The importance of educating members on fraud alert procedures

“How do I know if it’s the credit union or a scammer?” The importance of educating our members on the fraud alert procedure.

Have you ever received a call from a member asking about a strange text or email they received posing as the credit union? In most cases, there may be a link attached prompting them to sign into their self-service features. How about a member calling to inform you about a concerning text stating a large amount of their funds is pending to be withdrawn?

Most if not all credit unions or financial institutions offer a fraud alert service for their debit cards that alerts members through text regarding, suspicious transactions, recent attempted charges, or excessive transaction attempts due to insufficient funds.

It’s important to educate and prepare members about these types of interactions to minimize the chances of our members’ personal or account information falling into the wrong hands.


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