2024 Newsletter

Card Services

Embrace the Future of Card Management with CardHub at DFCU

At Deseret First Credit Union, we continually strive to provide innovative solutions that enhance our members’ banking experience. With this goal in mind, we’re excited to introduce CardHub, a cutting-edge feature integrated into our Mobile Banking App. CardHub offers a comprehensive suite of tools designed to give you unparalleled control over your debit and credit cards, all from the convenience of your smartphone or computer.

What is CardHub?

CardHub is a feature within the Deseret Mobile Banking App that transforms how you manage your cards. Whether you need to activate a new card, update your PIN, or even temporarily block a card, CardHub places all these capabilities and more at your fingertips. It’s about making card management as intuitive, immediate, and secure as possible.

Key Features of CardHub

Instant Digital Card Access

The moment your debit or credit card is issued, its details, including the card number, CVV, and expiration date, become accessible within CardHub. This feature is invaluable for times when you cannot wait for a physical card to arrive—enabling you to start making online purchases and add your new card to mobile wallets right away.

Immediate Issue of New Cards

If you find yourself far from a branch or in urgent need of a replacement card, a simple call to DFCU allows us to issue a new card directly to CardHub. This means you can begin using your new card for digital transactions immediately, providing a seamless solution until your physical card arrives.

Comprehensive Card Management

CardHub empowers you with several tools to manage your cards effectively:

• Activate New Cards: Get your new card up and running with a few taps.
• Update PINs: Change your debit card’s PIN securely within the app.
• Temporary Card Block: If your card is lost or suspected stolen, block it instantly to prevent fraudulent use.
• Real-time Alerts: Set up alerts to receive notifications whenever your card is used, keeping you informed of all transactions.
• Travel Notes: Let us know about your travel plans through the app to ensure seamless use of your card overseas.
• Family Card Management: Easily view and manage the cards of joint account holders and dependents.

The Benefits of Using CardHub

CardHub is designed with your convenience and security in mind. By reducing the need to visit branches for routine card management, CardHub saves you time while providing a secure environment to handle sensitive card information. It also enhances your ability to respond swiftly to any potential security issues with your cards from anywhere at any time.

Accessing and Using CardHub

To start using CardHub:

1. Open the Deseret Mobile Banking App or log into Online Banking.
2. Navigate to the CardHub section to discover the various card management options that are available.
3. Explore and utilize the features to take complete control of your cards.

CardHub is intuitive for new users and seasoned banking veterans alike, offering detailed guides within the app to help you maximize all its features.

Conclusion

CardHub by Deseret First Credit Union is not just a tool—it’s a comprehensive card management solution designed to simplify and secure your financial dealings. As the digital banking landscape evolves, so does our commitment to providing you with the best possible services to manage your finances effectively. We encourage all our members to explore CardHub and discover how it can enhance your banking experience. Our dedicated support team is always ready to help for any inquiries or further assistance.

By leveraging the capabilities of CardHub, you’re not just keeping up with the technological advances in banking—you’re staying ahead. This is banking that’s as mobile as you are, ensuring that your financial control goes with you wherever you go.

Member Security

Stay Ahead of Fraud: Protecting Yourself from Phishing Scams and Account Takeovers

In today’s digital era, the security of our personal and financial information is paramount. At Deseret First Credit Union, we prioritize the safety of our members’ assets and information. As part of this commitment, we’re here to arm you with the knowledge and tools you need to stand strong against fraud—especially against the rising threats of phishing scams and account takeovers.

The Hidden Hooks of Phishing Scams

Phishing scams cleverly disguise as legitimate requests from well-known institutions or organizations. Their goal? To trick you into handing over sensitive information such as passwords, account numbers, and social security numbers. These scams can reach you through emails, text messages, or phone calls and often press for immediate action or response.

Recognizing the Bait

Awareness is your first line of defense. Watch out for these common phishing red flags:

• Unexpected Urgency: Messages creating a sense of immediate action.
• Grammar and Spelling Mistakes: Professional organizations have copy editors for their communications.
• Suspicious Links or Attachments: Hover over links to see where they really lead without clicking on them.
• Requests for Personal Information: Legitimate entities won’t ask for sensitive details via unsolicited communications.

Cutting the Line

Safeguarding against phishing requires a proactive approach:

• Verify Before Trusting: Double-check the source’s authenticity through official channels.
• Think Before You Click: Resist the urge to click on unexpected links or attachments.
• Secure Your Accounts: Utilize two-factor authentication wherever possible for an extra security layer.

Preventing Account Takeovers

An account takeover can happen when a fraudster gains unauthorized access to your banking or personal accounts, leading to potential financial loss and privacy breaches. This often results from successful phishing attempts or leaked personal information.

Fortifying Your Defences

Take these steps to bolster your account security:

• Monitor Regularly: Keep an eye on your account activities for any signs of unauthorized transactions.
• Strengthen Your Passwords: Use complex, unique passwords for different accounts and change them periodically.
• Update Regularly: Ensure your software, especially security features, is up-to-date to protect against new threats.

In Case of Suspicion…

If you suspect you’ve fallen victim to a phishing scam or notice signs of an account takeover:

• Act Immediately: Contact Deseret First Credit Union to report the incident and secure your accounts.
• Change Passwords: Update your passwords, especially if you’ve disclosed them or they may have been compromised.
• Stay Vigilant: Monitor your accounts closely and report any further unusual activities.

Together, We’re Stronger

Your security is a partnership between you and Deseret First Credit Union. By staying informed, vigilant, and proactive, we can collectively thwart the attempts of fraudsters. We’re just a call or visit away if you have any concerns or need assistance. Remember, knowledge is your power in the fight against fraud, and vigilance is your shield.

Business

Unlocking Business Potential: Essential Services from Deseret First Credit Union

Deseret First Credit Union is committed to supporting the financial needs of businesses of all sizes. From startups to established enterprises, our tailored business services are designed to foster growth and ensure financial clarity. This article will explore three key services: using a business credit card to separate personal and business spending, securing an investment property loan, and understanding the fundamentals of business auto loans.

Managing Finances with a Business Credit Card

Importance of Separating Expenses

One fundamental rule of business finance management is keeping personal and business expenses separate. This separation simplifies accounting, enhances financial clarity, and is crucial during tax season. A business credit card is an excellent tool for achieving this segregation.

Benefits of a Deseret First Business Credit Card

A business credit card from Deseret First not only helps in managing expenses but also offers additional benefits:

• Ease of Tracking: Streamline expense management and review business expenditures in one place.
• Build Credit: Establish and improve your business credit, opening doors to better interest rates and more significant loan opportunities.
• Rewards and Perks: Earn rewards tailored to your business needs, from cash back to travel perks.

Using a Deseret First Credit Union business credit card ensures that all business transactions are kept distinct from personal spending, providing clear insights into your business’s financial health.

Keys to Qualifying for an Investment Property Loan

Understanding Investment Property Loans

Investment property loans are designed for purchasing residential or commercial properties that will generate income through renting, leasing, or price appreciation. This type of loan has different qualification criteria compared to residential loans, primarily due to the higher risks involved.

Qualification Criteria

To secure an investment property loan from Deseret First, consider these key factors:

• Credit Score: A strong credit score is essential, as it reflects your financial reliability.
• Down Payment: Investment property loans typically require a larger down payment, often 20% or more, reflecting the higher risk.
• Debt-to-Income Ratio: This ratio should be balanced to show that you can manage additional loan payments.
• Property Potential: The income potential of the property will be scrutinized to ensure it can cover the mortgage and associated costs.

Understanding and preparing for these criteria will increase your chances of obtaining an investment property loan, facilitating your growth in the real estate market.

Business Auto Loan Fundamentals

Why Consider a Business Auto Loan?

Vehicles are essential for many businesses, whether for transporting goods, services, or personnel. A business auto loan can help in acquiring vehicles without paying the full price upfront, thus preserving cash flow for other operational needs.

How to Secure a Business Auto Loan

Deseret First makes the process straightforward:

• Assess Your Needs: Determine what type of vehicle your business requires and its intended use.
• Review Your Finances: Ensure your business financials are in order, with strong cash flow and good credit, to support loan approval.
• Choose the Right Vehicle: Opt for vehicles that offer the best balance of price, functionality, and reliability.

Understanding these loan fundamentals will help you make informed decisions about financing vehicles for your business operations.

Deseret First Credit Union offers a range of business services designed to streamline your financial management and support your business growth. Whether it’s keeping personal and business spending separate with a business credit card, investing in real estate with a property loan, or expanding operational capacity with a business auto loan, we are here to help. Our team is dedicated to providing the support and tools your business needs to succeed. Embrace these opportunities to enhance your business’s financial health and operational efficiency.

For more details or to discuss your specific needs, please reach out to our business services team. We’re here to assist you every step of the way, ensuring your business achieves its full potential.

The Deseret First Experience

Deseret First Credit Union: Aligning Your Financial Goals with Shared Values

Deseret First Credit Union (DFCU) isn’t just a financial institution; it’s a vibrant part of your community. We share the same values as our members, focusing on integrity, service, and stewardship, and we’re committed to providing a wide array of financial products and services that reflect these principles. As we work alongside our community, we continually strive to offer solutions that not only meet diverse financial needs but also contribute to our shared values.

Personal Banking

DFCU offers a full spectrum of personal banking services designed to cater to every phase of life. From checking and savings accounts with competitive interest rates to personal loans and credit options, we provide the tools necessary for financial health and growth. Our personal banking services are tailored to help our members manage their daily finances with ease and confidence.

Business Services

Supporting local businesses is crucial to community prosperity, which is why DFCU provides a robust range of business banking solutions. These include business checking and savings accounts, loans for equipment and expansion, and merchant services. We understand the challenges local businesses face and offer financial products to help them thrive and grow within the community.

Mortgage and Real Estate Loans

Whether it’s buying a first home or investing in real estate, DFCU has the expertise to guide members through every step. We offer competitive mortgage rates, refinancing options, and loans for investment properties. Our goal is to make home ownership and real estate investment accessible and successful for all our members.

Auto Loans

For many, a reliable vehicle is essential. DFCU provides auto loans with favorable terms and rates, making it easier for members to purchase new or used vehicles. We streamline the financing process so our members can focus on choosing the right vehicle for their needs without financial strain. Investing in the Community

Educational Initiatives

Education is the foundation of a prosperous community. DFCU actively participates in financial literacy programs and workshops aimed at all age groups. By empowering individuals with knowledge about finances, we’re helping to build a community equipped to make informed decisions that lead to a secure financial future.

Charitable Contributions and Sponsorships

Our commitment to the community goes beyond financial services. Through the Deseret First Charitable Foundation, we help those missionaries in need of financial help, whether it is going out to serve or getting an education afterward. We are also involved in various charitable endeavors and local sponsorships, supporting causes that resonate with the values of our members and enrich the lives of those in our community.

Conclusion

At Deseret First Credit Union, we do more than provide financial services; we forge relationships built on shared values and mutual trust. We’re proud to be a part of our community, offering financial solutions that help our members achieve their goals while giving back to our community and members.