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Tab 1

 

The Credit Union is noticing large dollar withdrawals from members. It appears there may be concerns that access to savings may become an issue. We can assure you, that will not happen. The Credit Union intends on remaining open unless governmental decrees prohibit opening.

The risk these large dollar withdrawals pose is that they become “mattress savings” as they are stored in the homes. Such mattress savings are at risk to events such as home fires and burglary. Several news outlets have carried stories of increased break-ins as news of home money storage increases.

Please remember that your dollars are fully insured with us. The first up to $250,000 by the NCUA, and then to the extent of your deposit by the MSIC insurance fund.

To assist you in accessing your money, you can now pick up a pre-paid debit card, at no cost to you, at any one of our branches. Onto this card, you can load any amount of dollars you would like and can add dollars to it with a simple phone call to the Credit Union. We suggest you start the card with a reasonable amount and add as you need to. There will be no charge for the add-ons for you through this period.

You can also take the withdrawal in Bank Check form to place in your home safe until this situation normalizes. Please avail yourself of these safer alternatives.

 

Tab 3

 

SouthCoast FCU and Coronavirus (COVID-19) Update

We continue to prefer to maintain all of our branches open at this time to ensure you have full access to our staff in as safe a manner as possible. We are asking our members to emphasize utilization of our electronic and ATM access points in your everyday transactions. We also encourage you to utilize our website for online loan requests. If we are able to keep our lobby traffic to persons at work only, we will find that we may be able to maintain this status.

If you have not downloaded our mobile App, HERE are some easy steps to do so.

If you have not gained access to our Home Banking and wish to do so, HERE is the link to get you started.

If you have not availed yourself of our ATM network, HERE is how you can find a location near you that provides free ATM access to your dollars.

Remember, ATMs at many Target, Walmart and other locations are free of charge to our members, but check the web-site to be certain. If you do find yourself at an ATM that does sur-charge you and you need the access, let us know and we will reimburse you all reasonable transaction fees (overdraft fees you may incur are not included in this service).

Finally, please remember that we have drive-up facilities at our downtown New Bedford facility, located at 271 Union St., that will meet most of your requirements and maintain the social distancing that will allow us to beat this virus!

Please be safe and let us know how else we may be able to assist you.

 

Tab 2

 

Southcoast Credit Union goes GREEN. Sign up for E-statements today to avoid the $1.00 per month paper statement charge. eStatements are the quickest and safest way to view your monthly account statement(s).

 

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No more waiting for mailed paper statements.

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Statements are online usually the first day of the month - at least one week before mailed statements arrive.

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Save a tree - reduce paper waste!

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View your account and credit card statements online in a secure environment, 24/7.

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An e-mail will let you know when your statement is available online

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Tab 4

 

As we navigate through our world situation in relation to the coronavirus, I want to reassure our members that we remain vigilant to your financial needs and are remaining open to facilitate your access. In addition to our electronic outlets, our branches are conducting regular hours and the drive-up at our Union Street branch remains open. Our Fall River branch, located at 68 Thomas St, Fall River, also continues to have extended hours on Thursdays and Fridays for your convenience.

All of your dollars are insured to $250,000 and further insured by MSIC to the full extent of your deposits. This continues to make us a safe place to maintain your accounts. Excess withdrawals, unless needed, are risky to hold at home and we recommend you maintain your safe deposits in your SouthCoast Federal Credit Union account.

Feel free to contact the credit union or me personally, if you have any concerns regarding access.

Duarte D. Silva
President/CEO
Dsilva@southcoastcu.org
508-525-4310