October is Cyber Security Awareness Month, a time dedicated to promoting safer online habits and protecting yourself against cyber threats. In an era where more financial transactions are conducted online than ever before, cyber security is essential to ensuring the safety of your assets, your identity, and your financial future. Whether you’re using online banking or are a member of The Family Credit Union, understanding the relationship between cyber security and your online financial activities is crucial.

The Importance of Cyber Security in Online Banking

Online banking offers convenience and flexibility, allowing you to manage your accounts, transfer funds, and even apply for loans from your home or on-the-go. However, with this convenience comes the responsibility to protect yourself against cyber threats such as identity theft, phishing scams, and data breaches.

Cyber criminals constantly evolve their tactics, seeking vulnerabilities to exploit sensitive information. According to the FBI’s Internet Crime Complaint Center (IC3), financial losses due to cybercrime have been steadily increasing year over year. That’s why strong cyber security practices are essential to safeguarding your digital financial life.

Why Credit Union Members Need to Stay Vigilant

Members of credit unions, like you, our valued members, benefit from community-oriented service and a focus on personalized financial well-being. But this also means that cyber criminals see credit union members as valuable targets due to their connection to trusted, often smaller, financial institutions.

At The Family Credit Union, we prioritize member education on security, but each individual must take proactive steps to ensure your own online safety. Here’s what you need to know:

• Phishing and Spoofing Scams: Phishing scams trick individuals into revealing sensitive information like account numbers and passwords by pretending to be a legitimate entity. Look for signs such as unfamiliar email addresses, urgent language, or suspicious links. Never provide personal information unless you are certain of the recipient’s identity.
• Social Engineering: Cyber criminals may pose as family members or credit union employees, asking for verification of your login details. Always double-check the source of such requests and avoid sharing sensitive data over the phone or through unsecured email.
• Account Takeovers: Account takeover attacks occur when a criminal gains unauthorized access to your account, often through weak passwords or unprotected devices. Once in, they can transfer funds, change your account information, and potentially steal your identity.

Best Practices for Staying Safe While Banking Online

To ensure your finances are protected, consider adopting these cyber security tips:

• Use Strong, Unique Passwords: A strong password includes a mix of upper and lower case letters, numbers, and special characters. Avoid using easily guessable information such as birthdays or family names. Additionally, create unique passwords for each account to minimize damage in case of a breach.
• Enable Two-Factor Authentication (2FA): Two-factor authentication adds an extra layer of security by requiring a second form of verification, such as a code sent to your phone, in addition to your password.
• Regularly Monitor Your Accounts: Keep an eye on your accounts for any unauthorized transactions. Report suspicious activity to The Family Credit Union immediately.
• Update Software and Devices: Cyber criminals often exploit outdated software. Keep your banking app, operating systems, and antivirus software up-to-date to protect against the latest threats.
• Use Secure Networks: Avoid logging into your online banking account over public Wi-Fi, which can be vulnerable to interception. If you must access your account remotely, use a VPN (Virtual Private Network) for added security.

How The Family Credit Union Keeps You Safe

At The Family Credit Union, we are committed to protecting our members’ financial information. Our online banking platform uses advanced encryption methods and secure log-in processes to keep your data safe. Additionally, we provide educational resources to help our members understand potential threats and adopt best practices for online security.

If you’re ever unsure about a suspicious email, call, or transaction, reach out to us directly to verify its authenticity. We’re here to support your financial well-being, both in person and online.

Take Action: Stay Safe This Cyber Security Awareness Month

This October, take a moment to evaluate your own cyber security habits. Small changes can have a big impact on keeping your finances secure. Whether you’re banking online, using mobile apps, or managing your investments, remember that staying informed and vigilant is your best defense against cyber threats.

For more information on how to protect yourself or to learn more about The Family Credit Union’s security measures, contact us today.

Are you tired of stacks of paper piling up from your bank, credit card, or loan statements? At The Family Credit Union (TFCU) in the Quad Cities, switching to e-Statements makes managing your accounts easier, safer, and more convenient—all while reducing clutter in your home.

Discover the Benefits of Enrolling in e-Statements

1) Access Anytime, Anywhere

With e-Statements, you can view all your accounts in one secure location, 24/7. Check balances, monitor transactions, and quickly spot any unusual activity without waiting for the mail.

2) Instant Availability

With traditional statements, you need to wait for the statement to be printed, stuffed into an envelope, go through the postal system and eventually make its way to your door. With e-statements, you receive an email at the end of the statement period that your account statement is ready to view. You can then log into your account and have immediate – and secure – access to your statement.

3) Enhanced Security

Your bank statements are full of sensitive financial and personal information. YOUR financial and personal information. When you switch to e-Statements, you are reducing the risk that your personal information will inadvertently fall into the wrong hands. E-statements help reduce your exposure to identity theft through your paper documents.

4) Eco-Friendly Choice

Switching to e-Statements is a simple way to be more Earth friendly – from the reduction in the amount of paper that is used (the statement and also the envelopes!) to the amount of resources it takes to deliver that paper to your door.

