Giving Tree

Maine Children's Home Giving Tree

This holiday season, we are hosting a Giving Tree to benefit the Maine Children's Home Christmas / Winter Essentials Program. The program provides boxes of brand-new toys, books, games, warm clothing, and winter essentials to over 1,100 Maine children whose families are facing financial hardship.

Visit a branch lobby and choose a tag from our Giving Tree or an item from the Urgent Needs List. Please return the item unwrapped by Friday, November 29.

You can also shop online via the Amazon Wishlist and have the items shipped directly to the Maine Children's Home in Waterville.

Learn more about the Program

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

The Risks of Debt Relief Companies

The Risks of Debt Relief Companies

Debt relief companies may seem like a solution to financial struggles, but they are often misleading. These companies claim to renegotiate, settle, or modify the terms of your debt with creditors. However, as appealing as these offers may seem, working with debt relief companies can come with significant risks that could worsen your financial situation.

Risks of Debt Relief Companies

• They can charge high fees before delivering any results, with no guarantee of success.
• They may advise stopping payments during negotiations, which can harm your credit.
• Your interest and fees will continue to accumulate, leaving you with more debt in the process.
• Your creditors are not obligated to agree to any settlements. If the negotiations fail, you’re left with more debt and no resolution.

Be skeptical of any company that guarantees to completely eliminate debt, as debt relief outcomes vary significantly depending on individual circumstances. Make sure to thoroughly research any debt relief company through the Better Business Bureau or by reaching out to your known and trusted lending team at Connected Credit Union.

Debt Consolidation through Connected Credit Union provides a safer, simpler way to manage your debt. Our loan team is here to help you find the right solution for your financial situation. Contact us today at 207-623-3857 in Augusta or 207-872-2636 in Winslow.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

FAFSA is Live

FAFSA is Live

At Connected Credit Union, we're committed to helping our members achieve their educational goals. That’s why we're excited to inform you that the Free Application for Federal Student Aid (FAFSA) for the upcoming academic year is now available. The process typically takes 30 minutes to complete once you have all the necessary information ready.

START YOUR FAFSA FORM

If you need additional funding after exhausting grants, scholarships, and work-study, consider federal student loans. If federal student loans don't cover the entire cost of attendance, private student loans can be used as a supplement. If you have any questions or need help with the financial aid process, our friendly and knowledgeable team is here to help you every step of the way. Thank you for being a valued member of Connected Credit Union. We wish you the best of luck in your academic pursuits.

EXPLORE STUDENT LOANS

 

What is the FAFSA?
The FAFSA allows you to apply for federal student aid to cover college expenses such as tuition, books, and housing. The U.S. government and many colleges use the FAFSA to determine your eligibility for grants, loans, and work-study programs. Completing the FAFSA is the first step in financing higher education.

When do I need to submit the FAFSA?
The federal deadline gives you until June 30th of the following year to submit. However, the FAFSA deadline varies by state and school, so it's important to check with your school's financial aid office for their specific deadline. To ensure that you receive the maximum amount of financial aid you're eligible for, we encourage you to submit your FAFSA as soon as possible, as some financial aid programs are awarded on a first-come, first-served basis. Here are some key dates to keep in mind as you start the financial aid process:

October 1st, 2024: The FAFSA for the upcoming academic year is available. Since some aid is given out on a first-come, first-served basis, you should file the FAFSA as soon as possible on or after Oct. 1. Students who file the FAFSA within the first three months (October, November and December) tend to receive more than twice as much grant funding, on average, as students who file the FAFSA later.

School Deadline: Each college has its own deadline. Check with the college(s) you’re interested in attending to ensure that you get everything submitted on time.

Spring 2025: Sometime between March and June, you'll receive your financial aid award letter from your school, which outlines the types and amounts of financial aid you're eligible to receive. It's important to review this letter carefully and consider all of your options before accepting any financial aid offers.

 

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Check Fraud

Check Fraud: Scams to Watch Out For

Recently, many consumers have become victims of scams involving fraudulent checks. Lately, checks have become an attractive vehicle for fraud when used for payments to consumers. Although the amount of a check quickly becomes “available” for withdrawal by the member after being deposited, these funds do not belong to the member if the check proves to be fraudulent. In the meantime, the member may have irrevocably wired the funds to a scam artist or otherwise used the funds – only to find out later, when the fraud is detected – that the member owes the full amount of the check that had been deposited.

 

Scams to Watch Out For:

Selling Goods Online

Exercise caution when selling goods online. If a buyer sends you a check for the price that you have agreed on, make sure that the check is not fraudulent before you ship the goods to the buyer. Otherwise, you could end up without your goods or payment.

Checks for Excess Funds

This scenario is similar to the one described above. However, the buyer sends you a check for more than the purchase price and asks you to wire some or all of the excess funds to a third party, often in a foreign country. The buyer may explain that this procedure allows them to satisfy their obligations to you and the third party with a single check. When the check turns out to be fraudulent, you are now out the money that you thought was "excess."

Unexpected Checks

You receive a letter informing you that you have the right to receive a substantial sum of money. For example, the letter may state that you have won a foreign lottery or are the beneficiary of someone’s estate. The letter will state that you have to pay a processing/transfer tax or fee before you receive the money, but a check will be enclosed to cover that fee. The letter will ask you to deposit the check into your account and wire the fee to a third party, often in a foreign country. When the check turns out to be fraudulent, you are now out that money.

Mystery Shopping

You receive a letter informing you that you have been chosen to act as a mystery shopper. The letter includes a check, and you are told to deposit the check into your account. You are told to use a portion of the funds to purchase gift cards at designated stores and then report back the gift card information. When the check turns out to be fraudulent and the scammers have already emptied the gift cards, you are then out that money.

Check Washing

Check Washing is a common form of fraud where fraudsters use chemicals to erase the ink on a check, allowing them to alter the amount or payee name before cashing it. One simple way to help protect yourself from Check Washing is to use gel pens when writing checks. Gel ink will absorb into the fibers of the check, making it much harder to wash away compared to ballpoint pen ink.

 

Reminder When Depositing Checks:

• When you sign the back of a check and deposit it, you become responsible for that check. The risk of the check bouncing or being bad is on you.  Federal law (Regulation CC) requires that all financial institutions make at least part of the amount you deposited available within a few days. However, you can run into trouble if you spend the money before the check is fully cleared. If you spend the funds from a bad check, you are responsible for paying the money back to the financial institution.
• In addition to being responsible for the dollar amount of the check, you may also be subject to processing fees assessed by your financial institution for checks which have been returned for NSF (Non-Sufficient Funds).
• Check holds are a temporary delay in making the funds in your checking account available after you deposit a check. Check holds can be placed for various reasons including checks for over $5,000, new account checks, redeposited checks, and suspicion of fraudulent checks.
• Always exhibit caution when dealing with checks, and stop in or call the Augusta Branch at (207) 623-3857 or the Winslow Branch at (207) 872-2636 if you have any questions or concerns.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Update Software Promptly for Safety

Update Software Promptly for Safety

When we see an update alert, many of us tend to hit “Remind me later.” Think twice before delaying a software update! Keeping software up to date is an easy way to stay safer online. To make it even more convenient, turn on automatic updates!

• Turn on automatic updates
  Look in the device’s settings, possibly under Software or Security. Or search the settings for “automatic updates.”
• Watch for notifications
  Not every update can be automatic. Devices— mobile phones, tablets and laptops—will usually notify us that we need to run updates. It’s important to install ALL updates, especially for web browsers and antivirus software.
• Install updates as soon as possible
  When notified about software updates, especially critical updates, install them as soon as possible. Online criminals won’t wait so we shouldn’t either!

Why it’s so important to update promptly

If a criminal gets into a device through a security flaw, they will look for personal information and sensitive data to exploit. Technology providers issue software updates to “patch” security weak spots as quickly as possible. If we don’t install them, they can’t protect us! Software updates can also fix bugs, improve performance, and install the latest features.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Multifactor Authentication (MFA)

Stay Safer with Multifactor Authentication (MFA)

MFA provides extra security for our online accounts and apps. This security could be a code sent via text or email or generated by an app, or biometrics like fingerprints and facial recognition. Using MFA confirms our identities when logging into our accounts.

Follow these easy steps on each account:

1. Go to Settings
   It may be called Account Settings, Settings & Privacy or similar.
2. Look for and turn on MFA
   It may be called two-factor authentication, two-step verification or similar.
3. Confirm
   Select how to provide extra login security, such as by entering a code sent via text or email or using facial recognition.

After setting up MFA, logging in may require completing the MFA security step to prove our identities. It only takes a moment but makes us significantly safer from malicious hackers! Turn on MFA for every online account or app that offers it such as your email, online banking, social media, and more!

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

College Financial Tips

Top 5 Financial Tips for College Students

1. Avoid High Bookstore Prices

• Buy or borrow books used from other students who have already taken the class.
• Check prices from book resellers such as Amazon and eBay for the best prices.
• Consider renting your books for the semester instead of buying.

