RANCHO CUCAMONGA, Calif. (10/30/14)--Bethpage (N.Y.) FCU, with $5.6 billion in assets, will be the first credit union to launch CO-OP Financial Services' CardNav, a new product that allows credit union members to decide when, where and how their credit and debit cards are used, in advance and in real-time.
Using their smartphones, members can turn cards on and off and impose limits on spending, transaction and merchant types, providing for greater security and protection.
CardNav also provides real-time alerts for account balances and notifications of unapproved locations, merchants and transactions.
"We can empower our cardholders by giving them this easy tool at their fingertips to protect their debit card, which can also build loyalty and increase card usage," said Shanta Sewnarain, Bethpage FCU assistant vice president of operations and risk.
According to CO-OP, CardNav helps credit unions: