May 24, 2022
Federal Trade Commission Consumer Advice
It's financial literacy month:
By Bridget Small
Financial Literacy Month is a good time to talk about earning, managing, and saving your money. Are you searching for a new job, investment, or business opportunity to boost your financial well-being? Learn how to avoid scammers’ sham offers that will cost — not earn — you money. Read More>
Protect Yourself from SCAMMERS
April is Financial Literacy Month, which is often about managing your money and building savings. But this month, we want to talk about protecting what you have, and what you’re building, from scammers.
Scammers are good at what they do. They target people of all backgrounds, ages, and income levels with sophisticated ways to steal your money and personal information.
Follow along with us this month as we cover how to spot and avoid scammers: how scammers ask you to pay them, the signs of a job or money-making scam, and how to check your credit.
- If you’re asked to pay for something with a gift card, that’s a scam. Period. Gift cards are for gifts, not for payments.
- Don’t give your personal or financial information in response to a call, e-mail, or text that you didn’t expect.
- If you’re looking for a job, never pay to get one.
- Resist pressure to act immediately. Scammers want you to pay or give them your personal information before you have time to think.
- Stop and talk with someone you trust. Before you do anything else, tell a friend, a family member, or a neighbor what happened.
For more information on spotting and avoiding scams, visit ftc.gov/scams. And don’t forgot to share what you learn with others during #FinancialLiteracyMonth.
If you spot a scam, report it to the FTC at ReportFraud.ftc.gov. Want information on the latest frauds and scams we’re seeing? Sign up for consumer alerts.
Avoid a flood-damaged used car
FEDERAL TRADE COMMISSION
Automakers are producing fewer new cars right now due to a computer chip shortage, and many people are looking at used cars instead. If you’re shopping for a used car and feeling rushed to buy a car before you can fully check it out — stop! Some used cars may have flood damage.
After a hurricane or flood, storm-damaged cars are sometimes cleaned up and taken out of state for sale. You may not know a car is damaged until you look at it closely. Here are some steps to take when you shop:
Check for signs and smells of flood damage. Is there mud or sand under the seats or dashboard? Is there rust around the doors? Is the carpet loose, stained, or mismatched? Do you smell mold or decay — or an odor of strong cleaning products — in the car or trunk?
Check for a history of flood damage. The National Insurance Crime Bureau’s (NCIB) free database will show if a car was flood-damaged, stolen but not recovered, or otherwise declared as salvaged — but only if the car was insured when it was damaged.
Get a vehicle history report. Start at vehiclehistory.gov to get free information about a vehicle’s title, most recent odometer reading, and condition. For a fee, you can get other reports with additional information, like accident and repair history. The FTC doesn’t endorse any specific services. Learn more at ftc.gov/usedcars.
Get help from an independent mechanic. A mechanic can inspect the car for water damage that can slowly destroy mechanical and electrical systems and cause rust and corrosion.
Report fraud. If you suspect a dealer is knowingly selling a storm-damaged car or a salvaged vehicle as a good-condition used car, contact the NICB. Also tell the FTC at ReportFraud.ftc.gov and your state attorney general.
Memphis City Employees Credit Union is committed to safeguarding the health of our members, staff, and volunteers.
Your health and the health of our staff is our highest priority. During your visit to one of our branches, please do not enter if you are feeling sick or if you have a cough, fever, sore throat, flu-like symptoms or have had contact with a person recently diagnosed or suspected of COVID-19.
Many of our members are choosing to use Online and Mobile Banking and our Member Service Center in place of visiting a branch. Our phone number is 901-321-1200 or toll free 1-877-825-3180. We will be happy to serve you through our Drive Up Windows or with our Electronic Banking Services.
Remember too, that you have free access to almost 30,000 ATMs in the CO-OP Network®. To find the surcharge-free CO-OP ATMs in your area, visit WWW.CO-OPNETWORK.ORG
Some of OUR BRANCHES are OPEN; however, our Whitehaven and Winchester Branches will remain Drive-thru Only.
Avoiding SSA scams
Scammers stay busy trying to take advantage of people. Some scammers pretend to be from the Social Security Administration (SSA) and try to get your Social Security number or your money.
Here's what to know:
- Do not trust caller ID. Scam calls may show up on caller ID as the Social Security Administration and look like the agency’s real number, but it’s not the SSA calling.
- Your Social Security number is not about to be suspended. And your bank accounts are not about to be seized.
- SSA will never call to threaten your benefits or tell you to wire money, send cash, or put money on gift cards. Anyone who tells you to do those things is a scammer. Every time.
- Talk about it. If you’re getting these calls, chances are your friends and family are too. Please talk with them about it.
- People who know about scams are much less likely to fall for them. So by discussing them you are helping protect people you care for and people in your community.
Chat with us!
Our Online Chat Support connects you with the same excellent member service staff that you would speak with, if calling into our Member Service Center.
During business hours, you can chat with us using both Audio and chat options. Simply click on the chat bubble at the bottom right corner of our homepage or the bubble at the bottom of your mobile or online banking pages.
Try it! We are looking forward to chatting with you!
Note: In order for the Chat Bubble Feature to function properly, make sure you are using one of the following browsers:
- Google Chrome
- Microsoft Edge
- Chrome, Firefox for Android
- Mobile Safari for IOS/APPLE
Federal Insurance Coverage
The shares in Memphis City Employees Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF).