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EMV Cards with Visa Chip Technology

emv card

It’s no secret that card fraud has become a big problem nationwide. Recently, there has been extra fraud alerts for the state of Nevada as a result of a high volume of recent fraudulent activity reports in the state. Fraud is occurring not because people are losing their wallets at an alarming rate, but rather the fraud is coming from hackers using transaction codes to find your credit card information and replicate it. One way to combat the fraud? EMV cards.

What is an EMV Card?

emv card

EMV card technology is a development in credit and debit cards that includes that little gold chip for increased financial security. EMV technology, which stands for EuroPay, MasterCard, and Visa, is available in both contact and contactless credit cards.

EMV cards have been appearing in the recent years in the United States as well as other nations in the world. Within the next few years, it may be rare to find a credit card without an EMV chip.

Visa Chip Technology EMV Cards

EMV cards are available through a few different carriers around the world. Visa Chip Technology utilizes a rotating token so that each financial transaction is transmitted with a unique, one-time code required by the merchant.

Visa uses a Dynamic Passcode Authentication with their EMV cards to protect your credit card information. Using a code that changes with each transaction rather than an actual card number makes it much more difficult for hackers to track down financial information and create counterfeit cards for fraudulent activity.

Benefits of EMV Cards

emv card

EMV cards, also called smart cards or chip cards, are more secure than the traditional magnetic strip cards. The microprocessor chip protects the cardholder’s data during transactions.

If someone were to steal the physical card itself, you would still need to call your local bank or credit union to stop all activity on the card. The EMV microprocessing chip only protects you from data theft for now. As technology advances, there may be even more solutions available to prevent credit card fraud should your card be stolen.

What EMV Cards Mean for Businesses

There is an upcoming liability shift this year when it comes to in-person credit card fraud. If you own a business and are using a traditional point-of-sale system, you will want to migrate to a system that is more up-to-date and compatible with EMV cards. If a business does not make the migration within this year and credit card fraud takes place at the business, the liability and fraud costs could end up being that business’s responsibility.

EMV Cards at Great Basin Federal Credit Union

At Great Basin Federal Credit Union, we are giving our account holders upgraded EMV credit and debit cards with Visa Chip Technology. Though upgrading to EMV cards is a bit of an undertaking, at Great Basin Federal Credit Union we are committed to protecting your financial information. EMV credit cards are currently being sent out to our cardholders, and we will be distributing EMV debit cards later in the year.

Contact us today to learn more about how Great Basin Federal Credit Union is taking care of their account holders, including the EMV card update!

Apple Pay

apple pay

Your mobile device can do just about anything, but can it be your credit card, too? Great Basin Federal Credit Union debit and credit cards are now compatible with Apple Pay, so your phone can act as your wallet!

About Apple Pay

Apple Pay allows Great Basin Federal Credit Union account holders to make purchases on the go with their mobile Apple devices. Apple Pay is available on iPhone 6 or Apple Watch for in-store purchases and iPhone 6, iPad Air 2 or iPad mini 3 for in-app purchases.

The mobile baking app uses the Passbook app on Apple devices to store the credit or debit card information. Apple Pay has additional convenience because your phone will vibrate and beep when a purchase is registered, so you know the transaction went through.

Where to Use Apple Pay

Apple Pay is a great option for those quick on-the-go moments where you do not have the time to get out your wallet. Already 220,000 different business across the country, from retail stores to restaurants and gas stations, are enabling Apple Pay.

The Apple Pay website provides a list of all of the locations that already accept Apple Pay. Just look for a Pay Wave or Apple Pay sign near the checkout area. The list of locations where you can use Apple Pay will continue to grow in the near future.

Safety of Apple Pay

Great Basin Federal Credit Union account holders who use Apple Pay have an additional luxury of fraud protection. When an account holder uses Apple Pay, the mobile banking app transmits a unique code for each purchase. Apple Pay purchases use a Device Account Number and a transition-specific dynamic security code, so your important financial information is protected.

If an Apple Pay user loses his phone, his credit card information is safe because the card information is not stored on the phone. Apple Pay is protected by TouchID, so anyone who has the phone cannot access your financial information.

Apple mobile device users can use the “Find My Phone” feature and add more security to Apple Pay to ensure the app is not used on the stolen phone. Apple Pay users can choose from added security measures such as require PIN entry for access, disable purchasing ability, or erase all financial information from Passbook.

Mobile Banking at Great Basin Federal Credit Union

Great Basin Federal Credit Union account holders can now add their credit or debit cards to the Passbook app for Apple Pay. Great Basin Federal Credit Union is committed to helping account holders make purchases easily and safely as technology develops.

Great Basin Federal Credit Union also has a mobile banking app for your other banking needs! Pay bills, view your accounts, and more. GBMobile, the Great Basin Federal Credit Union mobile banking app, is available for Android and Apple mobile device users alike.

Make your Great Basin Federal Credit Union debit or credit card your default card on Apple Pay today! For more information or instructions, visit our website. You can also download GBMobile through the iTunes Store and Google Play for your iPhone™, iPad™, iPodⓇ Touch, or Android device!

Find Good Auto Loan Rates

auto loan rates Reno

Buying a car can be a big and exciting decision in your life. When preparing to purchase a car, there are some things to think about to find the right auto loan.

Great Basin Federal Credit Union offers loans for both new and used cars, as well as auto loan refinances, so you can choose a loan for your life’s needs and your budget. We can help you every step of the way, from auto loan pre-approval to auto loan advice and helping you improve your credit.

How to Get Good Auto Loan Rates

auto loan rates Reno

Here are tips and tricks to get the best auto loan rate.

