Fraud stories are based on real fraud incidents experienced by credit union Members. Names and identifying details have been changed to protect privacy. These stories are based on real-life fraud incidents to help educate Members about common scams and how to avoid becoming a victim.
Southland News
The text that nearly cost a Member $3,500
It started with a text message.
The Member received a text from someone impersonating Southland Credit Union. Believing the messages were legitimate, he continued the conversation.
The person on the other end sounded professional. They used familiar banking language, answered his questions and assured him they were helping protect his account.
Then the instructions changed.
"Withdraw $3,500 from your account."
They explained it was part of the process to secure his account and that they would provide the next steps once he had the cash.
It wasn't something he'd ever been asked to do before.
But he believed he was communicating with his credit union.
So he drove to one of our branches.
He requested a $3,500 cash withdrawal.
Before completing the transaction, our teller asked a routine question.
"What is the withdrawal for?"
The Member looked down at his phone.
"That's what they told me to do."
He handed the phone to the teller.
Within seconds, the teller recognized the warning signs.
The messages weren't from Southland Credit Union.
A scammer was trying to convince the Member to withdraw his own money before directing him where to send it next.
Fortunately, the transaction stopped there.
Instead of leaving the branch with $3,500 in cash, the Member left with his money still safely in his account.
One simple question changed the outcome.
What to watch for
Scammers don't always ask for your account number or password.
Sometimes they convince you to move your own money.
They sound professional. They build trust. And they create just enough urgency to keep you from stopping to verify what they're asking.
Remember, Southland Credit Union will never ask you to:
Withdraw cash to "protect" your account.
Move money to another account for security reasons.
Share your Digital Banking password or PIN.
If someone claiming to be from Southland asks you to withdraw or move your money, stop before you act.
End the conversation and contact us directly at 800.426.1917.
A few minutes of verification could save you thousands of dollars.