News & Announcements

This time last year, I was writing about Fraud Awareness Month and shared my hope that scams would begin to decline as I witness firsthand the toll it takes on our community members. Unfortunately, fraud schemes have continued to become more sophisticated—and more costly.

In 2024, Michigan residents reported over $208 million in fraud losses. Nationally, that number soared past $12 billion. And in just the first half of 2025, the Federal Trade Commission reports Michigan already has 30,000 fraud cases, totaling more than $125 million in losses. Across the country, over 1.4 million reports added up to more than $7 billion lost—and that’s only the cases that were reported.

Many victims never come forward, often out of embarrassment or fear of judgment. But reporting matters. Every report helps law enforcement, regulators, and financial institutions like MCCU strengthen protections and prevent others from becoming the next victim.

Fraudsters are expert manipulators. They play on their victim’s emotion, trust, and use urgency to pressure you into acting before you think. That’s why awareness and education are your best defense.

At MCCU, we’re committed to helping our stay informed and secure. Here are three simple steps to stay ahead of scammers:

1. Stop. Pause. Think.

Fraudsters create a sense of panic, so you’ll react quickly. Any time you’re asked to act fast, or the act makes you panic—stop, pause, and think before taking any action.

• Does this request make sense?
• Is there something missing or off?
• Would I normally handle this request this way?

2. Verify Before You Act

When in doubt, verify the source before moving forward.

• Whether a phone call or a text, if someone claims to be from your credit union or another company, hang up and call the number you know. Even if the caller ID says the company’s name.
• If it’s a “family emergency” scam, check with another relative before taking action.
• If anyone tells you what to say or asks you to lie, that’s a major red flag.

3. Report It Right Away

If something doesn’t feel right, trust your instincts. Report it to your financial institution or the Federal Trade Commission. The sooner you speak up, the greater the chance of stopping further loss.

Fraudsters may be experts at what they do, but you can be just as savvy at protecting your own finances. Education is your strongest defense.

Through our partnership with GreenPath Financial Wellness, you have free access to trusted financial education and tools, including the Identity Theft, Fraud, and Scams online courses. It’s a great resource for learning how to spot and stop scammers before they strike. Take the GreenPath Identity Theft, Fraud, and Scams Course.

At MCCU, we’re always here to help. If something feels off, bring it to us—we’ll walk through the situation together so you can move forward safely and confidently. Fraud can happen to anyone—but knowledge gives you the power to fight back. Together, we can protect what matters most: your financial wellness and peace of mind.