Are you travelling with your MemberCard outside of Canada?

If you’re planning on taking a trip outside of Canada, please contact us at 416-238-5606 prior to leaving. Our ongoing monitoring programs have identified increased levels of fraud in certain countries recently. As a result, debit card transactions may not be processed in those countries effective 1 November 2016. If you are a frequent traveler to the US, you can sign a Bond of Indemnity which would allow you to have full access of your card without having to notify us each time, for the states you specify. Some conditions apply. For more information please contact us at 416-238-5606.

We apologize for any inconvenience this may cause, but the security of our Members and their funds is very important to us.

International Credit Union Day 2017

The 4 Biggest Credit Union Myths

With International Credit Union Day right around the corner on October 19, 2017, we’d like to clear up the four biggest myths about credit unions.

  1. They aren’t big enough.

There are big and small credit unions, but just like banks, your deposits at a credit union are insured by the federal government up to $250,000. When you factor in that The Energy Credit Union gives you a personal touch while still giving our members all the products and services they can find at a large bank, why would you choose to be a faceless number?

  1. It will be hard to access my money.

Credit unions have access to a network of 30,000 free ATMs and 5,000 shared branching locations, making it easy for you to access your money anywhere. You can also access your Energy CU account 24/7 with our mobile app and online cyber teller. If you are not set up cal lour offices today!

  1. I can’t join.

Anybody can join a credit union. You may be eligible based on your employer, where you live, or your family, as most credit unions allow members’ families to join. We serve both active and retired employees of Toronto Hydro Corporation, Toronto Transit Commission Signals, Electrical, Communications (SEC), Gerdau and Southlake Regional Health Centre. Also included are individuals employed by any municipality as defined in the Municipal Act, 2001, individuals employed in any health care facility operating in the Province of Ontario and related persons, and any persons employed in the transportation sector or affiliated entities. Your immediate family can also become members here, and once you are a member, you are a member for life!

  1. They don’t offer as many perks as banks.

Credit unions offer the same financial products as banks—checking accounts, debit and credit cards, online banking, RRSPs (individual retirement accounts), and home and auto loans—but because they’re not-for-profit, they often offer better rates than banks. All our profits go back to our members in the form of free products and services. If you have any questions about how you can get he most out of your CU account please give out offices a call!

Online Banking Terms and Conditions Updated

We launched 2 great new services (PFM and Credit View) this week and this means that we have updated our terms and conditions agreements for our online banking. The first time you log in you will need to read the updated terms and conditions. You will be asked for your PAC and you need to click “Agree”. Once you have “agreed” to our updated terms you will be able to log into the internet/mobile banking as usual.

If you have any questions please  call our offices at 416-238-5606 and we’d be happy to help!

PFM Is here! (And it’s free)!

Get the bigger picture
Get your complete financial picture in one place. Start with your transactions with us, add to that transactions from all your other financial accounts like credit cards, investments, mortgages—even loans from mom and dad—and see them in the same place. That’s your big picture. Best of all, it’s free and built into online banking.

See your spending
It’s easier to plan when you can see a snapshot of how and where you spend your money. All your transactions are automatically categorized and displayed in easy to understand charts and graphs, updated daily. Assign and re-assign transactions to different categories. Personalize your categories so they make sense to you. It’s easy to do.

Better budgeting
Budgets help you manage your money better, especially when they reflect your actual spending. A default budget has already been set up. But personalizing it is easy. It could be restaurants: $250/month or coffee: $50/month. Alerts will let you know when you’re close to or over your budget—helping you stay on top of your spending.

Safe & secure
Best of all, your transactions remain in the safety and security of online banking, from the financial institution you already know and trust. Continue to enjoy peace of mind.

Go mobile
View it all on the go. Make in-the-moment financial decisions by tracking your spending and budgets from your smartphone or tablet. It’s the information you need to make the right decision every time.

These tools show you how you spend, save and live today so you can make decisions that are right for you tomorrow. Log in to online banking to get started.

Cyber Teller Online banking back up and running.

Our online Cyber Teller experienced some technical difficulties over the weekend. We regret any inconvenience that this may have caused. Please know we were working diligently to amend the situation as fast as possible and our Cyber Teller is back online read to assist members.

If you have any questions please call our offices at 416-238-5606.

Personal Financial Management is coming soon!

It’s coming. 

Get ready for a new online banking experience. You’ll learn more about your money—and yourself—than ever before.

We’ve changed online banking
We will soon be adding some exciting enhanced features to our online banking to help you better understand your money. These features, displayed in easy to understand graphs and charts, will allow you to categorize your transactions, create budgets and link accounts you have at other financial institutions. And, it all happens within the safety and security of the online banking environment you’ve come to know and trust.
With our online banking experience you can:
  • Link your transactions from other financial institutions and add the value of your assets and liabilities for a complete look at your bigger financial picture.
  • See your spending automatically categorized and displayed in graphs and charts that make it easy to see where your money goes each month.
  • Personalize budgets to help you manage your money better.

