Consumer Alert: Fake Credit Union

If it sounds too good to be true, it probably is. With the economy heading into a recession, many individuals are looking for the quickest way to earn a penny—even if that means taking yours. Look out for scam artists offering you a break on your loan or a refinance deal that seems impossible.

In recent weeks, news of a fake Dearborn-based credit union has surfaced. The web site was promising that their mortgage specialists were there to help you buy a home, refinance a mortgage, or consolidate debt. The only problem—there was no credit union! Consumers contacted state regulators to report the activity, and a cease-and-desist order was issued. The web site has since been shut down.

Scam artists are stealing consumer identities by getting Social Security numbers through fraudulent applications, then using your bank account information to access funds, meanwhile opening up credit cards in your name. A common scam being conducted widely is to contact you pretending to be your financial institution and request that you verify your personal information.

Remember that Extra Credit Union will NEVER e-mail or call you seeking account numbers or passwords. Your financial institution already has your information on file and will only ask for it to verify your identity when you initiate a call or e-mail us. If you receive an e-mail asking you to visit a special web site to enter personal information, we urge you not to respond.

Feel free to contact us at (586)276-3000 for any questions.