The new year brings resolutions and changes, and here at Family Trust, we’ve got a few of our own. Here’s a look at some of the highlights we expect in 2015.
Update for online banking: Online banking users recently noticed a look and added layers of security for online banking.
Safety first: Now you’ll need a one-time PIN before you perform certain transactions or change your profile information online.
More mobile features: Soon you’ll be able to make transfers to other Family Trust members from your smartphone and see pending direct deposits and other transactions.
Online voting for Board of Directors: Members will vote for the board of Directors online or by paper ballot before this year’s Annual Meeting. Members without computer access can request a paper ballot by calling 367-4100 or visiting a branch. The board approved the change so more members can participate in the process. Voting begins in mid-February.
EMV: We expect to issue credit cards with a microchip that will better protect against fraud. Called EMV – Europay MasterCard and Visa – the chip changes transaction information each time a card is used, making it difficult to steal information.
Apple Pay: We’re on the waiting list to provide Apple Pay and hope to offer it later this year. A form of contactless payment, Apply Pay is convenient and provides security. Apple Pay is available on the latest version of Apple’s iPhone.
Back to our roots: We expect to move into our new three-story headquarters on White Street by mid-year. The building will house a variety of departments and features a full-service branch, a community room and artwork commissioned by students from Winthrop University.
Regulations aplenty: Applying for a mortgage likely will take more time because of new requirements outlined by the Real Estate Settlement Procedures Act (RESPA). New procedures, which go into effect Aug. 1, 2015, impact lending institutions, attorneys, closing agents and borrowers. The regulations are designed to provide clearer disclosures and save consumers money.
Rising interest rates: Most believe that the Federal Reserve might begin raising short-term rates by mid-2015, although that could be delayed if inflation remains very low and the labor market doesn’t show continued growth.