It’s one of the most common – and costly – frauds we see
It starts with a phone call or text appearing to be from your bank or credit union. The number matches ours. The person sounds professional. They may even know your name or part of your account or card number.
They’ll tell you something urgent: “There’s suspicious activity on your account and we need to verify your information right away.”
That’s when the real danger begins.
How this scam works
- They spoof our phone number. Scammers use technology to fake caller ID, so it looks like the call or text is from Rize Credit Union.
- They sound official. They may use terms like “fraud department”, “security team”, or “account verification”.
- They create panic. You’ll be told your account is in danger and you must act immediately.
- They ask for sensitive info. This includes your PIN, digital banking password, or a one-time passcode sent to your phone.
Once you give them this information, they can access your account and move your money – often within minutes.
Real example we’ve seen
A member received a call from “Rize Credit Union” saying there was an attempted $2,500 withdrawal from their account. The caller ID matched our real number. The scammer asked the member to read back a one-time passcode “to verify their identity”. While instead, that code was actually the key piece of information allowing the scammer to reset the member’s digital banking password. The money was gone before the member even hung up.
How to protect yourself
- Never share login details. We’ll never call or text you asking for your PIN, password, or one-time passcode.
- Ignore suspicious links. Don’t click links in unexpected texts or emails – even if they look legitimate.
- Pause and verify. If you get a suspicious call or text, hang up and call us directly at 800.866.6474.
- Report it immediately. If you think you’ve given information to a scammer, call us right away so we can help secure your account.
Bottom line
Scammers are getting smarter, but together, we can stop them in their tracks. The safest move is simple: If you didn’t start the call, don’t share your information.
We’ll never pressure you to give sensitive information over the phone, by text, or email.
Your password is private – keep it safe!
We’re committed to protecting your account from fraud. Remember, we will NEVER call, email, or text you to ask for your password under any circumstance. If you receive any communication asking for personal information while impersonating the Credit Union, do not respond. Instead, contact us immediately at 800.866.6474.