2. Use Credit Responsibility

• Read the fine print on too good to be true credit card offers.
• Since you are beginning to build your credit, you should start with a credit card with a low interest rate with no annual fee.
• Avoid acquiring multiple credit cards and racking up debt that you cannot pay off.

3. Minimize Student Debt

• Get a part-time job or a work-study position to earn extra money.
• Explore private student loans with Connected Credit Union to find the right loan that fits your unique needs.
• Even though student loans aren’t due until after graduation, start paying them off as soon as you can to minimize the total amount due upon graduation.

4.  Set a Spending Limit

• Costs from unnecessary purchases can add up fast, especially when you are living on a budget.
• Set a limit of your non-essential spending in your budget.
• If you come in under your spending limit at the end of the month, save the extra money.

5. Utilize Connected Credit Union's Services

• If you are moving away for college, you can still do your normal banking via Shared Branching. With over 5,400 locations across the nation, chances are you’ll be close to a CO-OP Shared Branching location.
• Earn rewards through your Connected Debit Card on everyday purchases! With our UChoose rewards program, you'll earn rewards to redeem for cash, travel, or gift cards when you sign for your purchases instead of using your PIN. Remember: Sign, don't PIN, it's a win/win.
• Download the Connected CU mobile app for convenient banking anywhere, anytime. Check your account balance, mobile deposit a check, transfer funds, and more!  It is available in the App Store and on Google Play.

 

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Telephone Scams

Telephone Scams

Telephone scams include phone calls, robocalls, and text messages aimed at stealing your personal information or asking you to send large amounts of money. We have listed a few tips below to help you avoid falling victim to a telephone scam:

• Hang up immediately on any phone call and do not respond to any text message that is suspicious.
• Be cautious of spoofing or the process of scammers manipulating the caller ID to be someone else.
• Never provide your personal information such as credit card number, social security number, or credit union account information to someone you do not know or trust.
• Do not send money to someone you do not know and trust, especially if told to wire money or purchase prepaid cards.
• Research any travel package or business opportunity that is offered to you over the phone before taking action.

We’re Here for You!

If you do become a victim of a telephone scam, notify Connected Credit Union immediately. Call the Augusta Branch at (207) 623-3857 or the Winslow Branch at (207) 872-2636 during business hours. Monitor your accounts for any unauthorized activity and ask us to provide heightened scrutiny of your accounts. You can also temporarily, freeze your credit through each of the three major credit bureaus: Experian, Equifax, and TransUnion. It won’t impact your score, but it will prevent new credit from being taken out in your name. There is no fee and you can unfreeze at any time. This is a very important step in protecting yourself and your good credit.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Identify and Avoid Elder Abuse Scams

Identify and Avoid Scams This World Elder Abuse Awareness Day

Fraudsters and scammers are ever-evolving, deceptively clever, and relentless in their attempts to obtain peoples’ money and personal information––making it essential to stay educated and up-to-date on the latest scam trends. Sadly, a growing trend of those committing nefarious financial schemes is praying on the vulnerabilities of older Mainers. 

With the prevalence of scams targeting seniors continuing to rise, it’s important for everyone to take proactive steps in protecting their older friends, family, and neighbors from falling victim. Here are the top scams targeting seniors, as well as ways you can help safeguard the older Mainers in your life against them:

Grandparent Scams 

This is one of the most heartless scams, with criminals taking advantage of an older person’s love and instinct to protect their grandchildren. Scammers will impersonate a grandchild in distress––often through a phone call––claiming they’re in trouble and need money urgently. With increasingly sophisticated artificial intelligence resources at peoples’ disposal, scammers can easily replicate the voice of one’s grandchild. The imposter may claim they’ve been in a car accident, arrested, or are facing some other emergency situation. They then ask the grandparent to send money immediately using a wire transfer, cryptocurrency, or other unusual payment method. 

Prevention Tips 

• Encourage the older Mainers in your life to set up code words with their friends and family as a way to verify identity. 
• Talk to them about hanging up and calling their family back right away if they’re asking for money. However, it’s important to note they should call back a trusted contact number and not simply redial the number. 

Tech Support Scams 

With more reliance on technology for day-to-day tasks than ever before, seniors are finding themselves using digital devices and navigating the internet. Scammers pray on the fact that many seniors aren’t as tech-savvy as their younger counterparts. By utilizing online popups, advertisements, emails, or even phone calls, scammers are tricking older people into believing they are tech support representatives from trusted companies, such as Microsoft or Apple. They may claim their computer has a virus or that they need to resolve a technical issue. From there, they instruct the senior to download malicious software, which can steal their personal and financial data, or grant them remote access. 

Prevention Tips 

• Install antivirus software on the devices of your older friends and family members devices. 
• Register their numbers on the Federal Trade Commission’s “Do Not Call” list, as well as installing a spam call blocker app on their phones. 
• Educate them on safe internet and device usage, and about keeping their personal and financial information safe. 

Government Impersonation Scams 

Scammers will often impersonate government employees, such as law enforcement, Internal Revenue Service agents, Medicare representatives, or the Social Security Administration. They may call and threaten unsuspecting seniors with arrest, fines, or legal action if they don’t pay back taxes, fines, or fees stemming from a mistake made by the senior. They may also simply ask the senior for some personal information to confirm their identity––that way the senior continues to receive benefits. 

Prevention Tips 

• Tell the older Mainers in your life that urgency and fear tactics are warning signs of a scam. Scammers know that fear can lead to poor judgment and if people think they need to act quickly, they won’t take the time to think the situation through. 
• If they receive a call, encourage them to call back using the government agency’s official number. 
• Inform them that these agencies will very rarely call them. If they do, they won’t solicit personal or financial information. 

Online Romance Scams 

While older widows and divorcees are particularly susceptible to online romance scams, fraudsters will happily target any senior seeking connection. After creating fake online dating personas and social media accounts, the scammer will engage in conversations with the senior. Once trust––maybe even “love”––is gained, the scammer may ask for money. They could claim they’re having a medical emergency or want money to travel and meet the senior in person. 

Prevention Tips

• Alert the seniors in your life to the threats of online dating. 
• Go over the red flags of romance scams, such as the other person not being able to meet or wanting money. 
• Check-in on them regularly. Visit with them and invite them to events to keep them from becoming lonely and dependent on internet relationships. 

Lottery or Sweepstakes Scams 

In this scam, an older person receives an email, text, call, or letter from a scammer claiming they’ve won a large prize. However, to claim the prize, they must first pay taxes or administration fees. Unfortunately, the prize never materializes, and the senior loses out on their money. 

Prevention Tips 

• Tell your older friends and family to be cautious if contacted about winning a prize––especially if they didn’t enter for one. 
• Educate them about the “dos and don’ts” of the lottery and sweepstakes by reviewing AARP’s recommendations. 

The Bottom Line 

In closing, protecting older adults from scams requires routine awareness, education, and proactive measures. By staying informed on the latest scams, establishing trusted contacts, implementing device screening and blocking solutions, and encouraging caution, we can safeguard the older Mainers in our lives from falling victim to malicious, deceiving scams.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Elder Financial Abuse Prevention

Elder Financial Abuse Prevention

World Elder Abuse Awareness Day is recognized on June 15 each year. It’s a day that promotes a better understanding of abuse and neglect of older persons––both by raising awareness and providing education. As many as 1 in 10 older Americans are abused or neglected each year, with only 1 in 24 cases ever reported to the authorities. An increasingly common form of elder abuse is when an abuser exploits the resources of an elder for monetary benefit, profit, or gain. This is known as elder financial abuse. Raising awareness about this growing issue is particularly important in Maine due to our state’s rapidly aging population. If you’re a friend or family member of a Maine senior, asking yourself these questions and recognizing the red flags may help you in preventing or responding to elder financial abuse:

Are they isolated?

When an older Mainer is isolated or limited in their mobility, they may lower their guard and trust people they wouldn’t normally interact with. Isolated seniors are easily targeted, as they aren’t often in contact with constant support systems. If you are a friend or family member of an older Mainer, make an effort to increase contact and regularly check in to make sure they aren’t being taken advantage of.

Are there new people in their lives?

Not every new person in a senior’s life is necessarily there for nefarious purposes. However, it’s important to pay attention to the motives and actions of any new people. Those committing elder financial fraud will often masquerade as friends and interject themselves into conversations about finances or legal matters. A major red flag would be a new person driving the senior to the credit union, or to their lawyer or financial advisor’s office. And while you should certainly be cognizant of new people, keep an eye out for long-time friends or family suddenly showing more interest in the financial situation of the elder. A sad reality is that nearly 90% of all elder abuse cases are perpetrated by family members. Regardless of whether it’s a new or familiar face, pay attention to situations where people suddenly show increased interest in the senior’s finances, or even want to be caregivers. Be certain to monitor continuously, ask questions, and don’t accept anything but complete, logical answers.

Are they exhibiting unusual behavior?

If the senior in your life starts giving away money, transferring assets to people, or writing checks to “cash,” this should be a red flag. Another red flag would be if you start noticing an unexplainable living situation––with it changing or deteriorating, and simply not matching up with their monthly retirement income. If the senior in your life is suddenly getting eviction notices, “final warnings,” or is missing utility payments when they’ve been able to make those payments in the past, that may be evidence of elder financial abuse.