5) Declutter

Using less paper is also better for your immediate home environment.  Clutter happens.  But it doesn’t have to!  You may have a stack of “important mail” that stacks up and becomes unmanageable.  When you sign up for e-statements, you don’t have to worry about misplacing your statement.  Your statement history is archived securely.  It is available for you whenever and wherever you are. 

Ready to Make the Switch?

TFCU members in the Quad Cities and surrounding areas can start enjoying the convenience, security, and environmental benefits of e-Statements right now. Log in to your account to enroll—it’s quick, easy, and better for you and the planet!

The FTC launched ReportFraud.ftc.gov, a website that makes it easy for people to report fraud, scams, and bad business practices. Over the last couple years, fraud and scams have been on the rise due to COVID, so it could not have come at a better time. Help your community; report and stop scams.

If you get calls, emails, or mail about:

• “Free vacations”
• “Miracle” cures
• Your Social Security number
• Buying gift cards
• and more!

Common types of fraud that you may encounter include:

• Mail fraud
• Credit and debit card fraud
• Social Security fraud
• Voter fraud
• Elder fraud
• Stolen tax refunds
• Drivers license fraud
• and more!

Take a second and look up if this could be a scam. You may also add your phone number to the official “Do Not Call” Registry here: www.donotcall.gov. Do not send money to people you don’t know. Do not give out your Social Security number to people you don’t know. If you are called and suspect a scam, hang up. If you suspect that the call, email, or mail could be a scam or fraud, report it. Contact us if you believe your accounts have been compromised. It will help protect you and your community!

It’s a fact of life now that you have to work hard to protect your identity. There are too many people out there trying to use your identity to steal your money, credit, and reputation. Here are some helpful tips you can use to protect yourself from identity theft.

What Do Scammers Steal?

Tax ID theft occurs when people try to file a tax return under false credentials. The Internal Revenue Service is working hard to crack down on this. If they find a federal tax return that seems to duplicate your name or social security number, they will stop processing the return and send a letter to your home. It is up to you to follow the directions in the letter and verify your identity. You can get more information about this process from the IRS here.

Medical ID theft is commonly used to gain medical service or to issue fake bills to your insurance. They may also use your identity to buy prescription drugs illegally. This can cause problems for you and damage your credit. In addition, if the wrong information ends up in your personal medical records, it could cause a medical emergency for you.

Social ID theft is a growing problem with more and more people using social media and online transactions. In this case, the thief will use your personal information, including your name and image to create a fake social media account. They will use this account to scam people that know and trust you or open other fake accounts.

Protect Yourself and Prevent Identity Theft

There are a few steps you can take to prevent identity theft.

Paper Trails

Make sure that old receipts, account statement, expired debit or credit cards, and other sensitive pieces of information are shredded. People will go through the garbage to find this information. Make sure your Social Security Number is protected. Don’t carry it with you and don’t give it out unless it is necessary.

If you usually receive a paper bill and it is late, contact the company sending the bill. Someone may have stolen the mail to get your information. On a related note, don’t let your mail pile up and if you are going to be out of town, have the Post Office hold your mail.

Computer Hackers

Protecting yourself online can seem to be a daunting task, but you don’t have to be a computer genius to set up some guards. Make sure that you have anti-virus software installed on your computer. A couple of popular and effective ones include Avast and Symantec, but just about any antivirus is better than having nothing!

Other things you can do to protect yourself online is to make sure your passwords aren’t easy to figure out like “password1” or the name of your dog. If a company that you have an account with is hacked, change your passwords. Also, don’t give your information freely. Hackers can use answers to questions that seem innocent like your mother’s maiden name, birth dates, old teachers’ names, and so on to answer security questions on your accounts.

Protect Yourself at ATMs

You’ve probably seen or heard the news stories about “skimmers” being found on ATMs and gas pumps. What can you do to protect yourself against this growing method of stealing data? A skimmer is a device that can steal the information on the magnetic strip on the debit or credit card. With your PIN number and that data, they can use your account information for their own gain.

The most common method of skimming involves two devices: one captures your PIN and the second gets the data on your card. They can sit nearby with a laptop and get your information as you enter it. Here are some tips to keep your data and your money safe:

Here are some tips to keep your data and your money safe:

1. Hide your PIN. If you cover the pad as you enter the numbers, the thieves won’t be able to steal the digits and get into your account.

2. Check your balances. You usually only have a two-day window to report a fraudulent transaction, after 60 days, you may have no recourse. You can come into your favorite Family Credit Union branch and ask about setting up alerts.

3. Use ATMs at Branch Locations. We know how convenient it is to use an ATM at a restaurant or gas station, but you really should avoid it. Those are easy to access for thieves and usually don’t have video surveillance. Using an ATM like the ones at The Family Credit Union lower the risk for a skimmer being used.

4. Trust your gut. If something doesn’t look or feel right, go to another ATM. You may think that an ATM looks “off” or it doesn’t feel right when you insert card. Keep an eye out for people looking over your shoulder or if they just seem out of place. Nothing says you have to use that ATM, so go somewhere that feels safer or wait for your financial institution to open.

It’s Your Money and Identity, Keep It Safe

You’ve worked hard for your money and reputation, don’t let a scam artist steal what is yours. Protect your identity and finances with common sense and safeguards. Feel free to stop in and talk with us about other ways you can protect yourself with the help of The Family Credit Union!