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Please stay vigilant and cautious of financial institution impersonation scams, spoofing attempts and other scams whether by mail, phone call, email or text message. Know the Signs.
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Beware of Scams

Beware of Scams featured image

With a rise in the number of scams and scam attempts in our community, GFCU wants to make sure you are aware of the most recent details available regarding these deceptive tactics, as well as how to spot them before you or your family members fall victim to the fraudsters.

This page contains more information on the scams we’re seeing most commonly in our community right now, along with the details you need to know if you should receive any of these calls, messages or notices.

We ask that you remain vigilant in being cautious of these scam attempts, whether through a phone call, email or text message. Know how to identify such communications as fake, and if you’re ever unsure, never respond or reply directly to the questionable communication. Instead, reach out to Generations directly from the contact information on our website at MyGenFCU.org to verify the communication you’ve received is legitimate.

GFCU remains committed to helping our members recognize these and other types of similar scams and the negative financial impact they can have.

  • Generations FCU and other legitimate financial institutions will never call, email or text you to request your personal information, account or card numbers or passwords.
  • Generations FCU will never request that you purchase gift cards for any reason.
  • Do not share personal or account information with anyone, or purchase gift cards, even if the requester states that they are trying to help you avoid fraud.
  • Read more about specific types of scams below to protect your identity, account and card information in person, by phone, online, in the mail and via email.

The Fake Investigation

In this tactic, scammers will call posing as law enforcement. They will claim there is an undercover investigation of GFCU and ask you to withdraw or transfer your cash to a “safe” account.

The Account Takeover

Fraudsters call pretending to be GFCU employees, claiming your debit card has been compromised. They’ll text or email you a link to “reset” your online banking. In reality, that link gives them full control over your account.  

Takeovers can also happen to your cell phone number, your PC and other types of sensitive accounts. Please be vigilant in monitoring your subscriptions and account statements.

Unsolicited third-party mailers targeting Generations FCU members

GFCU has been made aware of a rise in the number of members who are receiving unsolicited postcard-style mailers from a third-party company regarding their mortgage loans. These mailers are NOT affiliated with, sponsored by, or authorized by Generations Community Federal Credit Union.

In many cases, these types of mailers try to make it appear to the recipient that it was sent from their financial institution/mortgage company by putting the institution’s name in a large bold font on the mailer and providing a Mortgage ID number. These notices also tend to create a sense of urgency by asking the recipient to call as soon as possible.

Usually, these solicitations are an attempt to sell things like mortgage protection coverage or to refinance the loan, but could also be an attempt to gain your financial account details.

Please be assured that:

  • These types of mailers do NOT originate from GFCU.
  • GFCU does NOT share member loan information with third-party solicitors.
  • You are NOT required to respond to these kinds of mailers by calling the number they provide.
  • If you are ever in doubt of the origin of one of these mailers, it is best to call GFCU directly using our official contact details found at MyGenFCU.org/Contact.

Example of a third-party solicitation mailer pictured below for reference:

 

 

 

 

 

 

 

 

 

 

Spoofing Attempts

A “spoofing” attempt means that a fraudulent caller makes valid GFCU phone numbers appear on your caller ID to gain your trust. They will then ask you for account information.

The fraudsters are asking members to verify debit card transactions, saying that the current debit card is being closed due to compromise, and that a new one will be issued. These fraudsters then send members a link to reset online banking, gaining control over members’ accounts.

Please DO NOT respond to these requests. If you suspect a fraud attempt, please disconnect the call, then call Generations FCU at 210-229-1128 to report the incident.

Impersonating a Financial Institution

This type of scam attempt occurs when a fraudster calls or emails a potential target and identifies themself as an employee or representative of the individual’s financial institution in an attempt to collect personal and financial account data.

Please keep in mind that Generations’ staff members will NEVER call you to request any personal identifying information from you, such as your social security number, date of birth, card number(s), account number(s) or your online/mobile banking login information. We will never request that you purchase gift cards to prevent fraud.

Generations has the highest levels of security in place to safeguard your information. You can help us with this effort by staying informed.

If at any time you have concerns about the validity of a call or email from GFCU, call us directly at 210-229-1128 to verify the contact was legitimate.

Remote Access Scams

Remote access scams try to convince a potential victim that he or she has a computer or internet problem, and they need to buy new software to fix it. The scammer may ask the potential victim to call a specific phone number, or they may contact the individual pretending to be a staff member of a large tech company such as Microsoft. The caller will request remote access to the victim’s computer after convincing them they need to download software to the device to “solve the problem.” They may even ask the victim for his or her bank account or debit/credit card details.

The scammer might request that the victim download money service apps, such as Cash App or PayPal to send funds to the scammer’s account. Similar scams involve a fraudster calling a potential victim claiming to be with a well-known organization such as Amazon or eBay. They create a sense of urgency to make the victim give them access to their computer.

Mobile Check Deposit Fraud

Mobile check deposit scams involve fraudsters contacting their victims directly through email or social media posing as a potential employer or lender. This contact may also happen as a result of a public job posting on a site such as Craigslist, LinkedIn, Instagram, Facebook, etc. The fraudster gives the victim an opportunity to earn quick money by offering to deposit a check into the victim’s bank account (or they may request the victim’s bank account information, mobile banking login credentials, etc. to conduct the mobile deposit on the victim’s behalf).

The fraudsters use this information to deposit a fake check for services they claim the victim will provide, such as mystery shopping, car wrap decals or to purchase office/computer equipment to do remote work. Once the deposit is made, the scammer will request funds be immediately transferred back to them via money order, gift cards or wire transfer. After the funds have been sent to the scammer, the check is returned, and the funds will be removed from the victim’s account causing a loss to the victim.

Romance Scams

Romance scammers create fake profiles on dating sites and apps or contact their targets through popular social media sites like Instagram and Facebook. The scammers establish a relationship with their targets to build their trust, although never having met the person.

They then make up a story and ask for money. The scammer will often say they are traveling outside the country working in places such as an oil rig or in the military. The scammers typically ask their victims to send them money via wire transfer, external transfers or by gift card.

Here’s how you can protect yourself from fraud:

  • Never provide personal information to anyone requesting it by phone, email or private message on social media.
  • Change your passwords on a regular basis, and do not share your online/mobile banking username or password with anyone.
  • If you ever have doubt or concerns about the legitimacy of a company or financial intuition that contacts you requesting information, reach out to the organization directly using the contact information they provide on their official website or your account statement.