NEW! Financial Education

What the Scammers do:

Scams in General

At TCCU, your financial security is top priority. We will never call you and request your account numbers, PIN numbers, or any other sensitive account information. We will never ask you for this information by email or text.

Newest Scams

“Spoofing” Financial Institution Phone Numbers

What it is: Criminals “copy” a bank or credit union phone number so when they call you, the Caller ID displays as your bank.

What happens: The criminal tells you that your account has unusual activity and they are trying to stop it before your money is gone. They have enough information to convince you that they are calling from your credit union. They then ask for your account number and password. At this point, they know how to use the online banking bill pay or transfer features to steal your money fast. They urge you to provide the information quickly, so no more money is lost. Or they suggest that you place all your money into a special holding or vault account until they get it sorted out. They give you the account number, and you transfer the money straight into their account.

What to do: If you answer a call from your financial institution describing unusual activity in your account, Do NOT give out any information. Hang up and call the financial institution. Speak to a member services representative about your encounter. If you have given any account information to the fraudsters, such as login or passwords to online banking, we will immediately work to protect your funds.

Most Common Scams

Sweepstakes and Contests

1. If you receive notice (by mail or email) that you won a contest or sweepstakes you didn't enter, chances are you didn't win anything.
2. Assume it's fraud if you have to pay money to get your prize.
3. If you receive a business check, money order, or a postal money order in the mail and the sender requests that you cash the item and return a portion of the funds to them, it is fraudulent.

If you deposit a fraudulent check and withdraw funds against it, you are responsible for the amount of the check. When you endorse a check, you are guaranteeing that the funds on the check are legitimate. This means that if you cash a fraudulent check, even if you thought it was good, you will have to pay back the money to the credit union.

Phishing

Be aware that there are still many "Phishing" scams in which thieves disguised as reputable financial institutions try to steal your information by asking you to "update" your account information by email. The emails are designed to look authentic by using the company's logo and mimicking its website design.

How can you recognize a Phishing email?

• Look for spelling and grammar errors throughout the email
• The subject line says “urgent” or “action required”
• “Click here” buttons or links to update your account information
• The email address contains a scramble of numbers and letters
• The greeting is overly personal

1. Don't give your account information, PINs, passwords, or social security numbers to anyone.
2. Take extra care when ordering online. Make sure you are ordering from a reputable company from a secure site.
3. If you receive an email from a company you have an association with requesting that your account information be updated, it is best to call the company using a phone number you trust to confirm the request.
4. If you receive an email that appears to be from TCCU requesting your information, please call the Credit Union immediately at 310-618-9111.

Best Practices

1. Keep your virus software up to date.
2. Never log in to a public network without using a Virtual Private Network or VPN.
3. Be careful of links in emails.
4. Make complicated passwords, such as using the first letter of a memorable phrase or song lyric combined with numbers.
5. Only do online business with reputable companies.

Good Old-Fashioned Advice

1. If it seems too good to be true, it probably is.
2. If you have a feeling that something doesn't seem right, take a second look.
3. Save enough money for a rainy day.

At TCCU, your financial security is top priority. We will never request your account numbers, PIN numbers or any other sensitive account information by email. If you have any questions regarding your account or TCCU services, please call us at 310-618-9111 and a member representative will be happy to assist you.

ATM fraud is on the rise. According to FICO, ATM fraud is up 90% since 2023, but there are ways to reduce your risk of being victimized.

SKIMMERS

Criminals steal your account number by using a "skimmer." A skimmer is a device installed on an ATM card insert slot. It may look like an attachment to the ATM but can be ill-fitting, glue-spotted, and a different color than the rest of the ATM. The skimmer reads the card number from the magnetic strip on the back of the card and stores it for the criminal to retrieve later. These devices cannot read the information on an EMV "chip" card. A small camera attached to the ATM, hidden from view, is focused on the keypad, allowing the criminal to capture the PIN of the unsuspecting cardholder. Once this date is collected, the criminal can copy it to a bank card and access your money. If an ATM appears to have an extra piece on it or looks like it has been tampered with, go to another ATM. The good news is Skimmers don't work on chip-based cards; the bad news is criminals have developed new tools called "shimmers" that do.

SHIMMERS

Shimmers are paper-thing devices inserted into ATMs that can read the card number even if it has a chip. Unlike the skimmer, you can't see the device on the outside of the machine. Shimmers can read the numbers on EMV cards, unlike skimmers. These devices are more difficult to avoid because they are undetectable when looking at the ATM. However, there are ways to reduce your risk.

The following is a list of tips that can help protect your data and your money from thieves:

1. Protect Your PIN Code

   Always cover the keypad with your hand when using an ATM. Hidden cameras can be placed anywhere to steal your PIN number. Never use an ATM if someone else is standing near you, and never write your PIN down. Always inspect the ATM and the keypad before using an ATM. Never share your PIN with anybody.




