While there have been scams out there since the beginning of recorded time, the internet and social media have it easier than ever for the bad actors to take advantage of good people.  And it seems like the past few years, we have seen a huge uptick in these online scams and members falling victim.  As your financial institution, and trusted partner, we want to do everything in our power to prevent our members from being taken advantage, and it all starts with education.

We have a dedicated page on our website just dealing with fraud and scams that we urge all members to read. You can always find it under our LEARN tab. We try to update it periodically with new information. That’s a great place to start. But it’s our job to make sure we’re doing our best to protect you.  So, if we see an unusual request, or something out of the ordinary, we are going to perhaps ask questions.  It’s not that we are trying to be intrusive, but it’s our job to be on the lookout for scams and to try and protect you.  It’s especially true, as many of these scams involve cash withdrawals or electronic transfers.  Once those transactions are done, there is nothing we can do to get your money back.  If you are ever in doubt, in the slightest, don’t hesitate to talk to anyone on our staff.  We won’t judge you, or lecture you, or anything of the sort.  We’ll simply listen and do our best to protect you from those bad actors.

Aside from the resources we have, there are a lot of other great resources out there.  AARP, and the CFPB have some great resources on fraud, scams, and elder financial exploitation.  And one recommendation they all make is to have a trusted contact – someone you feel comfortable discussing your finances with.  That could be us, it could be a relative, or a friend, but anyone who you can talk to, to give you that second opinion, or recognize that you may be a victim of fraud.  If in doubt, ask us or that trusted contact. 

Additional Resources:

AARP volunteers can offer:
• Tips on how to spot a scam.
• Concrete steps to avoid fraud.
• Actions to take if you have experienced fraud.
• Emotional support from peers who have experienced fraud.
• Guidance for families concerned that a loved one is being targeted by a scammer.

• Referrals to law enforcement and other agencies that investigate fraud.

Consumer Financial Protection Bureau

Money Smart Guide for Older Adults. The Money Smart for Older Adults program can help older adults, family caregivers, and others prevent, recognize, and report scams, fraud, and financial exploitation.