free Checking, Online Banking, lowest loan rates, highest returns on savings and reduced fees and plenty of opportunity to obtain free financial knowledge and counseling. In addition to the recently added apps, Suffolk Federal also offers the latest world-class financial technology with a strong network of local branches and ATMS and an innovative mobile banking app.