News

Anna’s brother-in-law was right.

Here are news items from your credit union.

ATMMembers with checking accounts gained easier access to their money today as 1st Cooperative Federal Credit Union joined the CO-OP ATM Network, a nationwide group of automatic teller machines.

Members will pay no surcharge when they withdraw their cash from more than 700 ATMs in South Carolina and 30,000 across the United States in the CO-OP Network.

“Frankly, there aren’t many large national banks that have this many ATMs,” said Jo Ann Burnside, chief operating officer of 1st Cooperative. “It’s a huge benefit for members who have checking accounts with our credit union—and another reason to open a checking account with us.”

The new ATM network includes machines at retailers such as Publix grocery stores, Circle K and 7-Eleven convenience stores, and Costco Wholesale locations. The walk-up or drive-up ATMs at most credit unions are also surcharge-free.

“That easy access really makes our checking accounts very attractive,” Burnside said. “Our Visa debit card not only makes purchases simple, but it doubles as an ATM card, too.”

Members can find nearby ATMs with the “CO-OP ATM Shared Branch” locator app, which is free in the Apple and Google Play app stores or by going directly to www.CO-OPatm.org.

The app stores also have the free 1st Cooperative Federal Credit Union app, which allows members to deposit a check by taking its photo, view account balances and transfer funds between accounts.

Credit union membership is open to electric cooperative employees, trustees and their families, which includes spouses, parents, grandparents, children, grandchildren, siblings and in-laws.

A broad range of banking services is attracting a growing number of electric cooperative employee family members to 1st Cooperative Federal Credit Union. Almost 36% of credit union members are non-employees—either family members or retirees—as of May 2020.

Officials attribute the growth to an expansion of digital banking capabilities.

“Members increasingly use our online banking system or our mobile app to deposit or transfer funds and to pay bills without writing checks,” said Jo Ann Burnside, chief operating officer of the credit union.

Quick turnaround on loan applications may be another reason for membership growth among employees and their families.

“It just blows people away that we can often complete a loan application and approval in one day,” said Burnside. “We don’t guarantee it, but the fact is, that’s often the case.”

“Apparently, word gets around,” she said, in reference to growth in family memberships, which are open to electric cooperative employees, trustees, and their families, including spouses, children, grandchildren, parents, grandparents, siblings and in-laws.

More information is available at www.1stCooperative.com or by calling 803-796-0234.

The second decade of the 21st century brought another security consideration for users of paper checks and other dated paper documents.

Online (digital) banking is easy and convenient, but many of us still pay with paper drafts—that’s what a check is, one way to draft money from your account. And, security is important either way.

Consider this: If you write a date on a check in this format — 5/1/20 — and a mischievous person obtains the check, you’ve provided an easy path to a scam. The “20” in the date is not only the year but also the current century. That means a scammer could add “19” to the “20” you wrote and have a check ready for cashing. Or they could add “21” to make “2021” and have a check ready to cash next year.

So, 5/1/2020 is the way to go … or better yet May 1, 2020.

Her Story

When Anna needed a new car, her brother-in-law Kenny, a co-op employee, recommended 1st Cooperative, where family members of co-op employees can join, too. She opened her account and bought a new vehicle the same day. Then, for the double-win: While applying for the car loan, she also got a debt consolidation loan and is paying lower overall interest.

That’s great news, Anna, like the information you’ll find on this page.

These instructions apply only for your first time logging on to our new Online Banking system after September 2.

If you are an existing Online Banking user, here’s how to log on to our new Online Banking system:

  • Your temporary Logon ID (username) is the member number for the Primary Member on the account.
    • You must enter leading zeroes to make it 6 digits.
    • Examples: If your current member number is 1234, you would enter 001234. For the member number 12, you would enter 000012.
  • Your temporary Security Code (password) is the last 4 digits of the Primary Account holder’s Social Security number.
    • Example: 9876

You will be prompted to change your Logon ID and Security Code. Once these are changed, you will use your NEW Logon ID and Security Code the next time you log on to Online Banking.

Click here to proceed to Online Banking logon »

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