North Alabama credit unions unite to fight scammers
Published 6:30 pm Tuesday, August 14, 2018
- Credit union leaders from North Alabama are joining forces to help protect the public from financial scams. From left are Leslie Stone, chief financial officer, Rocket City Federal Credit Union; Greg Olmsted, president and CEO, North Alabama Educators Credit Union; Kayce Bell, chief development officer, Alabama Credit Union; and Joseph Newberry, president and CEO, Redstone Federal Credit Union.
Credit unions in North Alabama have teamed up to warn its customers about attempts to gain their trust and wipe our their accounts.
Known as caller ID spoofing, scammers have a way of making their phone numbers appear to be legitimate. Scammers have also identified themselves as credit union employees in an attempt to gain personal information, including the three-digit security number on the back of a debit card.
To warn its customers, officials with Redstone Federal Credit Union, Rocket City Federal Credit Union, North Alabama Educators Credit Union and Alabama Credit Union held a joint press conference Monday at the Redstone Federal Credit Union on Wynn Drive in Huntsville.
“Each of our credit unions have been in operation for 50-plus years,” said Greg Olmsted, president of NAECU and president of the Northeast Alabama Chapter of Credit Unions. “Our members trust us. We have built that trust and it is being attacked by these criminals who are falsely claiming to work for our organizations.’’
Joseph Newberry, president of RFCU, said the credit unions are fighting back.
“We are collaborating with several law enforcement agencies to provide them information related to these crimes so the criminals can be arrested and charged,” Newberry said.
If a member is suspicious of the caller, hang up and call the credit union using the number on the back of your credit or debit card. Officials said a financial institution would never call to ask for the 3-digit security code.
Residents who want more information on how to protect themselves from scammers are invited to attend a fraud summit at 3 p.m. Monday, Oct. 1, at The Atrium at Redstone Federal Credit Union’s Wynn Drive location.
Hosted by the credit unions and the Better Business Bureau of North Alabama, the summit will bring together financial institutions, law enforcement, the Federal Trade Commission, Alabama Securities Exchange, among others.