You have probably seen it in the news lately: an unsuspecting person gets a call, text, or email from a number/address that looks like their financial institution. They are told a large purchase has been made from their account and that in order to address the fraud, they need to give personal information, move money between accounts or even out of their account, and so on. This is a disturbing trend and can leave people with significant financial losses and little recourse to reclaim their funds.

The good news? Knowing the signs, stopping to take a breath and think, and confirming with whom you are speaking, can all help you avoid falling for these scams. Check out the tips below to be better prepared and protect yourself.

Knowing the Signs

  • Requests for Personal Information: Soarion CU will NEVER call, text, or email you to specifically ask for personal information such as one-time passcodes, passwords, usernames, Tax ID, Social Security Number, etc. We value your privacy.
  • Unfamiliar number: It helps to take a moment to check the actual number and/or email address the message is coming from, not just the display name. If the number looks unfamiliar, or the email has a different domain than “@soarion.org,” it’s best to be cautious and not engage with the message.
  • Sense of urgency: Most scams rely on your sense of urgency in the face of potential fraud and losses. Remember: It’s okay to take a moment to verify information. 

What You Can Do

  • Verify: If someone is claiming there is fraud on your account, take a moment to check your account transactions to verify the information.
  • Contact: If there is suspicious activity, hang up and call us back at one of our confirmed numbers. You can find them here.
  • Take a breath: If you are ever on a call that we have initiated, and you wish to verify that you are speaking to Soarion CU, feel free to end the call and call us back at one of our confirmed numbers. Our employees respect your privacy and comfort, and will never protest to you taking extra verification steps. You may ask for the original Member Engagement Advisor you spoke with if you like. 

What you Can Expect from Soarion CU

  • Our team will NEVER ask you to move funds between accounts or out of your account.
  • We will ask questions to determine if transactions are legitimate. This will NEVER require you to divulge sensitive private information.
  • If there is confirmed fraud on the account, we will put a hold on it to protect your funds, and begin the account recovery process.
  • The recovery process may include cancelling and reissuing cards, or, in some cases, closing out the account and establishing a new one.

Being aware of the facts above can help you avoid financial losses and exposure of your sensitive and private information. With diligence and a clear head, you can rest assured in being protected from fraud. If you ever have any questions, please do not hesitate to reach out to us  at (210) 673-5610 or visit one of our financial centers.