19 Nov

4 Ways to Transfer Money Safely

Transfer money safely Cyber crime and financial fraud exist. Unfortunately, as long as money exists, someone is going to try and steal it from you. As a financial institution, we are always trying our best to protect the interests of our members while balancing service convenience. Our recent decision to eliminate open transfers from our service offerings was a difficult one to make. But at the end of the day, our priority is the safety and security of our members and we take that very seriously.

If you are interested in transferring money, here are 4 safe options. If you need help deciding which option is best for your situation, please call (303)458-6660.

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29 Oct

Learn to Recognize Fraud and Protect Yourself

Protect-Yourself-From-Cyber FraudFinancial fraud is always a concern. Cyber criminals continue to create increasingly sophisticated ways to steal from their innocent victims. In this article we aim to explain a few common methods of fraud and offer ways you can protect yourself.

Phishing

Phishing is the criminal attempt to steal your personal information through fraudulent texts, emails, snail mail, phone calls, etc. The criminals often pose as believable organizations, financial institutions, and even employers. They ask victims to provide or verify important pieces of personal information such as bank account numbers, social security numbers, or credit card numbers.

  • How to Protect Yourself – Your organizations do not need you to verify this information because they already have it! Be very wary of institutions that contact you. Before giving any information, ask to contact the institution in question directly to confirm. If this is a real issue, they will have no problem with your hesitation and appreciate your caution.

Texting Frauds

Smart phone texting fraud, also known as smishing, is a relatively new form of fraud made possible by the popularity of smart phones and their access to the Internet. Criminals will send a SMS message to a victim asking for an urgent response. Since people are used to quickly responding to texts, a victim typically does not realize they have been duped until it is too late. Also, websites typically look different on mobile devices which makes validating difficult.

  • How to Protect Yourself – Be vary wary of responding to urgent texts from unknown numbers or texts claiming to be a financial institution. Use the same precautions you would take against phishing and directly contact the institution in question.

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27 Aug

3 Really Good Reasons to Keep Your Account Information Updated

We want you to what?! Call into the credit union and/or log into online banking to make sure all your information is updated! No one has time for that, right? Wrong. Everyone needs to make time to keep his or her accounts updated or it can cost you, big time.

Here are 3 really, really good reasons to review your account information to make sure it is updated.

Update Beneficiaries on RMLEFCU Accounts1. Unexpected Beneficiaries – Do you know who holds the key to your accounts? Former spouses, former friends, former business partners – who from that former life is still listed on all your accounts? Per operational law, the order of ownership on a deceased member’s account is assigned in the following order:

  1. Joint Owner(s)
  2. Beneficiary(s)
  3. Court Appointed Legal Representative

This means whoever you leave your money to in your will may not be the person who gets it.

True Story: A RMLEFCU member opened a savings account in his younger years and had his current wife as the beneficiary on the account. Read More

30 Apr

Keeping Your Money Safe While You Travel.

5 tips for keeping your money safe when you travel.

Keep your money safe while traveling.  RMLEFCUAre you traveling in the near future? Hopefully you have brought your sunscreen, packed your underwear in your carry-on, and put all your toiletries in a see through zip-loc plastic bag. When we travel, we are looking to enjoy our vacation but also protect ourselves from unforeseen circumstances (including body cavity searches from TSA agents.) We usually prepare for the specific trip we are going on by bringing bathing suits, jackets, or hiking boots, but the one thing we must prepare for in almost every trip is money.

I’m not necessarily talking about financing the trip. In this article we assume you have already saved up the money you will need or have taken advantage of our special summer travel promotion loan for $2500 at 5.95% APR* with 12 months to repay (contact us if you are interested in this loan!) We are talking about protecting the money you have for travel and making sure you don’t get stranded! Here are some helpful travel tips to protect your money while on vacation.  Read More