2. Monitor ATM Behavior

   Pay attention to anything that seems unusual about the ATM. If it is unusually slow, freezes, or asks for your PIN twice, it has most likely been tampered with. Try using a different ATM to be on the safe side.




3. Check the Keypad

   Fraudsters can also place an overlay on the keypad that collects your PIN data. If you see anything that looks like an extra piece on the keypad or anywhere else, walk away.




4. Use Well-lit ATMs with Safe Surroundings

   Avoid ATMs that are not bank or credit union-owned. Go during business hours instead of late at night, as theft is less likely. ATMs at tourist spots are notorious for card fraud. Use travel or credit cards when traveling out of town or to tourist spots.




5. Use a Credit Card

   While skimming can happen to anyone, it is more likely to occur on debit card users as it is significantly easier to skim from them. Try using a credit card instead. If your credit card information is compromised, the criminal is not taking all your available cash. Once it is proven that your credit card information is stolen, you are not liable for any debt that might have been incurred in your name while it was compromised.

Best Practices for Everyday Account Security

1. Sign up for account alerts on HomeBanking or Mobile Banking.

   Get alerts on withdrawals, deposits, daily balances, customized alerts, and more! Be aware of your account activity. Get alerts on your Mastercard or ScoreCard, too. Access your TCCU credit card information in HomeBanking by clicking Credit Card Services in the left-hand menu. In Mobile Banking, tap on the "hamburger menu” icon on the bottom right. Tap on "Credit Card Login" and select your card number to access your Mastercard. Tap on the menu and select "Alerts" to set up your notifications.




2. Manage Your Card Online

   TCCU has a free tool called the Card Manager App to help you control, track, and alert you of the activity on your debit card. If your card is missing, you can suspend transactions on the card until it's found. You can also set spending limits, set location rules, view transactions, see merchant types, and monitor card users. Search for Torrance CCU Card Manager at your app provider.




3. Keep Less Cash in Your Account

   Another way to avoid losing large sums is to keep as little cash in your checking account as possible. If your data gets stolen, the thief will only get access to a small amount of money, which can be reimbursed if you promptly notify your financial institution.

At TCCU, your financial security is a top priority. We will never call you and request your account numbers, PIN numbers, authorization codes, or any other sensitive account information. We will never ask you for this information by email or text. TCCU is continually working to keep your accounts safe from fraud. We strongly recommend monitoring your account activity regularly.

If you suspect your card or your account has been compromised, contact the Credit Union Immediately at (310) 618-9111.

What the Scammers do:

First, the scammer sends a text message that appears to be from the Credit Union. The text message looks like a fraud alert.

Next, the scammer calls the member. The phone number on the member's caller ID is "Spoofed" to look like the Credit Union's phone number, and if the member answers, they begin collecting information by pretending to verify fake transactions.

The scammers then request the Authorization Code sent to the member's phone, allowing them full online access to the member's accounts. Scammers then use the member's BillPay, Transfers, and Person-to-Person payments to steal funds.

When we call you and receive your voicemail, we will always leave a message identifying ourselves, the purpose of our call, and the extension of where to reach us. The scammers do not leave messages on member voicemails.

We need to emphasize that the Credit Union will NEVER contact you to request your sensitive information, including:

• Authorization Codes (6-digit Security codes texted or emailed)
• PINs
• Account Numbers
• Usernames
• Passwords
• Social Security Numbers
• Or to share your computer screen.

If you receive a call from the credit union, we recommend letting it go to voicemail and then calling us back. If you receive a call from someone claiming to be from TCCU and asking for sensitive information, please hang up and contact the Credit Union immediately to verify the call's authenticity. Please be vigilant in monitoring your accounts and report any suspicious transactions to us immediately.

At TCCU, your account security is our top priority. If you have any questions about your account, please do not hesitate to call us at 310-618-9111. Our dedicated member representatives will be happy to assist you.

We are happy to announce our new Financial Education Page You will find more tips on how to protect yourself from fraud, fun and educational apps and programs for the kids (3 - 13), better ways to manage your accounts, and more! From the homepage, under the “Services” menu, you will find a link to Financial Education. Check it out and tell friend!

Here is an easy outline to help you decide what's best for you, your accounts, and your loved ones.

What is a Beneficiary? A Beneficiary is a person or entity you select to collect the funds in your account or accounts if you pass away. Having a Beneficiary also changes your NCUA account coverage. If you have more than $250,000 in your accounts, placing more than one beneficiary will give you added NCUA coverage.*

How do I add beneficiaries to my account? Request a Beneficiary form from the Credit Union to add or change your beneficiaries.