Are things missing or being used without their permission?

Theft is an obvious red flag. However, even borrowing or using property without permission is a form of elder financial abuse. For example, if someone starts driving around a senior’s vehicle without consent, that’s abuse––even if the senior is no longer driving it anymore.

Are they changing legal or financial documents?

If there are sudden changes to estate documents, insurance policies, retirement accounts, or any other legal or financial documents, that’s a definite red flag. This is especially true with those experiencing a cognitive decline, as they may be being coaxed into these decisions by others with malicious and selfish intent.

How do I better spot or prevent red flags?

One of the best ways is to maintain regular contact with the seniors in your life. An isolated senior is an easy target and your regular presence or contact may be what’s needed to deter potential abuse. Trust your gut. Ask questions. Don’t assume that someone else has already reported a suspicious situation.

To report suspected elder financial abuse, contact the Maine Office of Aging and Disability Services, where calls can be made anonymously. You can also reach out to Connected Credit Union, as Maine credit unions have been leaders in working to prevent financial exploitation through training, awareness, and advocacy. Most importantly, if a senior is ever in immediate physical danger, call 911.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Save at the Pump

Tips to Save at the Pump

1. Research the lowest price in your area

Before heading out on the road, research the prices of gas in your area to make sure you are getting the best deal when you need to fill up. Apps like Gas Buddy and Gas Guru are helpful in letting you compare local gas prices.

2. Improve your fuel efficiency

There are a few ways you can easily improve your fuel efficiency and get the most out of each fill-up. Keep up to date on your car's routine maintenance, make sure your tires are properly inflated, and remove any extra cargo or weight you are carrying. When driving, try to gradually accelerate, avoid hard braking, and slow down on the highway.

3. Change your driving habits

Carpool with a friend and split the travel costs if you are going to the same place. Plan ahead to get all your errands done in one trip out instead of multiple little trips. Turn off your car to reduce idling as much as possible.

4. Enroll in loyalty/rewards programs

Different gas stations offer different loyalty programs that could help you save on the cost per gallon. Do your research into these fuel rewards programs and enroll if you determine they could help you save at the pump.

5. Use your Scorecard Rewards on your Connected VISA Credit Card

You could redeem your ScoreCard Rewards points for up to $0.50 off per gallon (up to 20 gallons) at participating stations! Learn more here.

Don't have a Connected Credit Union VISA with Scorecard Rewards? You can apply for one today online or on our mobile app.

VISA Credit Card Scorecard Rewards

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Home Warranty Letter Scam

Home Warranty Letter Scam

Be aware that fraudulent letters are circulating in Maine regarding your home's warranty. The letter will claim that your home warranty with Connected Credit Union will expire soon if you do not take immediate action. This letter is NOT sent by Connected Credit Union.

• If you receive one of these letters DO NOT call the toll-free automated number listed.
• Never share personal information—including financial accounts and card information—with anyone.
• Please call Connected Credit Union at 207-623-3857 in Augusta or 207-872-2636 in Winslow if you have any questions.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Student Loan Repayment

Student Loan Repayment

Student loans can be one of the scariest parts of graduating from college. The first step is to plan how you will repay your loans. Start by looking at how much you owe, the interest rates on each loan, and the repayment terms. Make sure you choose a payment plan you can manage and always make your payments on time. If you can afford to, paying a little extra on the principle of your loans can help you pay off your student debt faster.

You can find your loan details including how much you owe, what your interest rates are, who your loan servicer is, and more by creating an account and logging in at StudentAid.gov.

There are many options available for repaying your student loans from income-based plans to paying a monthly fixed amount. You must contact your loan service provider to pick your repayment plan. If you do not pick your repayment plan, you will automatically be placed on the Standard Repayment Plan which is a 10-year fixed repayment plan that may result in a higher monthly payment. Learn more about Repaying Student Loans.

Maine residents also have an opportunity to earn the Student Loan Repayment Tax Credit. This program is open to Maine residents who are making student loan payments, graduated from an accredited college or university after 2007, and live and work in Maine. The Student Loan Repayment Tax Credit is up to $2,500 annually. Learn more about how you could benefit from the Student Loan Repayment Tax Credit.

Did you know you don't have to be stuck with the rates and terms of your student loans? Connected Credit Union can help you Refinance Your Student Loans to get a lower rate, a lower monthly payment, or maybe even both!

When you refinance with us, you'll enjoy:

• Competitive interest rates
• Flexible repayment terms
• A single monthly payment
• No origination fees or prepayment penalties

The Finance Authority of Maine (FAME) has a great video covering the basics of student loans and repayment options.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Mobile Deposit Scams

Mobile Deposit Scams

Scammers may ask you for your online banking information and promise to send you money by depositing it straight into your account for you. This is a scam!

NEVER share your online banking login credentials or your two-step authentication code with anyone.

These scammers will mobile deposit a fraudulent check on your behalf to gain access to your account and transfer out your funds.

 

Common Mobile Deposit Scams

Romance Scam: Online romance scams happen every day. Fraudsters create fake profiles to trick their victims into believing they are in love before requesting money. Don’t send money or give online access to your accounts to anyone, especially to an individual you have never met face-to-face.

Job Scam: Advertisements for mystery shopping jobs are scams. You will be sent a check and told to purchase gift cards with the funds. When the check turns out to be fraudulent, the scammers have already emptied the gift cards.

Loan Scam: Advertisements for fake loans can also convince victims to give access to their accounts to receive a loan. The scammers will deposit a fraudulent check for the loan and gain access to your online banking account.

Prize Scam: Fraudsters will attempt to gain personal information or money by saying that you have won a fake prize. Never pay a fee or give out account information to receive your prize.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Tips for Recent College Grads

Financial Tips for College Graduates

1. Make a plan for your student loans

Student loans can be one of the scariest parts of graduating from college. The first step is to plan how you will repay your loans.  Start by looking at how much you owe, the interest rates on each loan, and the repayment terms. Make sure you choose a payment plan that you can manage and always make your payments on time. If you can afford to, paying a little extra on the principle of your loans can help you pay off your student debt faster. For more information and tips, visit our blog Student Loan Repayment.

2. Refinance your student loans

Did you know you don't have to be stuck with the rates and terms of your student loans? As you transition into your next chapter of life, Student Loan Refinancing can be an exciting opportunity to save money on your federal and private student loans. Refinancing can help you reduce your monthly payments, save on interest, and even pay off your loan faster.

3. Create a budget you can stick to

Creating a budget can be very beneficial for managing your finances, especially if you are becoming financially independent for the first time. Start making your budget by listing your income and expenses, determining your savings goals, and allocating your funds to balance your budget. See our blog 3 POPULAR BUDGETS YOU CAN STICK TO for more ideas on how to create a budget that will work for you.

4. Start saving for retirement

Even though retirement seems so far away, the sooner you start saving, the better off you'll be in the long run. If your employer offers a 401(k) plan, you should take advantage of it and begin to save a percentage of your income for retirement. Some employers offer matching contributions to your 401(k), which you should max out if you are able. If your employer doesn't offer a 401(k), you should look into opening an IRA account to start your retirement savings instead. Learn more about IRA accounts at Connected Credit Union.

5. Build up your credit score

Building a strong credit score can also be very beneficial in the long run. To improve your credit score, focus on making on-time payments and paying down credit card balances. Avoid utilizing your credit cards at their capacity and opening too many new accounts within a short period of time. Remember that building a strong credit score can take time, but the sooner you start, the better off you will be.  Having one major card is a better credit builder than having store cards.  Again, keeping in mind credit cards should be used for emergency situations and paid in full every month if at all possible. Ask our loan team about a Secured Credit Card or Credit Builder Loan designed to help you build credit.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Recognizing Scam Red Flags

Recognizing Scam Red Flags

You need to act fast. Acting in urgency is a warning sign of a scam. Scammers want you to act quickly and make payments without taking the time to think the situation through.

They’re using fear tactics. If someone threatens to arrest you, sue you, or subject you to any other consequences if you don’t pay them, it’s likely a scam. Fraudsters will try to create fear and urgency to get you to do what they want.

Unusual payment methods are requested. If you are asked to send a payment via a wire transfer, prepaid card, or cryptocurrency, do not do it. These methods are nearly untraceable, and once the money is sent, it’s usually gone for good.

Pre-payment is requested. If someone offers you a prize or debt relief, if you have to pay an upfront fee or shipping costs in order to get it, it’s most likely a scam.

They want your personal information. If you are contacted and asked to verify sensitive information over the phone, hang up. Never provide personally identifiable information like your birthday or Social Security number in response to an unsolicited call, email, or text message.

You need to keep it a secret. If you are asked to keep a transaction a secret, it’s likely because the scammer doesn’t want you to share the situation with someone who might detect it as a scam.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Phone Call Fraud

Phone Call Fraud

Receiving an unexpected call about fraud on your account from a number that appears to be originating from our credit union, or another financial institution, can be alarming. But Connected Credit Union will never call, text, or email you to disclose personal account information.

If you are in doubt, hang up and call Connected Credit Union at 207-623-3857 in Augusta or 207-872-2636 in Winslow.

