Financial fraud is no longer clumsy spam emails from foreign princes. Today’s scammers use real phone numbers, official-sounding scripts, and urgent language designed to make you act before you think. As your credit union, protecting your money starts with making sure you know exactly how these schemes work and how to stop them cold.
The New Face of Financial Fraud
According to the Federal Trade Commission, Americans lost more than $12.5 billion to fraud in 2024, a 25% increase from 2023. Credit union members are prime targets because scammers know they tend to have long-standing accounts, retirement savings, and high trust in their financial institution.
What makes today’s fraud so dangerous is spoofing, technology that allows a scammer to display your bank or credit union’s real phone number on your caller ID. When you see The District Credit Union pop up on your screen, your guard drops. That is exactly what they count on.
🚨 KNOW THIS RIGHT NOW Caller ID can be faked. Even if the number looks exactly like ours, a caller asking for your PIN, card number, online banking password, or a one-time verification code is not us. Hang up immediately. |
The 4 Most Common Scams Targeting Members Right Now
1. The Fraud Alert Phone Call
A caller claims to be from our fraud department and says they have detected suspicious charges on your account. They ask you to verify your identity by providing your card number, PIN, or a code texted to your phone. Once they have it, your account is compromised.
2. Smishing (Fake Text Messages)
You receive a text claiming your account has been locked or a suspicious transaction has occurred. It includes a link to a fake login page designed to look exactly like our website. The FTC tracks smishing in real time and updates its scam alerts weekly.
3. Email Phishing
Fraudulent emails that mirror real communications from us, often with logos, formatting, and language that looks legitimate. Links redirect to fake sites or download malware onto your device.
4. Impersonation of a Family Member or Authority
A caller claims your grandchild is in trouble and needs bail money, or impersonates the IRS, Social Security, or even law enforcement. They direct victims to wire funds or purchase gift cards, then vanish.
⚠️ THE #1 TACTIC SCAMMERS USE: URGENCY “Your account will be closed in 10 minutes.” “This is your final warning.” “Act now or face legal action.” Real financial institutions give you time. Pressure is always a red flag. The CISA Cybersecurity Advisory confirms urgency is the #1 manipulation tactic used in phishing and financial fraud. |
What The District Credit Union Will and Will Not Do
“We will never call, text, or email you to ask for your PIN, password, card number, or a one-time verification code. Ever.”
— The District Credit Union, Member Security Policy
- We may contact you to confirm a suspicious transaction, but we will never ask for your full card number or PIN to do so.
- We may send you alerts or notifications, but we will never include a login link in a text or email asking for credentials.
- We will ask for basic identity verification like the last four digits of your Social Security number or your date of birth, but never your full SSN in an unsolicited call.
- We will NEVER call and ask for your online banking password.
- We will NEVER ask for a verification code that was just texted to you.
- We will NEVER direct you to purchase gift cards or wire money to protect your account.
- We will NEVER pressure you to act immediately without giving you time to verify.
If Something Feels Off, Here Is Exactly What To Do
Step 1: Stop. Do Not Engage.
Do not confirm personal details, do not press buttons, and do not follow instructions from a caller who makes you feel rushed or scared.
Step 2: Hang Up Immediately
Even if the caller sounds legitimate. You can always call back. Real organizations will never mind if you verify independently first.
Step 3: Call Us Directly
Use the number on the back of your card or on our official website — not a number provided in the suspicious call, text, or email.
Step 4: Report It
Let us know so we can alert other members. You can also report to the FTC at ReportFraud.ftc.gov or your Colorado Attorney General’s office.
Use These Tools to Protect Your Account Today
Do not just be aware, be protected. The District Credit Union offers security tools that put control directly in your hands.
Card Nav
Control exactly when, where, and how your debit or credit card is used. Turn it off when not in use, set spending limits, and get real-time alerts on every transaction. If a scammer tries to use your card, you will know instantly.
Account Security Code
Add an extra layer of protection by setting a unique verbal security code on your account. When you call us, we will ask for it before sharing any account information with anyone claiming to be you.
Log into your online banking, visit a branch, or call our direct member service line to activate Card Nav and add a security code to your account. It takes less than 5 minutes and dramatically increases your protection against unauthorized access. Call us: 303.360.0987 | districtcreditunion.com |
PRO TIP: Set Up Both TodayResources and Authoritative Sources
We stay current on fraud trends by monitoring advisories from these trusted national sources:
- NCUA (National Credit Union Administration): ncua.gov/consumers — Official fraud alerts and consumer protection bulletins for credit union members.
- America’s Credit Unions: americascreditunions.org — Industry news, security resources, and member advocacy updates.
- Federal Trade Commission (FTC): consumer.ftc.gov/scam-alerts — Weekly scam alerts updated in real time.
- CISA (Cybersecurity and Infrastructure Security Agency): cisa.gov — Federal cybersecurity tips for everyday consumers.
- GoWest Credit Union Association: gowestassociation.org — Regional credit union compliance and member protection updates.
- FTC Consumer Sentinel Network Report 2024: ftc.gov/reports/consumer-sentinel-network — Source: $12.5B fraud loss data, 25% increase YoY.
- Report Fraud: ReportFraud.ftc.gov
- Colorado AG Consumer Complaint Portal: coag.gov/file-complaint
WHEN IN DOUBT, CALL US DIRECTLY If you receive any suspicious call, text, or email claiming to be from The District Credit Union, hang up, ignore it, or delete it. Then call us directly using the number on the back of your card or visit our official website. Your security is our top priority, and our team is always here to help you verify anything that does not feel right. 751 Chambers Road, Aurora, CO 80011 | 303.360.0987 | districtcreditunion.com |