Don't Fall for the Latest Scams

Protecting Your Money and Personal Information

Scammers are constantly inventing new schemes to take advantage of unsuspecting people. At Universal 1 Credit Union (U1), protecting your financial well-being is one of our top priorities. That’s why we provide the tools, knowledge, and resources you need to stay alert and safeguard your hard-earned money.

Below are some of the latest scams making the rounds—and the warning signs that can help you spot and stop them before they cause harm.

The Fake Investigation Scam

Fraudsters may pose as representatives from a bank, tech company (like Apple or PayPal), or even law enforcement. They might claim there’s fraud on your account or that a mistaken transfer needs to be “sent back.”

Be cautious of anyone who:

• Creates urgency by saying your account has been compromised
• Asks you to withdraw cash, use a bitcoin machine, or mail/send payments
• Tells you to lie to credit union staff about why you need funds
• Requests personal information or login credentials
• Sends suspicious links or attachments

Phrases to watch for:

• “We received notification of fraud on your account. Stay on the line for instructions.”
• “We accidentally transferred money into your account. Please wire it back immediately.”

Phishing Scams

Phishing attempts are designed to trick you into giving up sensitive information. These can arrive as emails, texts, or calls.

Red flags include:

• Messages claiming your account will be closed if you don’t act right away
• Links or attachments urging you to “verify” information
• Requests for Social Security numbers, passwords, or other private details

Phrases to watch for:

• “Your account has been compromised. Click here to reset your password.”
• “We need to verify your identity to prevent fraud.”

Health Insurance Scams

Seniors are often targeted with scams related to Medicare or health benefits. Scammers may pose as Medicare representatives and attempt to gather personal details.

Watch out for anyone who:

• Claims you need a new Medicare card and requests your Social Security number
• Charges a fee for “navigating” healthcare benefits
• Pushes unnecessary supplemental policies

Phrases to watch for:

• “You need a new Medicare card. Please provide your Social Security number.”
• “We need a small fee to help you with new coverage options.”

Investment Scams

Fraudulent “investment opportunities” often sound too good to be true—and they are.

Warning signs:

• Unsolicited investment offers
• Promises of guaranteed returns with no risk
• Pressure to act quickly

Phrases to watch for:

• “This opportunity is only available for a limited time—act now.”
• “We guarantee 20% returns every month, risk-free.”

Romance Scams

Scammers often create fake profiles online to form emotional connections, then ask for money once trust is established.

Be cautious of:

• Profiles with little or inconsistent information
• Requests for money or gifts, especially early in communication
• Avoidance of video calls or in-person meetings

Phrases to watch for:

• “I need your help to pay for a medical emergency.”
• “I’m overseas and need money for a plane ticket to come see you.”

Tech Support Scams

These scams involve calls, emails, or pop-ups claiming your device has a virus or security issue.

Look out for:

• Unsolicited tech support contacts
• Requests for remote access to your computer
• Demands for payment to “fix” nonexistent problems

Phrases to watch for:

• “Your computer is infected. Let me remote in to fix it.”
• “Pay $200 to prevent a security breach.”

Grandparent Scams

Scammers often target seniors by pretending to be a grandchild—or someone representing them—in urgent need of money.

Red flags include:

• Requests for money to cover bail, medical bills, or rent
• Urgent pleas to keep the situation secret
• Pressure to wire funds immediately

Phrases to watch for:

• “Grandma, I’m in trouble—please don’t tell mom or dad.”
• “I’m a lawyer representing your grandson. He needs money right away.”

Protecting Yourself and Your Money

At U1, we believe knowledge is your best defense against fraud. If something doesn’t feel right—pause, verify, and don’t give out personal or financial information. Scammers rely on fear and urgency, but you can stop them by staying calm and informed.

Remember: We take online security very seriously here at U1. Protecting your personal information is important to us and we want to make sure you have all the tips to help you prevent identity theft. We will NEVER contact you via phone or email and ask you to verify your account information and we strongly encourage you to add a passcode/passphrase to your account. Visit a U1 office to set up your passcode/passphrase. You should also never give your account information, including credit/debit card PIN and online banking credentials, to anyone. If you have, please contact us for instructions on how to reset your information.For more tips on safeguarding your accounts, explore our Online Security & Fraud Protection page.

Together, we can build a stronger, safer financial community.

Reporting security issues
If you have any questions or concerns about emails, websites or unsolicited calls related to Universal 1, please email our Compliance department at compliance@u1cu.org. You can also call our eServices representatives at 800-543-5000 option 0 or 937-431-3100 option 0.