Have you heard of the Iron Triangle? It’s the idea that you can only pick two from the most common three goals of a project: speed, quality, and affordability.[1]
When it comes to protecting and preserving your money, credit unions such as the North Jersey Federal Credit Union are able to offer all three with a combination of established expertise and investment in secure technology.
What that means is you can take advantage of the significant benefits of a credit union—low interest rates, customer-centered practices, and a low-to-no-fee approach such as free withdrawals at 30,000+ ATMs nationwide—plus the convenience of 24/7 mobile and online banking.
What Is Digital Banking?
Digital banking covers two general methods of accessing your accounts through the internet to view current information and take actions (such as paying bills).
You can opt for either or both:
- Online banking on a secure website via a browser on your laptop, tablet, or PC
- Mobile banking accessed through an app downloaded to your smartphone.
Digital banking allows you to access your checking, savings, credit card, loan, and other accounts to:
- Check balances and review account activity
- Schedule bill-paying and set up or change recurring payments
- Transfer funds between accounts
- Apply for loans
- Open new accounts
- View and download PDF account statements
- Update contact information and communication preferences
- Download CSV files to open in spreadsheet and accounting software
Mobile apps are often streamlined for everyday use, with more complex actions or applications available via browser-based online banking. However, the one feature that’s usually available only through apps is mobile deposits: electronically depositing checks with the help of the camera on your smartphone.
The Benefits of Digital Banking
The greatest advantage of digital banking is the savings you’ll see in your most precious resource: time.
You can opt out of:
- Travel to a branch in person
- Mailing or dropping off checks to be deposited
- Filing and keeping track of paper statements
Particularly with a combination of round-the-clock mobile and online access, digital banking allows you to control when, where, and how you conduct the business of family finances.
Advantages also include:
- Ability to pre-schedule bill payment dates and set up recurring payments
- Feature to split bill payments across multiple accounts
- Reminder and alert options for new documents, thresholds, and security concerns
- Less storage and mailbox clutter through electronic statements
- Smaller environmental footprint with less fuel consumption and paper waste
- Less cost on postage and branch visits
- Immediate access to past account statements
Is Digital Banking Safe?
If digital banking is new to you, it might be worrisome to know your account information is traveling through the internet. However, there are multiple levels of security protecting it, including data encryption based on SSL (secure socket layer) protocols and password-protected account authorization.
Credit unions simply cannot function without effective digital banking security—protecting your money and information is their mission and how they continue to function. Your online and mobile banking can only be accessed with your unique user ID and password combination.
Plus, digital banking protects you from one of the most common sources of identity theft: paper bills and statements stolen either when they land in your mailbox or are thrown out.
Still concerned? Check with your individual credit union on their specific security protocols for clarity and assurance.
How to Protect Your Digital Bank Accounts
Digital banking can help protect you in a number of ways, but you’ll also need to take care to preserve your account information. Be sure to:
- Keep your user ID and password secure at all times
- Use complex passwords that cannot be guessed
- Don’t log in when or where someone could view your keystrokes
- Sign out of your account instead of simply closing a tab or browser when done
- Never share your password with anyone else
Work With The Leading Credit Union in New Jersey
If you’re a resident of or regular visitor to our service area, you have access to a premier credit union with North Jersey Federal Credit Union. Founded in 1936, we’re a not-for-profit financial cooperative with a proven record of putting our members’ interests first.
That experience is combined with leading practices and technology to ensure your money is secure and accessible 24/7 through digital banking on our website or mobile app. Combined with low loan and credit card rates, budgeting and goal-setting tools, and low fees, we’re confident in calling NJFCU the best credit union in NJ.
Ready to learn more? Discover how you can become an NJFCU member today.
