At Credit Union of America, we're committed to keeping you informed about the latest scams. Unfortunately, there has been a rise in fraudulent activities designed to exploit your trust and compromise your financial security. Here are some of the scams we want you to be aware of:

Authorized Push Payment (APP) Scams

In these scams, fraudsters contact you via phone or text and deceive you into sending payments through cash transfer apps like Zelle, Venmo, or Cashapp to bank accounts they control. If anyone pressures you to send money to someone you don’t know using these apps, it's a major red flag. Remember, always verify the legitimacy of the request before sending any funds, and if in doubt, disconnect the call immediately.

E-mail Compromise

Fraudsters gain access to your email accounts, gather enough information to reset your online banking passwords, and set up external accounts to transfer money. To protect yourself, ensure you reset your email password regularly, and be vigilant for emails from us alerting you to any suspicious account activity. If you notice any unauthorized external accounts, contact us immediately.

Investment Scams

Scammers pose as individuals who claim to have helped one of your family members or friends with investments. They persuade you to invest your own money, sometimes suggesting you withdraw funds from your retirement accounts or take out loans. They may ask you to send cash, cashier’s checks, wires, or use money transfer apps. Remember, never invest money without thorough research and verification, and be cautious of unsolicited investment offers.

Phishing Scams

Phishing scams can involve fraudsters posing as representatives of CUA, alerting you to fraudulent charges on your card. They may have some of your personal information to appear legitimate. Watch out for any requests to log in to online banking or provide full card information over the phone. If something seems suspicious, call us directly to verify.

Your financial security is our top priority. Stay vigilant, stay informed, and remember, we're here to help you navigate through any concerns or questions you may have. If you ever suspect fraudulent activity or have any inquiries, don't hesitate to contact us. Together, we can keep your finances safe and secure.

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