Wednesday, April 15, 2015

UCU at the forefront of mobile banking!

Yuriy Diakunchak
Director of Marketing
Guess whose mobile app has been top-ranked by Forrester Research in a comparative analysis ? If you guessed it is the mobile app developed by Central1 (the trade association of credit unions in Ontario and BC) and used by Ukrainian Credit Union Limited, then pat yourself on the back! If you haven’t downloaded the app yet then read this article to find out more about it.

Last summer, UCU launched a new mobile banking App that it is available for iOS® and Android® devices. The UCU App is free, convenient, fast, and a safe and secure way for UCU members to handle all their everyday banking needs wherever they are.

As you know, Ukrainian Credit Union Limited is committed to constantly improving and maintaining our infrastructure to ensure the best possible service experience for our members. The UCU App is the latest tool we’ve deployed with the goal of meeting our members’ technology needs and expectations. The UCU App allows members to check their account balances and activity, pay bills, transfer money between accounts, manage scheduled payments, check interest rates, send or receive INTERAC® e-Transfers  find a closest retail location or surcharge free ATM, Contact UCU, Calculators,  and Help. The UCU App is available free to download from the Apple Store or Google Play search for "UCU" or "Ukrainian Credit Union"

For instructions on how to download and install the App, please visit our website In the meantime, I would like to answer a few of the questions you might have.

Is The UCU App free?
Yes. UCU doesn’t charge anything to download The UCU App. Be aware, however, that some phone plans charge for data use. Since the app uses data, your carrier may charge for your data use while you’re using mobile banking. Check with your carrier to confirm the specifics of your plan.

How secure is The UCU App?
The app uses the same level of security as Online Banking. Your Personal Access Code (PAC) prevents unauthorized access and we advise that you do not save your secure passcode details anywhere on your device. "Increased Authentication" is enabled to better protect the privacy and security of your personal information. All information is transmitted via 128-bit encryption technology as it moves from your mobile device to our systems. We also ensure only minimal personal or banking information is saved and secured on your mobile device when using the QuickView and Saved Member Card features. 

My phone has been lost or stolen. Is my banking information at risk?
If your phone should ever go missing, only the QuickView account balances can be viewed if you have activated this feature. If you don’t want people to see your balance, do not turn the feature on. For an explanation of QuickView and how to turn it on or off, please visit our website. Other transactions on your account can only be accessed if someone knows your personal access code. Contact your mobile carrier to have your phone deactivated. And, if you’re concerned about your personal access code for online banking being at risk, contact UCU right away to have it changed.

What other security precautions should I take when using The UCU App?
There are a number of precautions that you should take to help safeguard your personal information and safety while using your iPhone. These include:

  • Reviewing and utilizing the security options available on your phone such as enabling device password protection and disabling your Bluetooth connection when you are not using it. This prevents hackers from taking advantage of that connection. Refer to your phone’s user manual or contact your mobile carrier for more information on these features.
  • Download only trusted applications from reputable sources such as the iTunes App Store or Google Play App store.
  • Download and use Apple's free Find My iPhone® application from the iTunes App Store. It allows you to remotely locate, lock and wipe your iPhone should it get lost or stolen.
  • Avoid online banking while on public networks, since public connections aren’t very secure. Use cellular network instead of public Wi-Fi to do online banking.
  • Never use your phone while driving.
  • Never send sensitive account information (i.e. account numbers, passwords, or any combination of information that can be used to steal your identity) via text message or email.

Will UCU Mobile Banking for smartphones continue to be available?
Yes. UCU Mobile Banking for smartphones continues to be fully operational. You can use UCU Mobile Banking with any Internet-enabled smartphone. Please note to use the App, you must have online banking access.  If you have not signed up for convenient online banking at UCU please visit the nearest location near you to setup your online access.

Can I use The UCU App if I am the co-user of a shared or joint account?
Yes. As with Online Banking at, both you and the member with whom you share the joint account can log into mobile banking using the your login ID and personal access code.

Yuriy Diakunchak
Director of Marketing
Ukrainian Credit Union Limited
416-763-5575 x208

Central1 Competitive Intelligence Update March 10, 2015, pg.1
iOS, iTunes and iPhone are trademarks of Apple Inc., Android is a trademark of Google Inc. registered in the United States and other countries. Apple Inc. and Google Inc. are not sponsors or participants of the UCU App.

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