Over 1 million monthly State Employees’ Credit Union (SECU) electronic alerts now help members manage their accounts on a daily basis. SECU’s Alerts service provides a variety of account notifications via text message or through the secure message center on Member Access. The Alerts help members monitor their accounts for potential fraudulent transactions, provide notification of E-statement or Secure Message availability, and offer account specific alerts to help members avoid unnecessary Non-Sufficient Fund (NSF) fees and keep abreast of account transactions.
Both the Low Balance and Another Chance Alerts help members avoid or eliminate potential NSF and overdraft-related fees. When a checking account balance dips below a threshold determined by each member, a Low Balance notification is sent to the member. Likewise, members who have overdraft protection and have signed up for Another Chance Alerts receive a notification to make a deposit or transfer before the 5:30 pm end of SECU business day to prevent an item from being returned due to insufficient funds. The Credit Union recently processed nearly 31,000 Another Chance Alerts during a single month, saving members close to $237,000 in NSF fees!
Rick Rhoads, Senior Vice President of SECU’s E-Services department, comments, “Alerts are very beneficial for our members, many whose professional and personal lives are extremely busy and leave little time to monitor activity on their accounts. SECU strives to help members keep money in their pockets with services designed to mitigate potential fees, and Alerts support the efforts of the Credit Union to accomplish this objective.”