Be aware of fraudsters contacting you indicating that your financial institution is being investigated and you must withdraw your money. This is a scam. Hand up and call your financial institution.

When in Doubt, Don't Give It Out

Never share the following information over the phone. Especially when you did not initiate the contact.

• Online Banking Information
• Passwords or PINs
• Social Security Numbers
• Account Numbers
• Credit or Debit Card Information

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Youth Savings Program

4 Reasons to Join CC The Owl's Youth Savings Program

April is Youth Savings Month! This year's theme is “Save Away for a Rainy Day,” because when kids learn about the importance of saving money for the future, they are laying the foundation for financial success! Below is a list of great reasons why you should consider opening a youth account for your child.

1. Matching Deposits

Choosing Connected Credit Union as a place to save is a smart choice because of our deposit matching program! Each time your child fills their $5.00 coin book and brings it to the credit union to deposit, we will match their $5.00 deposit up to three times.

2. Birthday Messages

Each year for your child's birthday, they will receive a special message in the mail from our youth savings mascot, CC the Owl!

3. Earn Prizes

CC the Owl loves rewarding youth members for saving! When your child makes a deposit, they are able to choose a brand new book from CC the Owl's Treasure Nest. CC keeps the nest filled with books for all reading levels from ages 0-13. In addition, for each deposit made they are entered into a monthly drawing for $25.00!

4. Saving Money

CC the Owl's Youth Savings Program teaches children the value of saving money. Learning and practicing money-saving habits at a young age, will help them to build a financial relationship with the credit union and a strong financial future. Let’s set them on the path to financial success together!

 

CC THE OWL'S YOUTH SAVINGS PROGRAM

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

CC's Saving Tips

CC The Owl's Tips for Saving

April is Youth Savings Month! This year's theme is “Save Away for a Rainy Day,” because when kids learn about the importance of saving money for the future, they are laying the foundation for financial success! CC the Owl has great tips to help our young members get started on their savings journey.

1. Pick a Place to Save

Help your child pick a place to start saving their money. Some great choices are a piggy bank, CC The Owl's coin savers, or a clear jar that can be decorated! Having a specific location to store savings helps children visualize their money growing. Choosing Connected Credit Union as a place to save is a smart choice because of our deposit matching program!  Each time you fill your $5.00 coin book and bring it to the credit union to deposit your money, we will match your $5.00 deposit up to three times.  This gets our young savers off to a great start!  We also have a prize basket to choose from when deposits are made. Our young members love coming to the credit union!

2. Set a Goal

Setting a savings goal can be helpful to motivate your child to start saving their money. Your child can determine how much money they want to save and then you can create a timeline to help get them there. For example, the goal could be saving $8 in a month, by saving $2 per week.

3. Track Spending

A good part of being a saver is understanding how you use your money. Have your child write down their allowance/income for the week as well as their spending habits. Your child can see the value of saving and learn how to adjust their habits to save more and reach their goal faster.

4. Open a Youth Account

CC the Owl's Youth Savings Program teaches children the value of saving money by rewarding them with deposit matching and fun prizes! Learning and practicing money saving habits at a young age, will help them to build a financial relationship with the credit union and a strong financial future. Watch what happens when your child receives their first deposit match! They are immediately drawn to watching their balance grow and realizing that it pays to save. Let’s set them on the path to financial success together!  

CC The Owl's youth savings program

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Popular Scams to Avoid

Popular Scams to Avoid

Lottery or prize scams: Never provide personal or financial information if you’ve been contacted about winning a prize, especially if you didn’t enter to win one. Scammers may try to get you to pay an upfront fee or taxes before receiving the “prize,” or they may ask for your account information––that way they can “deposit the money.” This is likely a scam.

Imposter scams: This is when a scammer pretends to be someone else, such as a government official, police officer, credit union or bank employee, friend, or family member––with the intention of obtaining your money or personal information. Always confirm the identity of the person contacting you. To avoid phone spoofing, hang up and call the person back directly. Your credit union won’t call you for online banking information, passwords, Social Security numbers, or other private personal information.

Wire or money transfer fraud: Never transfer money to someone you don’t know. If you are asked to send a payment via a wire transfer, prepaid card, or cryptocurrency, do not do it. These methods are nearly untraceable, and once the money is sent, it’s usually gone for good.

Check scams: If you’re selling something, do not accept a check for more than the requested amount. After the sale, scammers will ask you to send back the difference they “mistakenly” overpaid. The check will later bounce, and you’ve lost both the money and whatever item you sold.

Romance scams: These are deceptive schemes where scammers create fake online personas, pretending to be potential romantic partners, to exploit individuals looking for love or companionship. After building emotional connections with their victims over time, they gain their trust and affection. Once that trust is established, they ask for money.

Charity scams: Always verify that a charity is legitimate before donating. Check their website, look for reviews, and never donate if you’re feeling pressured. You should also be suspicious if a charity asks you to make a donation via cash or wire transfer.

Debt settlement or relief scams: Don’t pay upfront fees to any company that guarantees they can settle or eliminate your debts. Scammers will promise to negotiate with creditors on your behalf to settle your debts for a fraction of the amount owed, or even wipe the debt out entirely. They charge an upfront fee but fail to deliver on their promise, leaving you in a worse financial situation and without any real debt relief.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Family Imposter Scams

Family Imposter Scams

If you get an unexpected call from someone claiming to be a family member or friend asking you for money to help them out of an emergency, take pause before acting! This could be a scam.

Imposters often use scare tactics like saying they have been in an accident or arrested to get people to act fast. Artificial Intelligence can even mimic a loved one’s voice.

Always call or text your friend or family member back directly to make sure they are okay, and never wire money, mail cash, or send cryptocurrency to a stranger!

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Do you reuse your passwords?

Do you reuse your passwords?

Reusing your passwords from one platform to another can make it easy for hackers to access your accounts and personal information.

When choosing a new password, avoid simple passwords that can be easily hacked. For example, your password shouldn't include personal information such as birthdays, family members' names, or phone numbers.

Longer passwords are more secure than shorter passwords. Ideally, your password should be between 8 and 20 characters, including a mix of upper case letters, lower case letters, numbers, and special characters.

Enable and use Multi-factor authentication to add another layer of protection. Multi-factor authentication requires you to log in with both a password and a special time-sensitive code sent to your device.

You should update your passwords at least every three months. Regularly updating your passwords limits your chances of hackers gaining unauthorized access to your accounts.

If you are told you have a virus on your computer, run your own anti-virus scan and always refer to a trusted source for tech support. Never provide anyone remote access to your mobile devices, laptops, or computers.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

E-Statements

5 Reasons to Switch to E-statements

1. Cut Down on Clutter

Is your mailbox overflowing? Cut down on the clutter by eliminating the need to search through your mail for your statement. Instead, access your statements easily through online banking.

2. See Statements Faster

Don't wait for snail mail to arrive in order to access your newest monthly statement. With e-statements, you can view the newest monthly statement as soon as it is ready in online banking. 

3. Reduce Risk of Identity Theft

You won't have to worry about fraudsters stealing your personal information on your statements, especially if you are going away for a while and will not be around to monitor your mailbox. Our online banking platform is safe and secure. Only you will have access to log in and view statements.

4. Secure Storage and Organization

Have no secure place to store and organize your statements? With e-statements, you won't have to worry about tracking down that misplaced statement. The last year's worth of e-statements will be available for you to view and print whenever you need. You'll be able to find the exact statement you need, without the hassle.

5. Save Paper

Going paperless is also better for the environment! You can lower your carbon footprint by choosing to access your statements online instead of being sent via the mail. Save trees and cut down on emissions from transportation. It's all-around a win for our planet!

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Making Your Home Energy Efficient

Making Your Home Energy Efficient

1. Upgrade your showerheads
The U.S. Environmental Protection Agency recommends using showerheads with the WaterSense label. These efficient shower heads can save approximately 2,700 gallons of water and 330-kilowatt hours of electricity per family. That's enough electricity to power a house for 11 days!

2. Swap your light bulbs

According to the U.S. Department of Energy, LED lightbulbs use 75% less energy than traditional lightbulbs. Swapping your lightbulbs is an easy fix to make your home more energy efficient and save money on your electric bill.

3. Insulate your windows

Keep the heat in your house this winter by insulating your windows. There are many energy-efficient window coverings and attachments for the interior and exterior of your window. Learn more about different options for insulating your windows from the U.S. Department of Energy.

4. Time for new appliances

Is it time for new appliances? When shopping around to upgrade your appliances, look for the ENERGY STAR® label that designates an energy-efficient model. Don't skip over reading the EnergyGuide label which will tell you the estimated yearly electricity consumption and operating cost. 

5. Replace your heating/cooling systems

Heating/cooling systems typically use the most energy in your home which can drive up your electricity costs. According to the U.S. Department of Energy, upgrading your heating/cooling systems can save around 30% on your energy bill. There are many different options when it comes to choosing a new energy-efficient heating/cooling system. Check out Efficiency Maine's Home Heating Cost Calculator to estimate the cost of each option.

