A QUARTERLY NEWSLETTER FOR ACCLAIM FEDERAL CREDIT UNION MEMBERS
THE
PERMANENT
PRESS
spring 2019
The Financial Bridge Linking our Members to their Goals
the debit card issue
We have multiple enhancements coming this month!
Now you can carry your Acclaim FCU debit card in your wallet, without even bringing your wallet along. We have joined the list of institutions participating in the highly anticipated Apple Pay service. And that means your transactions can be simpler, more secure and more private than ever.
Apple Pay will be available mid-April on iPhone® 6, iPhone 6 Plus, iPhone 7, and iPhone 7 Plus devices, and it’s free to use, apart from any message or data rates specified in your wireless plan. Once you’ve entered your cards into your phone’s Wallet app, you’ll be able to make purchases at thousands of merchant locations. Apple Pay also lets you use your iPad Air® and iPad Mini™ 3 for online-only shopping within certain apps.
Apple Pay’s advanced technology works behind the scenes to make your purchases more secure than ever before. In participating stores, you just hold your phone near the merchant’s contactless reader, with your finger on the Touch ID sensor. That’s it. Not only do your name and card number remain anonymous to cashiers and bystanders, but your phone itself carries only a unique, encrypted Device Account Number rather than your actual debit or credit card numbers.
How easy is it to get started with Apple Pay? Just open your Wallet app, swipe down and tap the plus sign. Then enter your card by snapping a photo with your device’s iSight® camera, or adding the data manually. If you already have a card in iTunes, you’ll be prompted to add it to your Wallet. Start shopping with greater ease and confidence today.
If you’re using an Android™ mobile device, there’s now a way to make shopping with your Acclaim FCU cards easier than ever. Google Pay™ lets you seamlessly tap and pay with your device within apps, and at more than one million stores in the U.S. – with more locations being added every day.
To use Google Pay in a store, simply unlock your mobile device, hold it near the contactless terminal, and your payment will be complete. A notification with a receipt showing transaction details will arrive shortly afterwards.
Google Pay makes shopping more secure because it doesn’t send your actual credit or debit card number with your payment. Instead, it uses a digital account number that keeps your card details safe.
You’re also protected if you happen to lose your device. Log into the online Android Device Manager and you’ll be able to instantly lock your phone or tablet from anywhere. Android Device Manager lets you secure it with a new password or wipe it clean of all your personal information as well.
Google Pay works with all devices using Android 4.4 (KitKat) or higher, and which support NFC (Near Field Communication) and HCE (Host Card Emulation). Adding your cards to the app is easy. If your device doesn’t already have Google Pay installed, free downloads are available at Google Play™, or click here.
Are you baffled by Bitcoin? We’ve got all the info you need on this trending crypto-currency!
What is Bitcoin?
Bitcoin is the internet’s money. The U.S. has dollars, Europe has Euros and the internet has bitcoin. The most fascinating aspect of bitcoin is that it’s decentralized: no single nation, bank or institution controls it. Instead, the bitcoin currency is administered and propagated by bitcoin users.
How does Bitcoin work?
Bitcoin works much like a regular currency. You can buy and sell bitcoins digitally and you can use them to make “real life” purchases. You can invest with bitcoins, exchange your bitcoins for other forms of currency and transfer bitcoins from one account to another.
Need more bitcoins? No need to earn them! You can create them yourself through a process called mining. This is how all new bitcoins are made.
Of course, mining isn’t that easy or we’d all be getting rich on bitcoins. To mine new bitcoins, “miners” must solve complex mathematical problems, which validate other bitcoin transactions within the bitcoin network. For every “block” of transactions successfully validated, the miner is rewarded with new bitcoins.
This system of peer-validation makes bitcoin super-secure and allows for peer-to-peer value transferring.
How Can I Earn Bitcoins?
There are several ways to gain a footing in the bitcoin market.
The first of these, as detailed above, is through mining. You’ll have to invest in specialized computers and solve complicated math problems, but you can earn 12.5 bitcoins per “block” mined.
You can also get bitcoins by working for them. You’ll find lots of job postings that pay in bitcoins on the internet.
Do I Have to Pay Taxes on Bitcoin Earnings?
The IRS views your bitcoins as property, so every transaction you make within the bitcoin network will impact your capital. Also, if you are paid in any cryptocurrency, this income will be taxed.
If you use bitcoins frequently, check with your accountant. Keep accurate records of your transactions so you can report your bitcoin income. It must be recorded in U.S. dollars at the exchange rate it was valued for at the time of the transaction.
Now that your bitcoin bafflement has been cleared, you can get in on the currency of the future!
Earn Cash Back with Love to Shop
Love to Shop is a fun and easy way for Acclaim members to earn cash back when you shop online at over 1,500 of your favorite stores. Every time you earn $15 or more in cash back from your purchases, you’ll receive a check with the cash back you earned!
Shop using your credit union credit card and save even more money with the great low rates!
To learn more about Love to Shop or to register for free, visit LoveMyCreditUnion.org.
CLOSINGS:
May 27 - Memorial Day
Address: P.O. Box 29527
Greensboro, NC 27429
Telephone: 336.332.5302
Toll-Free: 888.794.1001
Email: Admin@AcclaimFCU.org
Lost/Stolen Credit Card: 800.808.7230
Lost/Stolen Debit Card: 888.241.2510
Admin Fax: 336.332.4103
Loan Fax: 336.332.5965
Mbr Service Fax: 336.332.5965