Think before you tap

Bad guys are increasingly targeting you through your smartphone. They send texts that trick you into doing something against your own best interests. At the moment, there is a mystery shopping scam going on, starting out with a text invitation, asking you to send an email for more info which then gets you roped into the scam.

Always, when you get a text, remember to “Think Before You Tap”, because more and more, texts are being used for identity theft, bank account take-overs and to pressure you into giving out personal or company confidential information.

Here is a short video made by USA Today that shows how this works: Think before you Tap video

Social Engineering

Social engineering (in the context of information security) is the use of deception to manipulate individuals into divulging confidential or personal information that may be used for fraudulent purposes. To put that into a perspective that everyone can understand, social engineering is the art of criminal manipulation. Criminals try to manipulate you into giving up sensitive information like passwords, account information or access to your computer to install malicious software. (Alternatively, this software can give criminals access to your accounts, passwords and control of your computer.

Criminals use this tactic because it works. Humans tend to see the good in everyone. It is usually easier to use a person’s natural inclination to trust than it is to discover other ways to hack your software or computers.

Experts agree that the most vulnerable part of any security system is the human operating it. No amount of locks, deadbolts, alarm systems or guard dogs will protect you from that pizza delivery guy you are trusting at face value. If you let him in without first checking to see if he is legitimate, you are exposed to whatever threat he may represent. The Energy Credit Union would show our members more about how to help protect yourself from social engineering risk and notice common red flags that can help you to determine what to look for when dealing with criminals who are potentially attempting to manipulate you through a fraudulent email. Lets look at how scammers can manipulate an email to catch you!

Who is the email from?

  • I don’t recognize the sender’s email address as someone I ordinarily communicate with.
  • This email is from someone outside my organization and it’s not related to my job responsibilities.
  • This email was sent from someone inside the organization or from a customer, vendor, or partner and is very unusual or out of character.
  • Is the sender’s email address from a suspicious domain (like micorsoft-support.com)?
  • I don’t know the sender personally and they were not vouched for by someone I trust.
  • I don’t have a business relationship nor any past communications with the sender.
  • This is an unexpected or unusual email with an embedded hyperlink or an attachment from someone I haven’t communicated with recently.

Who is the email to?

  • I was cc’d on an email sent to one or more people, but I don’t personally know the other people it was sent to.
  • I received an email that was also sent to an unusual mix of people. For instance, it might be sent to a random group of people at my organization whose last names start with the same letter, or a whole list of unrelated addresses.

When was the email sent?

  • Did I receive an email that I normally would get during regular business hours, but it was sent at an unusual time like 3 a.m.?

What is the subject of the email?

  • Did I get an email with a subject line that is irrelevant or does not match the message content?
  • Is the email message a reply to something

Are there any attachments?

  • The sender included an email attachment that I was not expecting or that makes no sense in relation to the email message. (This sender doesn’t ordinarily send me this type of attachment.)
  • I see an attachment with a possibly dangerous file type. The only file type that is always safe to click on is a .txt file.

Are there any hyperlinks?

  • I hover my mouse over a hyperlink that’s displayed in the email message, but the link-to address is for a different website. (This is a big red flag.)
  • I received an email that only has long hyperlinks with no further information, and the rest of the email is completely blank.
  • I received an email with a hyperlink that is a misspelling of a known web site. For instance, www.bankofarnerica.com — the “m” is really two characters — “r” and “n.”

 What is the content of the email?

  • Is the sender asking me to click on a link or open an attachment to avoid a negative consequence or to gain something of value?
  • Is the email out of the ordinary, or does it have bad grammar or spelling errors?
  • Is the sender asking me to click a link or open up an attachment that seems odd or illogical?
  • Do I have an uncomfortable gut feeling about the sender’s request to open an attachment or click a link?
  • Is the email asking me to look at a compromising or embarrassing picture of myself or someone I know?

Here is a PDF  for quick reference. Remember to stay vigilant and safe!

Holiday Closure

Please be advised that all Energy CU branches will be closed for the Thanksgiving holiday, Monday October 9th, 2017. Branches will re-open Tuesday October 10th, 2017

Did you know? You can bank when and where you like!

You can access your account 24/7 with our Mobile App (for iOS and Andriod), online through our Cyber Teller or our Telephone Teller. We have Remote Cheque Deposit through your Smartphone too! If you are not yet signed up for these free services give our offices a call! For more information: dial 416-238-5606, reach us toll free at 1-888-942-2522 or please visit us online at www.theenergycu.com .

Are you travelling with your MemberCard outside of Canada?

If you’re planning on taking a trip outside of Canada, please contact us at 416-238-5606 prior to leaving. Our ongoing monitoring programs have identified increased levels of fraud in certain countries recently. As a result, debit card transactions may not be processed in those countries effective 1 November 2016. If you are a frequent traveler to the US, you can sign a Bond of Indemnity which would allow you to have full access of your card without having to notify us each time, for the states you specify. Some conditions apply. For more information please contact us at 416-238-5606.

We apologize for any inconvenience this may cause, but the security of our Members and their funds is very important to us.