6. Earn an Efficiency Maine Rebate

When you upgrade your home to be more energy efficient, you may qualify to earn a rebate from Efficiency Maine. Check out their website for additional information on rebates and other incentives offered by Efficiency Maine.

7. Get Started with an Energy Loan!

Making your home more energy efficient isn't just an investment in your home, it's an investment in your lifestyle. An energy-efficient home means putting money back in your pocket. Get started with an energy loan today. Our loan team is here to help.

Energy Loans

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Financial New Year’s Resolutions

Four Financial New Year's Resolutions for 2024

1. Start an Emergency Fund
Life can be unpredictable, which is why having an emergency fund is so important. It’s often recommended that you have three to six months' worth of expenses saved away in the event of an emergency.

2. Check Your Credit Score
Check your score from each of the three main credit bureaus in 2024 – Experian, Equifax, and TransUnion. You can check your score from each bureau for free once a year. Checking your score can tell you where your credit stands, ensure that your credit information is accurate, allow you to respond to changes quickly, and give insight on how it can be improved.

 

3. Try the 52-Week Money Challenge
If you often give up on financial resolutions because you’re not seeing immediate results, try the 52-week money challenge. You start by saving away $1.00 during the first week of the year, gradually increasing your savings by a dollar each week throughout 2024. You’ll save away $2.00 during the second week, $3.00 in the third week, and ultimately saving away $52.00 in the last week of the year. By the end of the year, if you complete the challenge, you’ll have saved $1,378.00. 

52 WEEK CHALLENGE CHART

4. Do Your Taxes Early
If you traditionally wait until the last minute to file your taxes, make it a goal to do so earlier. As many people tend to procrastinate, you can get your refund much sooner. Also, filing early can help prevent identity theft. As soon as a criminal gets access to your Social Security Number, they can do a lot of damage. If they file with your Social Security number before you do, the IRS will decline your return since their records show you’ve already been paid. It can take months to clear this up with the IRS. If you can, file your taxes early and prevent the fraudsters from successfully filing a fraudulent return.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Mobile Payment App Fraud

Mobile Payment App Fraud

Fraud occurring through many different Mobile Payment Apps is becoming more prevalent. If you use a Mobile Payment App, we encourage you to follow these tips to use these apps safely and to protect yourself from fraud.

• Do not send money to someone you do not know and trust.
• Always double-check the recipient's information before sending a payment to ensure it is going to the intended person.
• Check your account regularly to verify your transaction history. Doing routine checks can help you quickly spot fraud and take action.
• Use strong passwords, change them often, and do not include personal information. Avoid recycling passwords.
• Enable and use Multi-Factor Authentication on your accounts which adds another layer of protection. Multi-Factor Authentication requires both your password and a special time-sensitive code sent to your cellphone or email prior to logging in. This extra step may help prevent scammers from accessing your accounts. 
• Never share your account information and/or login credentials with anyone.

If you do become a victim of Mobile Payment App Fraud, take action and report it immediately in the app. Your financial institution is unable to help retrieve any funds sent through a Mobile Payment App. You can report fraudulent transactions and scams via the support chat in the Mobile Payment App or call the numbers listed below.

• Cash App 1 (800) 969-1940
• Venmo 1 (855) 812-4430
• PayPal 1 (888) 221-1161

For more information check out the Federal Trade Commission's Mobile Payment Apps: How To Avoid a Scam When You Use One.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Protect Yourself From Fraud

Protect Yourself From Fraud

Never share personal information—including financial accounts and card information—with anyone. Connected Credit Union will not call, text, or email you and ask you to disclose or verify this information. A member-initiated phone call to the credit union does require providing personal information.

If you are uncertain about the questions being asked over the phone, hang up immediately and call the organization using a phone number found through a trusted source, such as the company’s official website or a financial statement.

If you receive a call about a family member in danger and needing money right away, hang up and call the family member or one close to them to verify the request.

Be cautious of spoofing or the process of scammers manipulating the caller ID to be someone else.

Do not send money to someone you do not know and trust, especially if told to wire money, use a Bitcoin machine, or purchase prepaid cards.

Immediately delete any suspicious emails or texts, do not click on any links, and block the sender. Never open attachments or click on links from unknown individuals or companies as it could enable malicious software.

Use strong passwords, change them often, and do not include personal information.  Avoid recycling passwords. Utilize two-factor authentication for your financial accounts. This adds another layer of protection. Always update the security on your electronic and mobile devices.

Never provide anyone remote access to your mobile devices, laptops, or computers.

If you are told you have a virus, never allow an outside source access to your computer.  Run your own anti-virus scan and always refer to a trusted source for things such as this.

Fraudsters will try to create fear and urgency to get you to do what they want. Don’t fall for this.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Protect Against Skimming

Protect Yourself From Skimming

What is skimming?

Skimming is the practice of fraudsters placing a popular tool called a skimmer over a legitimate card reader to steal your credit and debit card information. Scammers often put skimmers on public and easily accessible card readers at places such as gas stations or ATMs. When you swipe your card through the skimmer, the scammer gains access to your credit and debit card information.

 

How can I protect myself?

There are many ways that you can protect yourself from card skimmers.

• Mobile Pay - use Google Pay, Samsung Pay, or Apple Pay to pay with your phone instead of swiping your card.
• Pay Inside - when paying at the pump, it is safer to pay inside where the card reader is less likely to have been compromised.
• Pay With Cash - the best way to avoid having your card compromised is to pay with cash when you are wary of the card reader.

What happens if I fall victim to skimming?

Please notify the credit union as soon as possible that your card has been compromised by calling 207-623-3857 in Augusta or 207-872-2636 in Winslow.

 

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Good Things Come in Pairs

Good Things Come in Pairs

Good things come in pairs, like shoes, socks, earrings - you get the idea!

Something else that makes a great pair here at Connected Credit Union is our Visa Debit Card, paired with uChoose Rewards, and our Visa Credit Card paired with Scorecard Rewards! It’s a winning combination!

 

Visa Debit Card with uChoose Rewards

With our uChoose Rewards program, you can earn points on qualifying purchases when you use your Connected Credit Union Debit Card! To start earning rewards when using your Connected Credit Union Debit Card, you must enroll online at uchooserewards.com. When using your Connected Credit Union Debit Card, sign for your purchases instead of entering your PIN to earn points. Remember, Sign, don't PIN - It's a WIN/WIN!  Redeem your rewards for cash, merchandise, travel, gift cards, and more! 

Learn More

 

Visa Credit Card with Scorecard Rewards

When using our Visa Credit Card you'll earn one bonus point for every dollar you spend. Accumulated points can be redeemed for merchandise, fuel, travel, gift cards and statement credits using Scorecard Rewards. Create your own wish list and watch your points accumulate! Don't miss out on your earning potential. Register your card today at scorecardrewards.com.

Learn More

 

Connected Credit Union and YOU…the best pair of all!

Be sure your Connected Credit Union cards are top of mind and top of wallet, we are all you need in one financial institution!

Add your cards to your mobile wallet

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Mobile Pay

How to Get Started with Mobile Pay

What is a mobile wallet?

A mobile wallet is an app on your smartphone that stores your credit card and/or debit card information to make purchases instead of using your physical card. The three mobile wallets are Apple Pay, Google Pay, and Samsung Pay. Click on the logo below to learn more information about each of the three mobile wallets.

    

How do I use a mobile wallet?

You can use your mobile wallet to make purchases anywhere you see the symbol below. Simply open your mobile wallet app, select the card you would like to pay with, and either click when prompted on your phone or tap your phone on the payment terminal. Leave your wallet at home and pay with your phone! It's easy, safe, and convenient.

How do I add my Connected Credit Union debit or credit card?

For Apple Pay: open the Apple Wallet app, tap the + sign, then tap Debit or Credit Card, and finally tap Continue. After you have added your card information to your mobile wallet, you will need to follow the mobile wallet's instructions to finalize the verification process.

For Samsung Pay: open the Samsung Pay app, tap Menu, then Cards, then Add card, and finally tap Add credit/debit card. After you have added your card information to your mobile wallet, you will need to follow the mobile wallet's instructions to finalize the verification process.

For Google Pay: open the Google Wallet app,  tap Add to wallet +, then Payment card, and finally tap New debit or credit card. After you have added your card information to your mobile wallet, you will need to follow the mobile wallet's instructions to finalize the verification process.

Learn More 

 

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

uChoose Rewards with PayPal

Now you can Pay with Rewards when you check out with PayPal

uChoose Rewards is now better than ever with the ability to Pay with Rewards when you check out with PayPal. Just add your uChoose Rewards-enrolled debit card to your PayPal wallet to start using points wherever PayPal is accepted. Once you add your debit card to your PayPal wallet, you will receive a confirmation both on-screen and through email.

Enroll in uChoose Rewards ADD CARD TO PAYPAL WALLET

This benefit is automatically available to all members now, and there is no fee to use it! There are no minimum point balances to meet. You can choose how many points to apply to each purchase. And, if you don't have enough points, or prefer not to use them at all, the balance can be paid with your uChoose Rewards-enrolled debit card. It's that simple!

