Member Notices

Statistics Canada Request to Banks for Financial Transaction Data

November  2, 2018 - In a recent news story, Global News reported that Statistics Canada is planning to collect individual financial transaction data and sensitive information from Canada’s nine largest financial institutions – bank, credit card companies and “other organizations that may process financial transactional data” beginning in January 2019. Their intent is to create a database of financial transactions in order to obtain detailed and accurate data about the economy.  StatCan is citing low response rates to surveys and their need for accurate and reliable data to support good decision making, as the reason for using this method of data collection.

Please rest assured we take our members financial privacy very seriously; it is of utmost importance to our business. The Canadian Credit Union Association has been in contact with StatCan to find out more information and whether credit unions will be approached for similar data on their members.  At this time, we are unaware of any credit unions that have been approached by StatCan.  Credit unions will share member information only if obligated by law.

We will continue to monitor this situation and provide updates as we know more.

Phone Scam Alert

November 1, 2018 – Please be advised we’ve had a few reports of members receiving automated phone calls showing a call display from Kootenay Savings.  Kootenay Savings is not associated with these calls and does not use automated phone calling to members. If you receive a similar call, please hang up immediately.  For more information on this scan and other types of fraud, please visit the Royal Canadian Mounted Police and Canadian Anti-Fraud Centre websites.

Online Banking Security Enhancement

February 28, 2018 - As of February 28, we’ve added a new layer of security to online banking to improve both your banking experience and protect you from fraud. This level of security is known as MemberDirect® Risk Engine.

This improvement allows the Risk Engine to control how often to ask “Security” questions.  The Risk Engine is able to do this based on the usage pattern on your device, location and other behavioral  patterns that assist in identifying and preventing fraudulent activities on your account.

You will likely notice that your security questions are being asked less frequently, particularly from devices you regularly use.  If using a new device or one you don’t use frequently, you will likely be asked to answer a security question. Another change to note is that you will no longer be prompted to register your computer.

Our goal is to ensure you always feel protected when banking online.  Please call us at 1.800.665.5728 or contact us should you have any questions or concerns.

CUETS Credit Card Name Change

January 18, 2018 - If you have saved your CUETS Credit Card to your list of payees on online banking, please note the name has been changed from Credit Union Mastercard to CUETS Financial Mastercard. Your credit card number remains the same and is not affected.