Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
5 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
1 day ago