Consumer Corner

Federal Reserve Bank Launches Web Site for Consumers   learn more

Fraudsters Impersonate Financial Institutions with Caller ID: New fraud method that has surfaced recently, members are called by a fraudster, impersonating your financial institution, and have a way for your institution's phone number to show up on the member’s caller ID.  People have reported that someone called; it showed on their caller ID as the financial institution phone number, then the fraudster proceeded to ask for their social security number and account number.  Never give out personal information to someone you don't know.

Jury Duty Scam: This has been verified by the FBI (their link is also included below). Please pass this on to everyone in your email address book. It is spreading fast so be prepared should you get this call. Most of us take summons for jury duty seriously, but enough people skip out on their civic duty, that a new and ominous kind of scam has surfaced. The caller claims to be a jury coordinator. If you protest that you never received a summons for jury duty, the scammer asks you for your Social Security number and date of birth so he or she can verify the information and cancel the arrest warrant. Give out any of this information and bingo; your identity just got stolen. The scam has been reported so far in 11 states, including Oklahoma, Illinois, and Colorado. This (scam) is particularly insidious because they use intimid ation over the phone to try to bully people into giving information by pretending they're with the court system. The FBI and the federal court system have issued nationwide alerts on their web sites, warning consumers about the fraud. Check it out here: Learn More...  

Don't Get Hooked by a Phishing Attack

If you have Internet access, you may be under attack -- a phishing attack, that is. This high-tech scam involves three components:

• Spoofing is creating a replica of an existing web site.
• Spamming is unsolicited, or "junk" email.
• Phishing is the act of using spoofing and spamming to lure unsuspecting victims, hoping to deceive you into disclosing your Social Security number, credit card and checking account numbers, passwords, or other sensitive information. The Federal Trade Commission recommends the following tips to help you avoid gettting hooked:

1. If you get a pop-up or e-mail message requesting personal or financial information, don’t reply or click on the link in the message. Legitimate companies won’t ask for this information.

2. Be cautious about opening attachments or downloading files from e-mail messages.

3. Never send personal information via e-mail. Look for a closed padlock at the bottom of your browser window, or a URL that begins with “https”--the “s” stands for secure. However, some phishers forge these security icons.

4. Review statements for accuracy as you receive them. If they’re late, call the company to confirm billing address and balance.

5. Use antivirus software and keep it up-to-date. Run a firewall, particularly if you have a broadband connection. Take advantage of free software “patches.”

6. Report suspicious activity to the FTC at www.ftc.gov, and forward suspicious messages to spam@uce.gov.

Credit Unions Still No. 1

It's official: Credit unions have retained their title, for the 17th consecutive time, as financial institution leaders when it comes to customer satisfaction, according to the latest American Banker/Gallup consumer survey. Credit unions have held the top spot over banks and thrifts every year since the satisfaction survey was first conducted in the 1980s. Nearly 75% of consumers surveyed who use a credit union as their primary financial institution said they were "very satisfied." Banks, by contrast, received a 58% "very satisfied" rating. Savings and loans and other thrifts scored 68% in this area.

Credit Union National Association President and CEO Dan Mica cites two reasons: credit unions’ not-for-profit cooperative structure, and "credit union boards and staffs who have maintained the highest level of member service and satisfaction."

The survey of 1,001 U.S. households, was conducted by national telephone poll by the Gallup organization for the American Banker newspaper, an independent trade paper.

The Catholic Family hopes you're as happy as surveyed consumers with service CFFCU provides. Please don't hesitate to let us know how we can serve you better!