Does a beneficiary have to be related to me? No. A beneficiary can be anyone you officially name in writing and is on file as a beneficiary at the credit union.

Does a beneficiary have to have a TCCU Credit Union Account? No.

Does a beneficiary have to be related to me? No. A beneficiary can be anyone you officially name in writing and is on file as a beneficiary at the credit union.

Does a beneficiary have to be related to me? No. A beneficiary can be anyone you officially name in writing and is on file as a beneficiary at the credit union.

If I have a beneficiary on my Primary Share Account, are they added to any account I have? No. The beneficiary can only claim the specific account they are named on if you pass away.

Does a beneficiary have access to my account? Not as long as you are alive unless you have named them as a joint owner in writing and on file at the Credit Union.

I only have a few hundred dollars in my account. Do I need to add beneficiaries? It is strongly recommended no matter the amount in your accounts

What if I haven't named any beneficiaries? If you pass away, your next of kin cannot access the funds without providing additional and required documents to the Credit Union.

Can I make my Trust Account my beneficiary? Yes. You can make your Credit Union trust account or your trust account at another financial institution a beneficiary.

Can I have more than one beneficiary on a single account? Yes. The funds in the account would be distributed evenly.

Can I have a minor as a beneficiary? Yes.

Is a Beneficiary the Same as Power of Attorney (POA)? Not at all. POA is a person or entity you have legally selected to act on your behalf if you become incapacitated in some way. A Beneficiary cannot access your accounts unless you pass away. Please refer to your attorney regarding details specific to your situation.

*You can find out more about NCUA coverage on our website at www.TorranceCCU.org. Point to Personal Banking and click on Checking and Savings. There you will find much information on how your accounts are insured.

If you have any questions regarding this Beneficiaries, please call us at (310) 618-9111 or toll-free at 1 (866) 618-9111, or write to us at:

Torrance Community Credit Union P.O. Box 4327 Torrance, CA 90510-4327

Introducing Convenient and Enhanced Security for Your HomeBanking and Mobile Banking Experience

We're excited to share that your digital banking experience with us is now more user-friendly and secure than ever! Our recent updates to HomeBanking and Mobile Banking offer convenience at your fingertips alongside strengthened security measures.

With our latest update, you can now conveniently update your contact information directly in Mobile Banking. No more filling out forms or visiting the branch. This feature allows you to change your address, phone number, and email with just a few taps on your device.

Swift Device Authorization via Text and Email

Your security is our top priority. When authorizing a new device for persistent use or opting for a one-time login, you'll instantly receive an Authorization Code right to your text messages and email. It's simple, secure, and efficient.

Mandatory Authorization Codes for Contact Info Changes

To further protect your personal information, we've implemented mandatory authorization codes when updating your contact details. You'll receive a code by email and text, empowering you to manage changes confidently and to act promptly if you receive a notification for an update you didn't initiate.

“My First Nest Egg” New Healthy Habits for Your Kids!

As TCCU continues to focus on financial literacy, we're excited to introduce a game-changing new feature for our younger members—My First Nest Egg app—a digital companion for your child's financial journey!

What You'll Get:

• A gamified experience with an egg that hatches into your chosen emoji!
• An engaging credit score game to instill financial responsibility.
• Lots of puzzles to build healthy money management skills.

We believe in starting healthy financial habits early, and our app is the perfect tool to make learning about money enjoyable for kids. Here's a glimpse of what your child can explore:

• A digital piggy bank for easy savings.
• Financial lessons and quizzes based on national standards.
• Fun chore and allowance games.

Exclusive Offer for You:

To kick off the year, we're offering you a FREE subscription, courtesy of Torrance Community Credit Union—a $40/yr value! Simply use code MyTCCU$ to get started.

Unlock the New My First Nest Egg Experience Torrance - My First Nest Egg

Empower your child with essential financial skills in a fun and interactive way. Let's make 2024 a year of financial growth and success for your family! https://myfirstnestegg.com/torranceccu/

TCCU is dedicated to financial literacy and is thrilled to announce our collaboration with the Banzai! Financial Literacy Program, which aims to bring dynamic educational resources to Torrance middle schools.

By integrating hands-on learning with practical life scenarios, Banzai! empowers students to navigate financial decisions with confidence. This innovative program transforms the classroom into a hub of financial discovery, enabling young minds to explore the intricacies of budgeting and spending in an educational environment. TCCU's commitment to financial education means we're making these exciting tools completely complimentary for our sponsored schools. The Banzai! tools are available to teachers at the middle schools listed below. Integrate the Banzai! program into your students' curriculum to enhance their learning experience. Jefferson Middle School Calle Mayor Middle School Casimir Middle School J. H. Hull Middle School Madrona Middle School