Metco Credit Union
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Fraud Prevention & Security

At Metco Credit Union, protecting your financial information is one of our top priorities. Fraudsters are getting smarter, but with a little awareness, you can stay one step ahead. Here’s what you need to know to protect yourself.

Quick Tips to Avoid Fraud

  • Never share personal info via text, email, or phone — unless you’re absolutely sure who you’re talking to.
  • Don’t click on suspicious links or open unexpected attachments.
  • Use strong, unique passwords and enable multi-factor authentication (MFA) when possible.
  • Check your accounts regularly and report suspicious activity immediately.
  • Keep your devices secure with updated antivirus and operating systems.

If You Think You’ve Been Scammed:

  • Contact us immediately at (319) 398-5007. The sooner we know, the more we can do.
  • Change your passwords on any compromised accounts.
  • Report the scam to the FTC at reportfraud.ftc.gov

Common Scams to Watch For

Fraudsters pretend to be someone you trust — a credit union employee, government agent, or even a family member. They may:

  • Claim your account is compromised and ask for login codes or PINs.
  • Pressure you to move money or buy gift cards.
  • Fake caller ID to appear legit.

Remember: Metco will never call, text or email you asking for your online banking credentials or passwords.

These messages try to trick you into clicking a malicious link or giving away personal info.

Phishing = email fraud

Smishing = text fraud

Red flags to look for:

  • Spelling errors or generic greetings like “Dear customer”
  • Urgent language (“Your account will be closed!”)
  • Links that don’t match legitimate URLs

Scammers often pose as buyers or sellers on sites like Facebook Marketplace or Craigslist. They may:

  • Send fake payment confirmations
  • Ask for advance payments or wire transfers
  • Offer to “overpay” and ask you to refund the extra

Tip: Never send money to someone you haven’t met in person.

These scams often start on dating or social media platforms. The scammer builds trust — then asks for money, cryptocurrency, or personal info.

This scam is becoming more common—and more costly. A scammer may instruct you to withdraw cash and deposit it into a Bitcoin ATM, claiming it’s going into your own account or for a legitimate purpose. In reality, the money goes straight to the scammer and is nearly impossible to recover.

Bottom line: Never deposit cash into a Bitcoin account at someone else’s direction.

If someone tells you to withdraw cash and not tell Metco what it’s for, that’s a major red flag. Scammers rely on secrecy and urgency to avoid detection.

Trust your instincts: Legitimate businesses will never ask you to hide financial transactions.

SIM swapping, or “SIM hijacking,” occurs when fraudsters impersonate you to trick mobile carriers into transferring your phone number to a card they control (p. 1). Once they have your number, they can intercept security codes and take over your financial and social media accounts.

Warning Signs
  • A sudden loss of cell signal or your phone getting stuck in “roaming” mode.
  • Inability to make calls or send texts.
  • Unexpected PIN messages or alerts about changed banking login credentials.
How to Protect Yourself
  • Move Beyond SMS: Use authenticator apps (like Google Authenticator or Authy) or hardware security keys instead of SMS-based two-factor authentication.
  • Lock Your SIM: Enable “SIM lock” features directly through your mobile carrier (e.g., Verizon, AT&T, T-Mobile).
  • Stay Vigilant: Use unique, complex passwords for every account and be wary of phishing attempts aimed at stealing your personal information.

For deeper protection, consider placing a freeze on your credit reports to prevent fraudsters from opening new accounts in your name. To do so, contact each of the three major credit bureaus separately:

  • reMEMBER - help us protect your accounts. Make sure we have your current contact info. Phone, email, address.

Is Your Transaction Safe? Questions to Ask Yourself

If you answer “YES” to any of the following, STOP. Your transaction is considered high-risk and is likely a scam.

Communication & Pressure

  • Have I been told to lie or give a “bogus” reason to Metco staff about why I am making this transaction?
  • Is someone claiming that Metco staff are involved in fraud and telling me not to trust them or explain my transaction?
  • Am I being told I cannot discuss this because of a “court order” or “confidential investigation”?
  • Is there a sudden sense of urgency? Has someone told me this transaction must be completed today?
  • Have I been threatened in any way if I do not complete this transaction?

Digital & Physical Access

  • Have I allowed someone to remotely connect to my computer or phone to “fix a virus” or for any other reason?
  • Have I shared my online banking login with someone so they can “deposit money” for me?
  • Am I being asked to withdraw cash to buy gift cards to pay a bill or fine? (Remember: Gift cards are for gifts, not payments)
  • Am I being asked to ship physical cash hidden inside a magazine or book?
  • Am I being asked to convert my money into cryptocurrency (like Bitcoin) for any reason?

Relationships & Employment

  • Am I sending money to someone I met online but have never actually met face-to-face?
  • Did a “friend” or “family member” message me on social media asking for emergency money, but I haven’t actually spoken to them on the phone to verify it’s them?
  • Is this related to a “Work-from-Home” offer, a “Secret Shopper” job, or an online loan application?
  • Did a buyer send me a check for more than the selling price and is now asking me to send the extra funds back?

Government & Legal Claims

  • Is the IRS or law enforcement calling me to demand immediate payment for unpaid taxes or to avoid arrest?
  • Am I being asked to assist in a “criminal investigation” by sending a wire or withdrawing cash?
  • Did I “win” a lottery or “inherit” money, but I have to pay fees or taxes upfront to receive it?

If You Think You’ve Been Scammed:

  • Contact us immediately at (319) 398-5007. The sooner we know, the more we can do.
  • Change your passwords on any compromised accounts.
  • Report the scam to the FTC at reportfraud.ftc.gov

Stay Informed

Fraudsters are always inventing new tricks. Stay ahead by:

Need Help?

We’re here to support you. If you have questions or concerns about fraud, call us at (319) 398-5007 or stop by our branch. Together, we can keep your accounts secure.

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