Fraud Prevention

Protecting your financial information is a team effort between you and your financial institution.

It's your money. Keep it safe.

Your credit union or bank has multiple systems working behind the scenes to ensure your accounts are protected, and staff are trained to safeguard your financial information as they work. However, they can’t do it without your help. Here are a few ways you can prevent unauthorized access to your money:

  • Protect yourself and loved ones from imposter scams. Fraudsters may call claiming to be someone you know asking for money. If this happens to you, verify the caller’s identity by asking a question only they know the answer to. You can also ask for a callback number, then hang up and call another close relative – or even the supposed caller – to verify the story.
  • Do not send cash through the mail to anyone. Additionally, beware of people that you don’t know very well who ask you to send gift cards or wire money to them.
  • Resist the urge to buy from or sell to unknown parties. A legitimate seller will give you the details about the product, total price, delivery time, and cancellation policies. If you’re not provided with this info, reconsider the sale.
  • Be cautious of promises of easy money. If you are contacted by someone who says you won a sweepstakes for a contest you did not enter and need to pay a processing fee to claim a prize, be skeptical and ask questions.
  • Be wary of online romantic relationships where someone urges you to give them money. It may sound innocent, but the person might be trying to gain access to your accounts or credit cards.
  • Stay safe online. Don’t send financial information via email, be careful when opening links and attachments, and refrain from entering private info on public Wi-Fi.
  • Be vigilant. Review your financial statements monthly and check your accounts often on online/mobile banking. Request free copies of your credit report on annualcreditreport.com and look for incorrect personal information and unfamiliar accounts.
  • Guard your personal information. Account numbers, debit and credit card numbers, PINs, and your social security number should never be shared with anyone unless the contact was initiated by you.

If someone has tried to scam you in any way, contact CoVantage Credit Union and/or your local law enforcement.

CoVantage also offers an identity theft recovery service in the event you have become a victim of identity theft. Please call 855-857-7957 to utilize this service.