With convenient tools like online banking and mobile apps, credit unions make it easy for members to monitor their account activity – an essential step for early detection of fraudulent activity. Many institutions are also lessening the risks associated with physical card transactions by offering a two-pronged approach to security.
Since most debit cards and check cards are issued in partnership with VISA or MasterCard, the first protective measure consists of security enhancements like chip technology and a Zero Liability policy for fraudulent transactions. When it comes to a secondary protective option, credit unions like Park City Credit Union have started offering financial alerts – push notifications within their mobile app. This allows you to quickly spot any transactions that may be fraudulent.
Avoiding financial fraud doesn’t have to be difficult. Implementing personal precautions and teaming up with a trustworthy credit union are simple, yet effective ways to ensure maximum protection. Even if it requires us to take additional steps and exercise a little more caution than we’re used to, preventing fraud is always easier than recovering from it.
