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Fraud Statement - 2/20/2024

We have been informed that a few of our members have received text messages and calls that claim to come from Mutual First regarding fraudulent transactions on their accounts. Specifically, transactions for $106 at Walmart in Wisconsin. The callers asked for account numbers and social security numbers.

It is important to note that legitimate text messages from Mutual 1st verifying transactions are always automated, and we only request yes or no answers. We certainly will not ask you for your entire social security number or Mutual 1st account information. Please NEVER give anyone that information over the phone. If you receive a text message like the one described above, please do not engage with it and call us immediately at (402) 697-8200.

 If you get a call about a fraudulent transaction, please feel free to politely ask for the Mutual First employee’s name, hang up, and call us back at (402) 697-8200 to verify that the call was legitimate.

 If you suspect you have been a victim of identity theft or fraud on your Mutual 1st account, please contact us immediately.

Security & Fraud Center

Helping you feel more comfortable online

At Mutual 1st Federal, we do everything we can to keep your information safe, so you can focus on what's important to you. We’ve put together some important online and mobile banking safety tips, card security, spam, phishing and identity theft information, as well as what to look for online and in your emails, texts, or phone calls. 

Mutual 1st applies strict security policies to protect your accounts here. We will always ask you to verify your personal information when you call, and validate your identification when you visit the branches. Our online banking offers multi-factor authentication and numerous ways to track your activity. Find information about Online and Mobile banking.

Help Protect Yourself from Fraud

Mutual 1st Federal Credit Union and Visa® work together to catch any fraudulent behavior and protect your account. There are also some simple things you can do to help reduce the risks while online:

Protect Your PIN (Personal Identification Number)

  • Never write down your PIN - memorize it as soon as you get it.
  • Do not disclose your PIN to anyone. No one from any financial institution, the police or a merchant should ever ask for your PIN.
  • Beware of phishing emails. These are emails that appear to be from your bank or online merchant asking for account information. Do not reply to them or click on any links. Visa, your bank or any other legitimate online merchant will never ask for your PIN or other personal financial information via email.
  • At an ATM or PIN pad, enter your PIN discreetly, shielding the keypad with your hand or body.

Spot Suspicious Activity and Protect Your Account

  • Review your monthly account statements to spot any unauthorized purchases. You can also monitor your account activity online.
  • Periodically review your credit reports from each nationwide credit reporting agency for accuracy, and have information relating to fraudulent transactions deleted. Call any one of the three credit reporting agencies to receive your free annual credit report.

And remember, your Visa credit card is backed by Visa’s Zero Liability policy, so even if you card or its number is ever lost or stolen, you won’t be responsible for unauthorized charges.*

Report Suspicious Activity

If you notice suspicious activity within your account or experience security-related events, such as a phishing email or text message posing as Mutual 1st Federal, please contact us.

*Covers U.S.-issued cards only. Visa’s Zero Liability Policy does not apply to ATM transactions or PIN transactions not processed by VISA and certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit www.visa.com/security. APY = Annual Percentage Yield. Rates as of 8/1/14. Rates may change after the account is opened. Fees may reduce earnings. Minimum to open account is $5.

Phishing 

  • Beware of phishing emails. These are emails that appear to be from your bank or online merchant asking for account information. Visa, your bank or any other legitimate online merchant will never ask for your PIN, password, or other personal financial information via email.
  • Other phishing schemes try to trick you into providing information to criminals. You may receive an email that appears legitimate, asking to verify your personal information such as passwords, payment methods, social security number, etc. 
  • How to spot a phishing email? Words may be misspelled, and while it may look similar to the company, it is likely just a little off. Examine the email address; you may notice the actual address is not associated with the vendor, or financial institution. The email may address you as "User", "Customer", etc. when the real company usually addresses you by name. 
  • Do not click on any links in the suspicious message. 
Messages like this can also be received over the phone or via text message. In the case of phone calls, if someone is threatening to turn off your utilities or the like, always hang up and contact your utility company directly to verify. 

Elder Financial Exploitation 

According to the SEC, elder financial exploitation is a significant problem and they expect it to worsen with the aging of America. The elderly are particularly vulnerable due to cognitive and physical changes, wealth, and the rise in the elder population. Examples include withdrawing money from the victim's account, cashing their checks, using their credit cards, misuse of a power of attorney, identity theft, impersonation scams, and sweepstakes scams.