Partner with us to help protect you from scams
September 2, 2025
With scams and fraud at an all-time high, we want you to know we’re committed to being your trusted financial partner and to helping protect you and your loved ones from fraud.
Unfortunately, scammers will often convince victims to lie to their financial institutions to keep transactions secret. No legitimate business or person will ever ask you to lie about your money. The good news is RCU team members are trained to recognize signs of a potential scam, and we may ask you about certain transactions to verify they’re legitimate. Our intent is not to make you uncomfortable—we do it because we care about protecting you and your hard-earned money.
One prevalent method of fraud is the “Phantom Hacker” scam. Scammers pretend to be tech support, bank employees, or government officials (like the FTC), lying to victims that their financial accounts have been hacked. They’ll ask for access to your computer or smartphone so they can help “secure” your funds, promising to rescue your accounts and stop fraud. They’ll direct you to transfer your money to a “safe” third-party account, which only the scammers can access.
Scammers will ask victims to withdraw large amounts of cash from their accounts, then direct the victim to give the money to a courier. Often, these couriers will dress like legitimate employees of the group they’re impersonating. Again, they tell victims to lie to their financial institution about the transactions to hide their tracks. Remember: If someone tells you to lie about your money, it’s a scam.
Learn to recognize the tactics Phantom Hacker scammers use to get your money:
- Scammers will convince you that your money or reputation are at risk and will scare or pressure you to act quickly to protect yourself.
- Scammers will urge you to complete a transaction and to lie about the purpose, sometimes under the guise of “protecting the investigation.” They will also deter you from contacting law enforcement.
- Scammers can manipulate Caller ID, emails, text messages, and even website login screens to make you think they’re from trusted companies and people you know.
IMPORTANT: Anyone who asks you to give your hard-earned money to a stranger and lie about it is a scammer! If you cannot talk to someone you trust, please contact law enforcement or RCU for help.
We’re here to help you stay vigilant and protect your information. If you have questions or think you may have been a victim of fraud, please report it to RCU’s Fraud Department at 1 (800) 479-7928 or contact us online. We also hope you’ll consider sharing your story with friends and family to help them protect themselves. We all need to work together to shine a light on fraudulent activity.
Learn more at RCU’s Fraud and Security Center.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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