Recent & Common Financial Scams
Protect your financial and personal information by staying aware and informed. Below is information about a number of recent and common financial scams.
Having an ATM or debit card creates a world of convenience— not just on campus, but anywhere you go. With MSUFCU ATMs in local Quality Dairy stores, around town, and access to your account via 30,000+ ATMs on the CO-OP Network, your account is available virtually everywhere you go.
However, with convenience, awareness and safety become necessary. Protect yourself and your money by avoiding scams that involve selling or providing your card information and PIN (Personal Identification Number). While you may think you are helping out another person, you may become involved in a scam that will negatively affect your financial well-being.
Selling your ATM or Visa Debit Card and PIN is a crime. If a PIN is knowingly compromised, the account holder (not the “card buyer”) is responsible for any wrongdoing in the account.
Here are some helpful hints to protect your personal and financial information.
- Guard Your Card. Treat your card like cash or checks— it is a valuable key to your account!
- Protect Your PIN. Memorize your PIN and do not write it on your card, share or sell it to others. Giving someone your PIN is like giving them full access to your account and money. If someone has your card and PIN, they could potentially withdraw funds at any time.
- Be Aware. If you feel suspicious about a situation, trust your gut and do not proceed. If it sounds too good to be true, it probably is.We also encourage you to contact MSUFCU if you feel you may have stumbled upon a scam.
- Monitor your account activity in ComputerLine, MoneyLine, or the MSUFCU Mobile app, and be sure to immediately notify MSUFCU of any problems.
Always remember that you are responsible for your account. Never, under any circumstances, should you sell/provide your card information or PIN to anyone else. Don’t do someone a favor by giving away your card/PIN, or depositing a check for someone else. In the end, you are responsible for the activity your account.
Make yourself aware of these safety tips to protect yourself and your money!
There has been a recent increase in fraudulent text messages received by some MSUFCU members. Although these messages have not targeted MSUFCU directly, the institutions mentioned in the messages have included other credit unions based in the Mid-Michigan area. These text messages typically state that the recipient’s account has been closed or locked out and to call a long distance number in order to have it reinstated or unlocked. This message is fraudulent. MSUFCU will never contact you via text message to request account information. If you have given out any account information using the phone number provided with these fraudulent text messages, please contact us immediately.