Software Alert: Exciting news! Online and Mobile Banking has upgraded! We hope you enjoy the new look and user-friendly improvements.

Fraud Alert: Please be aware that fraudulent text messages requesting personal information have been reported and received by both members and non-members in our service areas. Educators Credit Union will never ask for your personal information through an email, text message or an outgoing call to you. DO NOT click on any text message links or provide any personal or financial information.

Avoiding Wire Fraud: Home Settlement Funds

Wire Scam

Follow the tips below to avoid losing your home settlement funds in a wire fraud scam.

  • Never wire funds to anybody or any institution unless you have checked the wire instructions independently with your title company, settlement or closing agent.
  • If you can’t or won’t confirm the information over the phone, most title companies, settlement companies and closing agents post their wire instructions online, so be sure you check their official websites. If they do, you can compare those instructions with the instructions you received.
  • Some agents will confirm the instructions you received over the phone if you give them the information you received. Just make sure you are talking to the right person at the right place.
  • You need to have a good working relationship with your settlement agent to make sure that you know that “trusted” source.
  • The safest way is to go to see the closing or settlement agent in person and then go to the bank to initiate the wire transfer. That way, you have face-to-face information with your trusted source.

Be vigilant when it comes to wire transfers, always verify the information from trusted sources. If you receive an email, text or phone call ensure it’s from a trusted source.

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