News & Events

Important Notice Regarding our AGM Expand/Collapse

March 18, 2020

In respect to the rapid spread of the COVID-19 virus throughout the world and the recent announcement of the State of Emergency in Ontario, management, with support of the Board of Directors, have made some significant decisions.

OCCU's Annual General Meeting will commence as scheduled on Tuesday April 7, 2020 at 7 p.m., however the following will be implemented:
  • As per the World Health Organization’s order to ban public gatherings of 50 people or more, we encourage members to participate electronically, while minimum in person participation will be enforced as per OCCU’s By-Law minimum quorum requirements for Meetings of Members.
  • All other participants registered will join the meeting via electronic means (phone) and/or internet connection
  • Pre-registration to participate in the meeting will be required by contacting Administration Manager Linda Treen at 905-436-5416 or by e-mail: lindat@oshawacu.com 
Non-member guests will be invited to attend in person on an “as-required” basis.

In efforts to comply with social distancing the following measures will be
implemented:
  • Seating at the meeting will be arranged 2 meters apart.
  • There will be no food or refreshments served at the meeting.
  • The raffle of door prizes will be executed the following day. Prizes handed out later (TBD).
Most importantly, management is asking members to use our self-service banking
options to limit person-to-person interaction in-branch. Essentially, we are asking that
you do not visit the branch unless you have exhausted all other options.

Please ensure you have the following activated:
  • ATM Card
  • Daily cash withdrawal limit of $500 (call the branch if you require an increase)
  • Free cash withdrawals, PIN changes, transfers and balance inquiries at all EXCHANGE Network ATMs (free cash and cheque deposits at most ATMs and free bill payments at Oshawa Community’s Branch ATM)
  • Find an ATM near you: https://www.theexchangenetwork.ca/
  • Daily point of sale limit of $1,000 at merchant terminals. Don’t forget you can also request cash back!
  • Online Banking Profile
  • Transfer funds between accounts (including US - New!)
  • Make bill payments
  • Send and receive e-Transfers
  • Deposit cheques via Mobile Remote Deposit Capture (Mobile Online Banking App only)
  • Make loan payments
  • Check balances and view account statements
  • Telephone Banking
  • Transfer funds between accounts
  • Make bill payments
  • Check balances

Don’t forget, you can call us at the branch!

If you are not comfortable or are unable to use the methods above, please don’t
hesitate to call us directly to conduct one of the following transactions:
  • Transfer funds between accounts
  • Make bill payments
  • Check balances
  • Make loan payments
  • Order cheques (you may also pay bills this way)
Call us at 905-576-4200 or toll free at 1-855-576-4200 and select option #2 to perform
a transaction. Visit our website for our staff directory and to view other telephone
options.

As the COVID-19 pandemic evolves, management will continue to closely monitor the
situation and release announcements via website, e-blasts and voice messages when
calling the office. Currently, OCCU is operating with no impact to service. Should
circumstances change, stakeholders will be notified.



Issues With Point of Sale Terminals Expand/Collapse

Some cardholders are experiencing errors with point of sale terminals.

Be advised that the ongoing issues are resulting from the failure of specific merchant terminal brands. The failure affects newer issued debit and credit cards, industry wide. Be assured the problem is not specific to your OCCU debit card.

The industry and involved partners are working together towards resolving the issue as quickly as possible.


For the select identified merchants listed below, until the issue is resolved you are best to have additional payment methods such as alternative debit cards, alternative credit cards or cash.

As this error only affects CHIP & PIN transactions, if you experience this issue you could try splitting your transaction into smaller amounts to allow for Contactless (Tap) transactions.

Impacted Merchants/Acquirers include:
  • Global Payments (Loblaw Brand Merchants)
  • Moneris (Costco, La Senza, Victoria Secret/Pink, Bath and Body Works, Esso, Petro Canada)
  • Verifone
However there may be additional merchants that we have not been made aware of. This notice will be updated when the error has been corrected.

Update Feb. 6, 2020: The point-of-sale declines have decreased drastically since the update was rolled out. Declined transactions have decreased from 18,000+ to less than 3,500 per day industry-wide.

Still an outstanding issue regarding automatic fuel dispensing point-of-sale terminals that are still causing an increased number of declines. Interac and affected acquirers continue to work towards a solution.

The Reality of Fraud Expand/Collapse

Click here to view The Reality of Fraud document


Advisory: Intercepted Interac e-Transfers on the Rise

Over the past six months, the number of intercepted e-Transfers has continued to rise
since the spike financial institutions experienced last June. An “intercepted e-Transfer”
occurs when a member sends a legitimate e-Transfer and a fraudster intercepts the
notification e-mail by hacking into the sender’s e-mail. The fraudster then changes the
recipients e-mail to their own so they can deposit the funds into their own bank account
before the true recipient has a chance to accept the transfer.

Read on for tips to keep your e-Transfers secure:

  • Register for Auto-Deposit (Best Option): If you always deposit your e-ransfers to the same account, signing up for Auto-Deposit will completely eliminate the risk of an interception. The incoming transfer will always be deposited to the same account sans test question. There will be no opportunity for the fraudster to intercept the transfer however you will still receive an e-mail confirming the transfer has been credited to your account.
  • Choose secure test questions: If you choose a test question that is a “Yes” or
    “No” answer, the fraudster has a pretty good shot of guessing it correctly. Ideally
    you want to choose a question that only the receiver will know the answer to and
    that a fraudster couldn’t guess from perusing your social media accounts. The
    names of pets and grandchildren are both terrible choices.
  • Don’t give away the answer: This should be obvious, however, some people
    have opted to include the answer of their test question in the “Message” box.
    Don’t do this! Also, never share the answer to the security question using the same channel you are using to send the e-Transfer.
  • Be cautious of phishing links: This is one of the ways that your e-mail can
    become compromised. Never open or click on a link from an e-mail unless you
    are 100% confident in the sender. Sometimes hackers will create an e-mail that
    looks very similar to the e-mail of a reliable source. For example: if you receive
    an e-mail from myself at Oshawa Community Credit Union, make sure the
    address is (amym@oshawacu.com) and not something very close like
    (amym@oshawa.cu.com). Oftentimes clicking on a link will download malicious
    software to your computer that allows fraudsters to track everything you do,
    including which websites you visit and what login credentials you enter, such as
    your e-mail account.

If you are suspicious of an e-mail or are concerned you have been hacked, please don’t
hesitate to reach out to us at Oshawa Community for guidance.

Fraud Ambassadors

Linda Treen
Administration Manager & Compliance Officer
T 905-436-5416
E lindat@oshawacu.com

Amy Munro
Member Services Representative
T 905-436-5418
E amym@oshawacu.com

Valeyo 2020 Learning Grant Program Expand/Collapse

In support of the Credit Union community, Valeyo sponsors a Learning Grant that provides up to 12 grants in the amount of $1,000 each to eligible students for full-time study at a qualifying Canadian college or university.

The 2020 Learning Grant runs from February 17 - April 17, 2020 and is open to any student who is a member of a credit union.

To learn more, visit Valeyo's Website
 

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