Good auto loan rates are available if you know a few different tips and tricks to prepare yourself. For starters, your best deal on an auto loan rate may not necessarily be at the same place you get the vehicle. Make sure your lender is someone you trust, and remember to keep in mind the total cost of the auto loan over your lifetime.

Finding a good auto loan can be made easier with patience, persistence, research, and some good advice from your Credit Union.

What is an Auto Loan Pre-Approval?

When looking into auto loans and auto loan rates, you may stumble upon the term auto loan pre-approval. Going through the auto loan pre-approval process is a great option because it helps you understand how your finances match your auto purchase.

Going through the pre-approval process allows you to feel empowered when you go to the car lot. You have a better sense of what your real budget’s bottom line is, since the pre-approval helps you understand what your auto loan rate will look like.

Great Basin Federal Credit Union’s auto loan pre-approval lasts for 45 days, so you can take the time to find the car that is right for you and fits your budget!

What To Look For in Auto Loans and Rates

When shopping around for auto loan rates, you will want to find make sure your auto loan and your potential car choice are in the same monetary range. If you are looking for a car and what is a good price to pay for it, Kelley Blue Book is a great resource.

You will also want to take into consideration your timeline for how long you would like your auto loan to be active. A loan term is frequently dependent upon the amount financed, so keep this in mind before you make your financial commitment.

Low Rate Auto Loans

auto loan rates Reno

Get a great auto loan rate at Great Basin Federal Credit Union!

Great Basin Federal Credit Union is currently offering an low auto loan rate of 2.55% APR. This great auto loan rate is available not only to buy new or used cars, but this auto loan rate is also available for anyone interested in moving their current auto loan over to Great Basin Federal Credit Union.

This low auto loan rate offered by Great Basin Federal Credit Union is not only for purchasing new and used vehicles, but it is also used to help people refinance current auto loans. If you currently carry an auto loan with an unmanageable loan rate, we can help.

Contact us to learn more about our limited-time low auto loan rate today!

Great Basin’s Student Loans

Student loan reno

Competitive Rates on Student Loans

With our competitive rates on student loans you will be able to help your child secure their educational future. We offer three different repayment options which allow you to get the tuition you need while obtaining a competitive interest rate. We believe that our student loan options are an ideal solution to help you pay for college expenses that may not be covered by federal loans and scholarships.

Why Should I Obtain My Student Loan From Great Basin?

We understand how expensive it can be to provide your child with the college education they have worked so hard to obtain. Because of this we offer a choice of competitive fixed and variable interest rates which provide you more choice and flexibility when it comes to repaying your student loan.

Are There Any Fees or Penalties?

When you obtain your student loan through us, you will not be charged any loan origination fees and you will not be charged a prepayment penalty.

How Much Can I Borrow?

Great Basin Federal Credit Union allows parents to borrow up to 100% of school certified education costs. There is a minimum loan amount of $1,000.

How Soon Will I Know If My Loan Is Approved?

When you apply for a student loan from Great Basin Federal Credit Union, you will receive a quick decision on the status of your approval. You can complete your application online, and it only takes approximately 15 minutes to apply. As a customer, you will have 24/7 online account management as well.

What Benefits Will I Receive If I Obtain A Student Loan Through Great Basin?

When you obtain your student loan through us, you will be eligible for benefits including rewards and interest rate reductions. Lower interest rates will be offered to clients who have an impressive credit score. When you apply for a student loan with a creditworthy cosigner, you may also qualify for or receive a lower interest rate.

We believe that we have done everything possible to make applying for and repaying a student loan as easy as possible. If you have any questions regarding our student loans, contact us today. We are always eager to speak with you.

Working With Your Home Equity Loan Rate

home equity loan rate reno

Making Home Equity Loan Rates Work for You

Your home is likely your largest asset, which is why it is important for you to take advantage of how it can benefit you. You can use the equity that you have in your home to cover a variety of expenses including college tuition, home improvements, and other major purchases that you may have been putting off. We offer three different types of home equity loans, each with different benefits that can meet your financial needs. To help you understand which type of loan is best suited to your needs, we have listed each of them below.

Home Equity Line of Credit

Great Basin Federal Credit Union offers a very popular Home Equity Line of Credit to our members. With this type of home equity loan, you will be able to borrow from $10,000 to $250,000 in the form of a revolving credit line. With this particular type of loan, you will receive a variable interest rate, but because it is a revolving line of credit, you have the ability to borrow and repay the loan as you wish for a term of ten years. When you reach the ten year point, you will have the option of having your loan re-evaluated and you can then reapply for the loan. With this type of loan, Great Basin Federal Credit Union will not charge you any closing fees and you can easily access your funds online or at our branch. This loan may be the ideal choice for someone who is looking to consolidate debt or fund any upcoming home improvements. As with all of our loans, you will receive the best home equity loan rates available.

Visa Home Equity Line of Credit

This type of home equity loan is similar to the traditional Home Equity Line of Credit loan that we offer. The only difference is that the funds you obtain through this type of loan can be accessed by using a Visa Card. This type of home equity loan may be perfect for someone who plans on making several purchases using their line of credit or for someone who would prefer an alternative to a traditional Visa Credit Card. If you are interested in this type of loan, we will do everything we possibly can to ensure that you receive the best home equity loan rates available.

Fixed Home Equity Loans

With a Fixed Home Equity Loan, you have the ability to borrow from $5,000 to $75,000 for up to 120 months. A Fixed Home Equity Loan provides you with peace of mind in knowing that your home equity loan rate is fixed. There are no up-front closing fees and Great Basin Federal Credit Union can finance up to 80% of Combined Loan to Value. If you would prefer a fixed rate, fixed term, and fixed loan amount we believe that this is the ideal loan for you.