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

New Scam Targeting Mainers

Working together to protect your finances and your privacy

 

Here are a few tips to remember in today’s digital world.

• Never share personal information—including financial accounts—with anyone. Your credit union will not call you and ask you to disclose or verify this information. Neither will a government agency, the IRS, or the police.
• Only answer phone calls from numbers you recognize. If you are uncertain about the questions being asked, hang up and call your credit union or the organization using a phone number found through a trusted source, such as the company’s official website or a financial statement.
• Never open attachments or click on links from unknown individuals or companies as it could enable malicious software.
• Use strong passwords, change them often, and do not include personal information.  Avoid recycling passwords.
• Utilize two-factor authentication for your financial accounts. This adds another layer of protection.
• Always update the security on your electronic and mobile devices.
• Never allow an outside source access to your computer, if you are told you have a virus.  Run your own anti-virus scan and always refer to a trusted source for things such as this.
• Be aware of fraudsters contacting you indicating that your financial institution is being investigated and that if you do not help them or if you contact anyone, you could possibly be charged with a crime. Fraudsters will try to create fear and urgency to get you to do what they want, don’t fall for this.

Be smart, be aware, and more importantly, be safe as we navigate this digital world together.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Affordable College

When Your Dream College Isn't Affordable

College financial aid letters force many students into making hard decisions. If your dream college or university isn’t offering enough financial aid, should you take on more debt to pay for your education there, or fall back to a more affordable school?

Unfortunately, there’s no easy answer. Before making your choice, consider these tips:

1. Compare Financial Aid Packages

Write down the amount of financial aid each school has offered (scholarships, grants, etc.), then preferred loans (federal Perkins loans and subsidized Stafford loans, whose interest is paid by the government while you are in school), and finally other loans. Compare this data with the school’s cost of attendance (tuition and fees, room and board, books and supplies, etc.). Which aid package will really save you the most out of pocket?

2. Review Your FAFSA

Are there reasons why you need more aid since filing your Free Application for Federal Student Aid (FAFSA), such as a job loss? If so, ask the school’s financial aid office if they will review the package they’ve offered.  It is also important that you do not borrow more than you need.  It is worth reviewing your budget to see if you can decrease your spending/expenses instead of borrowing more money. Be sure to exhaust grants, scholarships, and work-study opportunities which do not have to be repaid. These sources of financial aid can reduce the amount you will have to borrow or pay out of pocket.

3. Apply For Our Scholarship

Connected Credit Union grants four $1,000 scholarships to qualified students looking to pursue post-secondary education or graduate degree. The applicant must be a member, must have been accepted to an accredited college, university or technical school and must demonstrate passing grades in all subjects.

SCHOLARSHIP APPLICATION

4. Explore private student loans

If you still need additional funds to cover your educational expenses, private student loans can be used as a supplement. Typically, you can apply for private student loans at any time before or during the year, but it's recommended that you apply early (at least 45 days before the start of the semester) to ensure that you receive the funds in time to pay for the academic period.

Explore Student Loans

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

File Your Taxes Early

Four Reasons to File Your Taxes Early

1. Get Your Refund Faster

Since many people tend to procrastinate, you can get your refund much sooner. The fastest method to receive your refund is to file electronically and have your refund deposited directly into your Connected Credit Union account with direct deposit. Working with Connected CU, the IRS will transmit your refund directly to your desired account. Our routing and transit number 211287353 and your account number are all you need.  It can take several weeks longer if you opt for a paper return.

2. More Time to Pay

If you end up owing a balance to the IRS, you will have more time to save money for your payment by filing early. This allows three to four months of extra time that you wouldn’t have had if you had filed later. Filing early will let you know exactly how much you owe to the IRS.

3. Easier Scheduling a Tax Preparer

Accountants and tax professionals are also first come, first serve. Their schedules can fill up by the time you reach out to them if you wait too long. If you aren’t completely confident when filing your taxes, hiring someone can help you accurately complete your form.

4. Prevent Identity Theft

As soon as a criminal gets access to your Social Security Number, they can do a lot of damage. If they file with your Social Security number before you do, the IRS will decline your return since their records show you’ve already been paid. You haven’t, but the criminal has been. It can take months to clear this up with the IRS. If you can, file your taxes early and prevent the fraudsters from successfully filing a fraudulent return.

LEARN MORE ABOUT FILING YOUR TAXES ONLINE

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

IRS Scams

IRS Scams To Watch Out For

Scammers may contact you via phone, email, or even US mail delivery, pretending to be the IRS. E-mails will often ask you to click on a link, while phone calls typically claim that you owe taxes and they ask you to verify personal information. These scammers have been known to use scare tactics and create a sense of urgency to get people to comply. The IRS won't contact you by phone or email. If you are contacted please do not engage. Below are some tips for how to proceed:

 

What You Should Do:

• Verify the number of the letter, form, or notice by going to the IRS website.
• Know that the IRS will contact you by mail instead of calling about unpaid taxes.
• Understand that the IRS will not threaten to have the police arrest you.

What You Shouldn't Do:

• Do not trust the caller ID. Scammers often use spoofing to manipulate the caller ID you see.
• Avoid clicking on any links claiming to be from the IRS in an email or text message.
• Never pay money immediately. Do your research to make sure that it is actually the IRS contacting you.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Tax Scams

Tax Scams to Watch Out For

Suspended/Cancelled Social Security Number

A new social security scam is based around a robocall that claims your social security number is going to be suspended or canceled because of owed taxes. The scam uses fear tactics to trick recipients into calling the number back and giving away personal information. However, your social security number will never be suspended and the IRS will only contact you through the mail or in person.

Digital Messages

Another scam is fraudsters pretending to be the IRS by sending you an email or text message reminding you to file your taxes or claiming to have information about your refund. However, if you click the link in the message to file your taxes you will be brought to a spoofed site.  A spoofed site is a site that is almost identical to the original site but is run by scammers.  The site will send scammers any information you input making it easy for them to steal your identity. The message may also contain malware that would infect your computer and allow fraudsters to steal your data, such as passwords and PINs. The IRS will not send unsolicited emails or any other digital message such as text or social media.

Fake Letters

Since the IRS typically only sends letters, fraudsters have begun sending letters claiming to be from the Bureau of Tax Enforcement. However, the Bureau of Tax Enforcement does not exist. Official IRS letters will also have a notice (CP) or letter (LTR) number on the top or bottom right-hand corner of the letter. You can verify this number by going to the IRS website.

Ghost Tax Preparers

Ghost Tax Preparers are fraudsters claiming that they are professional tax preparers. However, they may charge for a percentage of your refund, claim fake deductions to boost refunds, and/or direct the refund into their account instead of yours. Ghost Tax Preparers also refuse to sign a return, making you responsible for their errors. Before hiring someone to help you file your taxes, ensure they have a valid Preparer Tax Identification Number (PTIN). If you are looking for a certified tax preparer, you can search through the IRS Directory of Federal Tax Preparers with Credentials and Select Qualifications.

We’re Here to Help!

From answering your questions about fraud prevention to helping you take the proper steps in the event you are the victim of a scam, our member service team is ready to help you.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Online Shopping Tips

Online Credit Card Shopping Tips

Using your credit card online can be scary, especially with so many different types of scams and phishing attempts online trying to steal your information. We’ve got some tips and tricks to help you use your credit card to shop safely, online. 

1. Don't shop on public devices

You shouldn’t do your online shopping on public devices, such as a computer at your workplace or school. Websites often save login information. Therefore, the next person to use that device may be able to access your account and credit card information. Even if you do log out and clear your browsing history, hackers may have been monitoring the keystrokes you used in order to steal your personal information. 

2. Check for the 's'

When it is time to enter your credit card information online, take a look at the URL. Make sure it starts with https:// rather than http://. The ‘s’ stands for secure, confirming that your information is encrypted. The ‘s’ is not a guarantee that the transaction is 100% safe, but it is an added layer of protection.

3. Don't click on suspicious links

If you receive a suspicious email with a link, do not go shopping by directly clicking the link.  Even if it is a well-known company, do not click the link. It could be fraudulent and a phishing attempt to get your information. Instead, navigate to the website yourself to do your online shopping. This way you know you are going to the correct website.

4. Print your receipts

After you’ve used your credit card to make the purchase, print off a copy of your receipt or confirmation. Make sure to compare the amount on your receipt to your billing statement and verify that they match.

5. Reward yourself

Connected Credit Union's VISA credit card is the easiest way to manage your lifestyle and you'll earn rewards simply by using it for your everyday purchases - even when shopping online.  A low interest rate and 24/7 fraud protection are just a few of the perks that go along with being a Connected Credit Union cardholder. Go ahead, reward yourself today!

Learn more Scorecard rewards

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Prize Scams

Prize Scams

Prize scams are scams where fraudsters attempt to gain personal information or money by saying that you have won a fake prize or by tempting you to give up your personal information to enter a contest. We have listed a few tips below to help you avoid becoming a victim of a prize scam:

• Never pay a fee or give out account information to receive your prize.
• Don't give out sensitive personal information to enter a contest or sweepstakes.
• Research the organization that has sent you a prize or contest information. Contact the organization to verify if the prize or contest is legitimate.
• Notify a postal inspector if you have received the prize scam in the mail.
• Check the postage on your prize notice. If it was sent bulk rate, then chances are it is a scam.

