New ACH Same Day Debits
Beginning September 15, Parkway Federal Credit Union—along with every other financial institution in the country—will be required to follow new regulations that allow Automated Clearing House (or ACH) electronic debits to process multiple times per day.
ACH transactions are typically originated by electronic authorization (but can also be a paper check converted by the merchant to an electronic approval) that are posted to your account automatically. Some common ACH transactions include your direct deposit from your employer, or your payment to the utility company. Most member accounts have ACH transaction activity.
Historically, ACH transactions have posted to your accounts on the business day following the authorization. For example, you authorize the DTE Electric company to withdraw $75.00 for your monthly bill on a Tuesday morning, but the money isn’t actually debited until early Wednesday morning. This new rule means your payment may come out of your account on Tuesday (not Wednesday morning) essentially eliminating the one-day “float.”
Going forward, please make sure any payment authorizations are not made until the funds are in your account, rather than counting on a direct deposit or check hold release posting the following day.
Please be aware that if there are not sufficient funds to cover an ACH item in your account the item may be returned and you would be assessed a $32 returned item fee.
If you have any questions or concerns, please call the credit union at 313-532-6451
Important Information to Our Debit card Holders
As a reminder to our debit card holders, rental purchases cannot be made with your Parkway Federal Credit Union debit card. Due to rental company policies and practices it has become necessary to make this decision. This policy has been in effect since September 2012.
We apologize for any inconvenience. Credit Union Management
Sears & KMart (August 1, 2017)
We have been notified that some of our members debit cards may have been compromised when used at Sears or KMart in the past 6 Months.
We have reissued all of the affected cards to our members and a letter was sent out explaining in detail the problem. If you did not receive a letter from the credit union then your card was not affected.
Card Skimming (11/23/15)
Card skimming is an ongoing and serious problem. Financial Institutions are seeing increased regional incidences of both financial institution and retail location skimming. 7-Eleven locations have been particularly hit hard in New York and California.
Be wary of card swipes that appear altered or have added devices. The member should immediately report this to the management of the location in question. Members should also guard entry of their PIN from observers or cameras. Some devices have PIN pad enclosures, but most do not.
Meijer Fraudulent Activity (05/01/2015)
Due to the recent amount of debit card fraudulent activity at Meijer stores the credit union has put certain restrictions in place to protect our membership. For complete details please contact the credit union.
Fraudulent Parkway Checks (02/05/2015)
Recently we have received several telephone calls regarding checks that non-members have received and they are verifying the validity of the Official Check.
The person claims the check came with a letter that they are being asked to participate in a Mystery Shopper program. They receive a check and are told that they are to send a specified amount of money to participate then the shopper can keep the balance of the check. These check are fraudulent and should not be negotiated. If you receive one of these checks do not cash it! Also per the FBI please go to their internet crime complaint center at www.ic3.gov and file a complaint as well as with the US Postal Office at 1-877-876-2455 & your local law enforcement. If you are able to forward copies of the check as well as any supporting documents please send them by fax to 313-532-8903 or email to email@example.com
Scam Alert: Currently there is scam going around targeting financial institution debit /credit card holders. We are aware of an automated telephone message that is being delivered to our members stating that your card has been temporarily disabled. THIS MESSAGE IS FRAUDULENT. It then states to reactivate the debit card, you must provide card information. If you receive a call like this, HANG UP AND DO NOT PROVIDE ANY INFORMATION. Parkway Federal Credit Union would never ask for your card information in this manner. If you have any questions call our office at (313)532-6451
Multiple credit unions have recently reported an active phishing scam to capture debit card PIN numbers. Please be aware of suspicious phone calls and emails attempting to gain access to your sensitive account information. Please be aware that you should never provide personal information to someone unless you initiate the contact. Parkway Federal Credit Union will not contact you by phone or email requesting sensitive account information. If you receive any suspicious phone calls or emails please report them to us at 313-532-6451
Target Data Breach
Target has added information on their website to specifically address concerns from their customers who may have been affected by the data breach that occurred in their U.S. stores between November 27th and December 15th. This breach may affect debit and credit cards as well as the Target REDcard.
We would like to advise our members that if you made purchases at Target during this time period that you should monitor your account for fraudulent activity, if you see anything that is in question or you would like to close out your debit card and have a new card issued please call the credit union during normal business hours or 1-800-449-7728 after hours.
Keep in mind, any unauthorized ACH transaction (as an example REDcard transactions clear through the ACH) can be returned within 60 days of settlement date, as permitted by the ACH rules.
In addition to the breach itself, we have learned that phishing e-mails are being sent out that appear to be from Target. These e-mails play on the fears of the public that they may have had their card compromised. As a precaution you should be aware of this potential threat and we advise you to proceed with caution if you receive an e-mail from Target. You should not open any links that may be included in these e-mails as that could potentially allow additional access to your personal information.
For more information on customer questions and concerns about the data breach, please visit the following Target web page: