RCU Response to Heartbleed Bug

There has been a lot of news about the Heartbleed bug over the past week.  Here is what you need to know in a nutshell:

1. The Heartbleed bug did not affect Rocky Credit Union’s online banking site.  Information was properly encrytped at all times on our online banking site.
2. The Heartbleed bug is a bug that affects technology used to protect online accounts for email, instant messaging and e-commerce.
3. The Heartbleed bug has been able to read “encrypted” internet links on many websites for just over 2 years.
4. The type of encryption that the bug was able to crack is called OpenSSL which is used on about 17% of encrypted sites throughout the world, including Facebook, Pinterest, Gmail, and Twitter. 
5. A new release for OpenSSl  has been released, but it is up to the encrypted sites to perform the update.  
6. Because of the prevalence of the use of OpenSSL encryption on so many of the world’s most popular sites, we recommend that members change their passwords for all sites that require you to login and use a password.  If you do not, there is potential for someone to access your information, and possibly to even steal your identity.

This is a major event in the world of cybercrime.  Again, Rocky Credit Union’s online banking site was not affected by the Heartbleed bug, but if you use the same password on our online banking site as well as any others, for the safety of your information we recommend that you change them all.  Jerry

Banking Changes Over 20 Years

The ways that people access and use their money has changed a lot over the past twenty years. 

Twenty years ago the standard way to do financial transactions involved: going into your local branch during banking hours, waiting in a line, doing your deposits, transfers, bill payments, withdrawing your cash, and leaving to do your other business.  Bills were often paid by mailing a cheque, which usually took a few weeks to come out of your account, and if you ever wanted to pay for something without a cheque you had to go back to your branch again to withdraw cash during banking hours.

Today consumers have a variety of ways to do their financial transactions whenever and wherever they want, faster and more accessible than 20 years ago.  Between debit cards, online banking, mobile banking (using cell phones), e-mailing money, and ATMs.

In addition to the convenience and speed of these electronic services, the decrease in cheque usage has resulted in retailers receiving far fewer NSF cheques which saves stores both time and money.  Instead of waiting for cheques to be deposited, and hopefully not bounced, debit machines allow an instant transfer of cash from the purchaser to the retailer.

Safe Online Shopping

I posted the following advice over a year ago, but with so many more people shopping online this year I figured it would be worth re-posting.


Online purchases have grown dramatically over the past decade.  Whether you are looking for auto parts, books or even clothing, you can buy them online.  While many people want to see and touch the items they are buying, more and more feel safe about purchasing their goods over the internet.

 There are security risks, but if you follow the tips below you can have more confidence in your online shopping experience.

1. Make sure your information is being entered on a secure site. 
2. Look for the latest credit card password procedures
3. Know who you are buying from. Use stores you are familiar with or people you know have dealt with.
4. Beware of refurbished items, often a detail buried in small print.
5. Check the store’s return policies before you buy.
6. Use a separate credit card for online shopping, preferably one with a low limit in case the number gets stolen.
7. If the deal sounds too good to be true, it probably is.
8. Online deals can seem great, but what do you do if something goes wrong with the product?  Check out local retailers too as they can often provide faster service than the online merchants.

Christmas is coming, so if you are looking for a specialty item you just can't get nearby, feel free to do some online shopping, but keep safe.  Jerry

7 Tips To Keep Safe While Online Shopping

Online purchases have grown dramatically over the past decade.  Whether you are looking for auto parts, books or even clothing, you can buy them online.  While many people want to see and touch the items they are buying, more and more feel safe about purchasing their goods over the internet.

 There are security risks, but if you follow the tips below you can have more confidence in your online shopping experience.

1. Make sure your information is being entered on a secure site. 
2. Look for the latest credit card password procedures
3. Know who you are buying from. Use stores you are familiar with or people you know have dealt with.. 
4. Beware of refurbished items, usually a detail buried in small print.
5. Check the store’s return policies before you buy.
6. Use a separate credit card for online shopping, preferably one with a low limit in case the number gets stolen.
7. If the deal sounds too good to be true, it probably is.

Christmas is coming, so if you are looking for a specialty item you just can't get nearby, feel free to do some online shopping, but keep safe.  Jerry

Banking Has Changed - A Lot!

While I was growing up in the 1970/80’s, I remember my mom having to run to town (we lived on a farm) very quickly in order to pay a bill at the bank before it closed at 4:00. She did that run maybe 2 or 3 times per month.  She also withdrew some cash for small purchases, but most of our larger purchases, like groceries, were paid for by cheque.  That was the norm for a few decades for families all across Canada.

In the early 1980’s bank/debit cards and ATMs were introduced, allowing Canadians to do withdrawals from their chequing account.  This added a major convenience as consumers no longer had to worry about getting to the bank when it was open for cash withdrawals.  With the addition of deposit services through ATMs, Canadian banking habits started to change, and those habits were no longer centered on banking hours.

7 Tips For Safer Online Shopping

More and more people are doing their Christmas shopping online.  The selection is great, and you can definitely find some good deals, but you want to be careful about how you shop online.  The following are 7 tips to make your online shopping safer:

1. Make sure your information is being entered on a secure site.
2. Look for the latest credit card password procedures
3. Know who you are buying from. Use stores you are familiar with or people you know have dealt with.
4. Beware of refurbished items, usually a detail buried in small print.
5. Check the store’s return policies before you buy.
6. Use a separate credit card for online shopping, preferably one with a low limit in case the number gets stolen.
7. If the deal sounds too good to be true, it probably is.

Online shopping can be a great convenience, and by following the above tips you can have a safer online shopping experience.
Jerry

Text Banking is coming soon

I just wanted everyone to know that we are currently testing our banking system with a very cool new service: Text Banking!  Pretty soon you will be able to get your account balances texted to your cell phone.  You can even get the last 5 transactions sent as well!

We're pretty excited about it.  When you consider our awesome online banking system and combine it with remote (telephone) banking and text banking, I have to say that our members can do their banking from pretty much anywhere.

Keep an eye on this blog or our website for when and how you can sign up.

We're reaching out across the world.  Not bad for a Credit Union based in a small town in Alberta.
Jerrry