We’re Here for You!

If you do become a victim of a prize scam, notify Connected Credit Union immediately. Call the Augusta Branch at (207) 623-3857 or the Winslow Branch at (207) 872-2636 during business hours. Monitor your accounts for any unauthorized activity and ask us to provide heightened scrutiny of your accounts. You can also temporarily, freeze your credit through each of the three major credit bureaus: Experian, Equifax, and TransUnion. It won’t impact your score, but it will prevent new credit from being taken out in your name. There is no fee and you can unfreeze it at any time. This is a very important step in protecting yourself and your good credit.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

New Scam Targeting Members

New Scam Targeting Members

Don’t Be the Next Victim!

Connected Credit Union has seen an increase in scams targeting our members over the past month. The newest scam is a phone scam where members are told that Connected Credit Union is being investigated by a federal agency.

The Scam:

Members are called by the scammers and told that their financial institution is under investigation and that they will need to sign into their online banking account. A third person then joins the call and pretends to be a federal agent who mentions that there have been numerous complaints about Connected Credit Union. The member is instructed to go immediately to the credit union and take out all of their money. The scammers stress that the member cannot say why they are taking their money out, because the teller they are speaking to may be the person under investigation. The member is then instructed to use a bitcoin machine or wire the money to the scammers to "keep it safe."

How to Protect Yourself:

• Hang up immediately on any phone call that is suspicious.
• Be cautious of spoofing or the process of scammers manipulating the caller ID to be someone else.
• Never provide your personal information such as credit union account information or online banking login credentials to someone you do not know or trust.
• Do not send money to someone you do not know and trust, especially if told to wire money, use a bitcoin machine, or purchase prepaid cards.
• Never log in to your online banking with someone else accessing your computer.
• Say no to scammers asking for remote access to your computer.

We’re Here for You!

If you do become a victim of this or another scam, notify Connected Credit Union immediately. Call the Augusta Branch at (207) 623-3857 or the Winslow Branch at (207) 872-2636 during business hours.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Brute Force Attacks

Brute Force Attacks

A brute force attack occurs when fraudsters use trial and error to gain your card information after infiltrating a merchant's payment system. The goal is to perform fraudulent card not present transactions by combining the correct card number, expiration date, and verification number.

 

Protect yourself from Brute Force Attacks with these tips:

• Create strong passwords and update them regularly. We've compiled 4 Tips for Creating Strong Passwords to help you avoid choosing simple passwords that can be easily guessed by hackers.
• Enable and use Multi-Factor Authentication on your accounts which adds another layer of protection. Multi-Factor Authentication requires both your password and a special time-sensitive code sent to your cellphone or email prior to logging in. This extra step may help prevent scammers from accessing your online accounts. 
• Make sure you keep your smartphone and other electronic devices up to date with the latest software and security updates.
• Do not click on any suspicious links sent from unknown sources because they may be a phishing scam. For more information, check out our blog Don't Fall Victim to Phishing Scams.

 

We’re Here for You!

If you do become a victim of a brute force attack, notify Connected Credit Union immediately. Call the Augusta Branch at (207) 623-3857 or the Winslow Branch at (207) 872-2636 during business hours. Monitor your accounts for any unauthorized activity and ask us to provide heightened scrutiny of your accounts.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Benefits of Shared Branching

Benefits of Shared Branching

 

As a credit union member, with Shared Branching you are able to access your Connected Credit Union account at any participating credit union like it is one of our branches. Wherever you are, you can find a credit union near you! 

• With nearly 170 shared branch locations, Maine’s credit unions have almost three times more locations than any single bank in Maine by “sharing their branches.” That’s the fourth largest branch network in the country with live teller service.
• Getting cash is quick and convenient at more than 250 SURF ATMs – the largest surcharge-free ATM network in Maine!
• There are more than 5,000 Shared Branching locations across the nation and globally. Find a Shared Branching location near you online or text your zip code to 91989 to find nearby ATM and Shared Branch Locations.
• When you visit a Shared Branching location, you can access your accounts, deposit checks, and make loan payments just like you can at your home credit union. Whether you’re traveling out of town or moving away to college, you can keep your money right where it is.
• Shared Branching is free! It's all about giving you the best service at no cost to you!

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

 

Data Breach

5 Steps to Take After a Data Breach

Step 1: Identify what information was breached

A data breach occurs when a business or organization is hacked and a scammer steals a customer's personal data, such as credit and debit card numbers. When you are notified of a data breach, make sure to verify if your information has been stolen and what sensitive information the scammers might have taken. Companies are required to inform you if you may have been impacted by a data breach and what information of yours may be at risk.

Step 2: Change your impacted passwords

To prevent the fraudsters from gaining unauthorized access to your accounts through your stolen passwords from the breach, you should immediately change the password on every site where you use it. When choosing a new password, avoid simple passwords that can be easily guessed. For example, your password shouldn't include birthdays, family members' names, phone numbers, etc. Longer passwords are more secure than shorter passwords. Ideally, your password should be between 8 and 20 characters, including a mix of upper case letters, lower case letters, numbers, and special characters. Read our blog on creating strong passwords for more tips!

Step 3: Freeze your credit

You can temporarily, freeze your credit through each of the three major credit bureaus: Experian, Equifax, and TransUnion. It won’t impact your score, but it will prevent new credit from being taken out in your name. This will prevent your personal information that was compromised in a breach from being used by fraudsters to take out loans or open up credit cards in your name. There is no fee and you can unfreeze at any time.

Step 4: File an identity theft report

Identity theft happens when a scammer has stolen your personal information and pretends to be you to apply for credit or make purchases. If you fall victim to identity theft, you can File a Report online with the Federal Trade Commission (FTC) which will help provide you with a recovery plan and help walk you through each of the steps you will need to take. 

Step 5: Monitor your accounts

If you do become a victim of a data breach that compromises your account, card information, or online banking passwords notify Connected Credit Union immediately. Monitor your accounts for any unauthorized activity and ask us to provide heightened scrutiny of your accounts. Call the Augusta Branch at (207) 623-3857 or the Winslow Branch at (207) 872-2636 during business hours.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Phishing Scams

Don't Fall Victim to Phishing Scams

Phishing scams are emails sent by scammers that attempt to steal your personal information or download malware onto your computer or device. Phishing emails will often have a sense of urgency, encouraging you to take an action immediately without stopping to think, such as clicking a link or downloading an attachment.

Recognize the common signs:

• Urgent or emotionally appealing language
• Requests to send personal or financial information
• Unexpected attachments
• Untrusted shortened URLs
• Email addresses that do not match the supposed sender
• Poor writing/misspellings

Avoid becoming a victim of a phishing scam:

• Check the email address to verify the email was sent from a credible source; fake emails can be off by as little as one character.
• Do not click on any suspicious links asking you to verify your account information or respond to any emails asking for your personal information such as your social security number, debit card number, or online banking login information.
• Enable and use Multi-Factor Authentication on your accounts to add another level of security in the event that your login credentials were stolen.
• Report suspicious messages by using the “report spam” feature. If the message is designed to resemble an organization you trust, report the message by alerting the organization using their contact information found on their webpage.
• Immediately delete any suspicious emails and block the sender. Don’t reply or click on any attachment or link, including any “unsubscribe” link. The unsubscribe button could also carry a link used for phishing. Just delete.

We’re Here for You!

If you do become a victim of a phishing scam, notify Connected Credit Union immediately. Call the Augusta Branch at (207) 623-3857 or the Winslow Branch at (207) 872-2636 during business hours. Monitor your accounts for any unauthorized activity and ask us to provide heightened scrutiny of your accounts. You can also temporarily, freeze your credit through each of the three major credit bureaus: Experian, Equifax, and TransUnion. It won’t impact your score, but it will prevent new credit from being taken out in your name. There is no fee and you can unfreeze at any time. This is a very important step in protecting yourself and your good credit.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Linking to Payment Platforms

How to Link Your Account to Payment Platforms!

How to link to Venmo

1. Log in to your Venmo app or download from your app store.

2. Tap the  tab at the bottom right of your screen.

3. Tap the settings gear in the top right corner.

4. Tap Payment Methods.

5. Tap Add a bank or card then select Bank.

6. Select Manual Verification.

7. Enter your account information including the routing number: 211287353.

8. In 1-3 days confirm the two small deposits sent to your account via Venmo.

 

How to link to PayPal

1. Log in to your PayPal account or register to create a PayPal account.

2. Click the Wallet tab at the top of the page.

3. Click Link a bank on the side of the screen.

4. Search for Connected Credit Union in the list of financial institutions.

5. Click Link your bank another way towards the bottom of the screen.

6. Enter your account information including the routing number: 211287353.

7. In 1-2 days confirm the two small deposits sent to your account via PayPal.

 

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Beneficiary vs. Joint Owner

Beneficiary vs. Joint Owner

Do you know the difference between having a joint owner and a beneficiary on all of your accounts?

