Member News & Alerts
Scam Alert – Don’t give out your account or online banking login info!
Scammers often pose as online lenders, employers, and romantic partners. They convince victims to give them their account numbers or online banking login info; claiming it is needed to make a deposit to the account (Ex: to deposit loan proceeds, payment for service, or money they need help sending out to a friend). Sadly, the deposit they make is from a fraudulent source, but before it bounces back, the scammer instructs the victim for one reason or another to use those funds to send out a wire, purchase gift cards and provide the codes, or send the money through a payment system such as Venmo or CashApp. In the end, the fraudulent deposit bounces back, and the victim is on the hook to repay all of the money – including what they already paid out to the scammer.
If any individual or business deposits money to your account, and gives you instructions to send money back out for one reason or another, STOP It is likely a scam! Once you send money to a scammer, there is often little we can do to help you get the money back.
Dear County-City CU Member,
A new proposal under consideration would require financial institutions like ours to report to the Internal Revenue Service (IRS) many activities on accounts with balances over $600. I am writing to bring this serious matter to the attention of our members, as I feel it would be an unprecedented grab of your personal financial data, an invasion of your privacy, and cause for additional concern.
- The proposal would violate personal privacy of consumers like you by forcing financial institutions to provide the government with information that doesn’t reflect your taxable activity.
- The government relies on decades old data systems to store and secure IRS information. These systems have already been compromised in recent years, and the addition of this type of data only increases the likelihood of a future breach of your personal financial information.
- Financial institutions like ours would face a new and expensive regulatory burden.
What We Need from You
I ask you to please consider voicing your objection to this proposal—click on this link to learn more and send an e-mail to your U.S. Representative. The website makes it extremely quick and easy to tell Congress to protect the privacy of your financial records and reject this new IRS reporting provision.
Thank you for helping us defeat this concerning proposal.
Beth A. Krahn