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October is Cybersecurity Awareness Month

Navigating The Challenges of Managing Money as a Young Adult

As children become young adults and navigating the challenges of managing money and gaining independence, they might not see themselves as potential targets for scams. It's crucial for them to understand these scams and to pass this knowledge on to younger generations. By recognizing these tactics, they can better protect themselves from manipulation.

One of the best defenses in preventing fraud is you knowing the signs of a potential scam and understanding how to safeguard your information. 

Know how to recognize and avoid scams

Here are several common scams targeting children and young adults. Learn how to spot a scam and avoid it.

Social Media Scams  

Scammers will catfish young bankers, pretending to be unknown individuals trying to befriend them with the purpose of stealing their personal information or money. They may also target young bankers by posting fake surveys or contests that can trick them into giving out personal data.  

Tips for young adults: Set social media accounts to private so information and pictures are not easily accessible to scammers.  

 Cellphone Freebies  

Scammers will lure young bankers with “free” wallpapers, ringtones, gift cards or other items to get them to sign up for their services. However, they may try to get payment information for a processing fee or for shipping and handling, which opts them into expensive, hard-to-cancel subscriptions that young bankers don’t realize they’re signing up for.  

Tips for young adults: Avoid opting into free trials that require payment information upfront.  

Online Auctions 

Fraudsters will trick young adults into bidding and paying for items that never arrive. Alternatively, scammers will trick young bankers into sending in their items to sell before they’re sold or without an auction taking place. Once they’ve sent their payment or items, the auction will not take place, and the “representative” of the auction site will disappear.  

Tips for young adults: Research any auction site thoroughly, including reading previous reviews, making sure the site’s contact information is up to date and that you have the appropriate licensing.  

Online Income Scams  

Fraudsters offer jobs working from home for fast and easy money. After a quick hiring process, they’ll send a fake check to the young adult’s home and ask them to send a portion of the check back. Since credit unions are required to make funds available, it may be several days before the fake check bounces. By then, the scammer is long gone, and the young adult is required to pay back the money to the credit union. 

Tips for young adults: Walk away from any job offers that require you send back portions of your check or that ask for any money upfront. 

​Pay it Safe with Zelle

Zelle is a convenient way to send money and request money from friends, family and others you trust. But it’s important to pay it safe! Follow this link to learn more about using Zelle safely

Pay it Safe with Zelle

Protecting Your Account

The safety and security of your personal information and accounts are of the utmost importance to us. In accordance with industry best practices and regulatory requirements, we employ various security protocols and systems designed to shield your personal and account information. 

At E-Central, please know that:

  • We will NEVER call or text you to request an online username, password, or any one-time codes needed to access E-Banking, Mobile Banking, Zelle®, or other digital services.
  • We will NEVER call or text you asking for your account number, debit card number, credit card number, PINs, or social security number.
  • We will NEVER call or text you to ask for your information unsolicited. For example, if you applied for a loan, you might receive a call from a loan officer.
  • We will NEVER ask you to transfer funds via Zelle®.

What You Can do to Protect your Account

  • Ensure your E-Banking and Mobile Banking credentials are unique and different from your member number. Do not use your member number as your username.
  • Ensure your E-Banking and Mobile Banking credentials are unique and different from your member number. Do not use your member number as your username.
  • Change your E-Banking and Mobile Banking usernames and passwords often.
  • Ensure we have an email and cell phone number on file.
  • Activate your Debit and Credit Cards in E-Card Controls. Once enabled, you will receive transactional alerts and have the ability to turn your cards on and off.
  • If you are using Zelle®, it’s important that you know and trust those you send money to. We may contact Members about possible suspicious activities we detect on their accounts, but we will NEVER ask for login credentials or ask you to transfer funds.
  • And, remember we will NEVER ask you for any personal or account information!

If you have any questions or concerns, please contact us at 626.799.6000 or at [email protected].

Everything, everywhere

E-Central Credit Union is a leading credit union located in Pasadena, California, serving Southern California members throughout Los Angeles County including Pasadena, South Pasadena, Alhambra, San Marino, Arcadia, Sierra Madre, Altadena, Temple City, Monrovia and beyond.