Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU Saves Member Thousands, Stops Fraudulent Check
FARMERS BRANCH, Texas (3/14/13)--A Texas credit union office manager's vigilant eye stopped a fraudulent check and helped save a member thousands of dollars in potential losses.

The member received a cashier's check for $6,500 along with a letter informing her that she had been hired for a personal assistant position that would pay her $500 a week for working from home.  The member was instructed to deposit the cashier's check into her personal checking account so she could write personal checks for her new employer, the Texas Credit Union League reported (LoneStar Leaguer March 13). 

The woman made the deposit; however, she was not able to write personal checks for her new employer because she hadn't yet received her checkbook, Wendy McMillian, office manager at Shared Resources CU, Pasadena, Texas, told TCUL.

Although the cashier's check had a watermark, two signatures, a routing number and account number, McMillian noticed some red flags. The number sequence for the account number looked suspicious and there was no remitter on the check.

The credit union put a hold on the check, and, once confirmed, notified the member that the cashier's check was fraudulent.  The member arrived at the branch and showed staff the letter she had received from her "new employer."  The letter included several misspellings, McMillian said.

When the member phoned her "new employer" about the trouble with the cashier's check, he suddenly complained of a bad phone connection.

McMillian said she shared the story with the Texas league in hopes of preventing other unsuspecting credit union members from falling prey to similar scams.
RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
13 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
15 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
17 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
17 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
17 hours ago