DETROIT–Diversified Members Credit Union here has introduced the new CardNav by CO-OP app, which empowers its debit cardholders to manage their cards by “remote control” from their smartphones or tablets.
“CardNav offers unprecedented, real-time control that adds another level of security to cards by letting cardholders decide how and when their cards can be used, and generating alerts when any types of transactions a member specifies take place,” the credit union said. “CardNav also enables members to set personal spending limits that help them stay within their budget goals.”
According to both organizations, with CardNav, members can identify and stop potential fraud from happening. They can now turn cards on or off in seconds, use GPS to restrict transactions to businesses within a designated area, and limit card use to specific merchants or purchases. And they receive real-time, in-app alerts that let them stop unauthorized purchases before they're complete. Members also can receive alerts when they get close to any personal spending limits they have set, the credit union said.
"We are very excited to be one of the first credit unions locally to offer the CardNav service – and it's free to our membership. It works for smartphones and tablets and what it does is provide our members with an extra layer of security and control, which is becoming so much more important," DMCU CEO Kathie Trembath stated.
The $400-million Diversified Members Credit Union has more than 20,000 members.