How to Protect Yourself Against Fraud

Pensive young man in glasses standing in office with phone and worriedly looking at credit card. Problem with transfer, payment for online shopping, fraud, bankruptcy.

The digital world has made life more convenient but has left us vulnerable to identity theft and fraud.  By following some straightforward guidelines, you can safeguard your personal and financial information.

Personal data can be compromised in a variety of ways:

  1. Data breaches
  2. Transactions conducted on an unsecured network
  3. Card skimmers (use Tap and Pay instead)
  4. Scammers witnessing transactions or overhearing conversations

Financial institutions have measures in place to minimize the threat of fraud.  The updated security and enhanced features on Welcome Federal Credit Union’s mobile banking app allow members to set custom alerts and temporarily deactivate cards.

What can you do to reduce the risk of being defrauded?

  1. NEVER give your password to any representative that has contacted you.  Banks and other businesses do not call, text, email, or send letters to verify login credentials or passwords.  If you have received a call, hang up.  Call the number on the back of the card in question, on a statement, or look up the number on the company’s official website.  When you report the incident, the representative will verify if there are any issues with your credentials.
  2. Verify the source of the alert or communication. Whether you receive a call, text, email, or letter, verify the source before approving a transaction or modifying personal information.   DO NOT click on links in an email or text until you know the communication is legitimate.  Look carefully at the email address from which an email originates.  Scammers are adept at spoofing.
  3. Ask questions. Companies have transaction records and retain records of past conversations.  Request general historical details if asked for financial or personal information during a call.   This will often stump a scammer.  Hang up and use a verified number to call the company: they do not initiate contact for this type of information.  If you receive a letter, verify the phone number and email addresses provided.
  4. Stay Mindful. Pay attention to the language in any communication received.  Is it threatening or alarming?  Are there grammatical errors?  Are there generic salutations?  As previously mentioned, do not click on links or open attachments.  Call the company’s verified number before taking action.
  5. Be aware of your surroundings and wifi connections. Telephone devices have been used to hijack boarding passes; they can be used to photograph deposit and withdrawal slips.  Safeguard your information from prying eyes and ears:
    • Have conversations where people cannot overhear
    • Be guarded with keypad transactions
    • Always conduct your online business on a secure network or mobile app.

Scammers will always be out there.  Don’t act hastily.  Always confirm any notifications or requests for information with your provider through verified communication.

Please be advised that the Henderson branch will be closed on Tuesday, July 16, and Wednesday, July 17 and be open from 7:30 - noon on Thursday, July 18, and Friday, July 19.

 Exciting news: your enhanced e-statement will be delivered soon!  

Please be advised of our holiday hours for Independence Day: all WFCU branches will be closed on Thursday, July 4. 

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

Welcome Federal Credit Union will be closed on Monday, September 2 in observance of Labor Day.

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

Welcome Federal Credit Union will be closed on Monday, October 14 in observance of Columbus Day. 

Now is the time to get the best returns on your cash with higher interest rates on your Certificate and Money Market accounts!

Welcome Federal Credit Union will be closed on Monday, November 11 in observance of Veterans Day.

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

Welcome Federal Credit Union will be closed for the Thanksgiving Holiday on November 28 & 29, 2024.

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

As we close out 2024 and think forward to 2025, WFCU would like to wish all of our members and their families a wonderful holiday season and a prosperous New Year! Please be advised of our holiday schedule.

Attention Members: Please be advised the Henderson Branch will be closing at 12:30 today, Friday, May 31st.

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