We break it down for you in simple terms here:

Joint Owner

A joint owner on your account is someone with whom all funds are shared during your lifetime. This is a great option for two people who want to share an account and funds. For example, a couple could have a joint account to save together for a common goal or to pay household bills.

 

Beneficiary

A beneficiary named on your account allows you to choose who will have access to your funds after your passing. This is a great option for providing your loved ones with your clear intentions after you are gone.

 

Naming a joint owner or beneficiary is easy, contact the credit union today for details.

Augusta Branch: (207) 623-3857 • Winslow Branch: (207) 872-2636

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Avoid Becoming a Victim of Identity Theft

Avoid Becoming a Victim of Identity Theft

Identity theft happens when a scammer has stolen your personal information and pretends to be you to apply for credit or make purchases. We have listed a few tips below to help you avoid becoming a victim of identity theft.

• Shred credit offers, account statements, expired credit cards, and anything else with your personal information to keep those documents from falling into the wrong hands.
• Do not forget to collect your mail every day and place a hold on your mail if you are away for several days.
• Review your credit report once a year and report any discrepancies you find.
• Do not keep your Social Security card in your wallet and only give out your Social Security number when absolutely necessary.

We’re Here for You!

If you do become a victim of Identity Theft, notify Connected Credit Union immediately. Monitor your accounts for any unauthorized activity and ask us to provide heightened scrutiny of your accounts. You can also freeze your credit score. It won’t impact your score, but it will prevent new credit from being taken out in your name. There is no fee and you can unfreeze at any time.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Online and Mobile Banking

5 Reasons to Enroll in Online and Mobile Banking

1. Access your account 24/7 from anywhere!

Our Digital Banking Platform is a safe, online banking service with multiple levels of security. Real-time information offers you the convenience of performing many personal banking functions whether you’re at home or on the road. Experience the convenience of banking anywhere!

2. Transfer Funds 

Quickly and easily transfer funds between your Connected Credit Union accounts with online banking. You can even schedule transfers to occur between accounts on specific dates. Save yourself a trip to one of our branches and manage your money all from the ease of your computer.

3. Schedule Bill Payments

Payment Connection is a free bill-pay service available on our online banking platform. Skip writing out the same checks month after month and use Payment Connection. Schedule one-time payments or recurring payments and avoid late payments and late fees. Paying your regular monthly payments has never been easier.

4. Set Up e-Alerts

Don't be caught unprepared! Our customizable e-alerts, available through online banking, can alert you to a low balance or high balance in your account and more! e-Alerts are a great way to manage your accounts. Set it and forget it, we'll do the rest!

5. Mobile Deposit

Deposit checks from the comfort of your own home using Mobile Deposit. After enrolling in Online Banking, download our mobile app. Select Deposit, choose an account for your deposit and enter the amount on your check. Make sure to include your signature, the date, and “For Mobile Deposit Only CCU” on the back of your check. Finally, take clear photos of the front and back of your check and submit your deposit!

Enroll in Online Banking Download our mobile app

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Soft Pull vs. Hard Pull

Credit Score: Soft Pull vs. Hard Pull

Soft Pull

A soft pull of your credit is when an inquiry is made of your credit score but does not affect your score in a negative way.

Soft pulls are typically made when:

• You check your credit score through Experian, Equifax, or TransUnion.
• A background check is run on your behalf
• You receive a pre-qualification offer from a credit card company
• You open up a utility account
• You get a new insurance policy

Hard Pull

A hard pull of your credit is when the inquiry of your credit score does affect your credit. A hard credit pull might impact your score negatively by a few points. Too many hard pulls within close range of each other can be bad for your credit. It is recommended to space out hard pulls by at least six months as hard pulls will stay on your credit report for at least two years.

Hard pulls are typically made when:

• You apply for a credit card
• You apply for a loan, such as an auto loan or student loan
• You apply for a car lease
• You apply for a mortgage
• You apply to rent an apartment

Learn more about your credit score in our blog: What is a FICO® Credit Score & How is it Calculated?

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Debit Card FAQs

Debit Card FAQs

What are my daily limits on my Connected Credit Union Debit Card?

Connected Credit Union has a daily Point of Sale (POS) limit of up to $1,200 per day and a daily ATM withdrawal limit of up to $510 per day.

 

What if I need to make a large purchase that is more than my debit card limit?

Call the credit union at 207-623-3857 in Augusta or 207-872-2636 in Winslow prior to making the large purchase. Daily debit card limits may be increased until the end of the day.

 

Will my debit card work if I am traveling?

Please notify the credit union of where you are traveling and how long you will be gone.

 

What account does my debit card pull funds from?

Your Connected Credit Union debit card will automatically pull funds from the checking account it is attached to during a POS transaction. When you are using your Connected Credit Union debit card at an ATM, you have a choice of which account to pull funds from.

 

What happens if my debit card is lost or stolen?

To report a debit card lost or stolen, please call 1-800-472-3272 (during non-business hours). Otherwise, please contact the credit union (during regular business hours) at 1-800-464-3773. Reporting promptly may limit your liability.

 

How do I receive Fraud Alert texts?

Connected Credit Union will send a Fraud Alert activation text when you first receive your debit card. Reply YES to the text message in order to receive alerts when there is possible fraud associated with your Debit Card. It is important that you respond to any Fraud Alert texts in a timely manner by following the instructions in the alert. Inform us of any changes to your cell phone number.

 

How do I earn debit card rewards?

Learn more in our past blog Earn Debit Card Rewards about how you can start earning rewards through uChoose Rewards with your debit card when you sign for your purchases instead of using your PIN.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Running Debit as Credit

Running Debit as Credit

Should I run my Debit Card as Credit?

When using your Connected Debit Card at a store, you are probably asked the question "Debit or Credit?" You may think that because you are using your Debit Card, you can only run it as debit. This is not the case. In fact, there are many benefits to choosing to run your debit card as credit. 

Is there added Protection & Security?

If you use your Connected Debit Card at a store and enter your PIN number, you may be more susceptible to fraud and may become liable for any fraudulent charges. May card processors offer zero-liability policies when running your debit card as credit. If your Connected Debit Card and/or PIN number becomes lost or stolen, report it immediately. Call the Main Office (207) 623-3857 or the Winslow Branch (207) 872-2636 during business hours or 1-800-472-3272 during non-business hours.

Will I be charged an interest rate?

Unlike traditional credit cards, running your debit card as credit does not add to your credit balance. Instead, the money comes out of your checking account like normal. However, instead of pulling the funds immediately, you will typically have to wait a few days.

Does this affect my credit score?

No running your debit card as credit does not impact your credit score. Since you are not actually borrowing any money, your credit score will not be affected. For tips on how to boost your credit score, check out our blog: What is a FICO® Credit Score & How is it Calculated?

Can I Earn Debit Card Rewards?

The biggest perk of running your Connected Debit Card as credit is earning rewards points for your qualifying purchases. With our uChoose Rewards program, you can earn points when you sign for your purchases instead of entering your PIN to earn points. Remember, Sign, don't PIN - It's a WIN/WIN! To learn more about our Debit Card Rewards program, read our blog: Earn Debit Card Rewards

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Earn Debit Card Rewards!

Earn Debit Card Rewards

Did you know you can earn rewards with your debit card?

With our uChoose Rewards program, you can earn points on qualifying purchases when you use your Connected Credit Union Debit Card!

Do I automatically earn rewards?

To start earning rewards when using your Connected Credit Union Debit Card, you must enroll online at uchooserewards.com. 

How do I earn points?

When using your Connected Credit Union Debit Card, sign for your purchases instead of entering your PIN to earn points. Remember, Sign, don't PIN - It's a WIN/WIN! For every $2.00 spent with your Connected Credit Union debit card, you will earn 1 point through uChoose Rewards. Sometimes merchants periodically offer more points per dollar spent when shopping with them.

How do I redeem my points?

Log in to your uChoose Rewards account to redeem your rewards! You must have a total of 2500 points to be eligible to redeem for cash, merchandise, travel, gift cards, and more! There are thousands of vendors offering merchandise through uChoose Rewards. Redeeming for cash is not immediate, and will take a couple of business days to enter your account. 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Become a Member

Becoming a Member is Easier Than Ever

Who can become a Connected Credit Union member?

Connected Credit Union’s field of membership is for anyone who lives, works, worships, or attends school in Kennebec, Somerset, Lincoln, and Waldo Counties as well as all those who are eligible to become members of the Maine Education Association, employees of the Maine Education Association, the Maine Education Association and any of its governance affiliates, employees of the credit union, employees of the Kennebec Valley Chamber of Commerce, employees of Employment Specialists of Maine; also eligible are immediate family members including:

• Spouses, children, siblings, parents, grandparents, and grandchildren, including step and adoptive relationships of persons eligible for membership.
• Persons living in the same residence maintaining a single economic unit with persons within the credit union's field of membership.

Can I apply online?

Yes! You can fill out our membership application online at your own convenience. The online membership application takes 5-10 minutes to complete. Once you submit your application, a member service representative reach out to you as soon as possible to finalize your membership!

   APPLY ONLINE

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Credit and Debit Card Scams

Credit and Debit Card Scams

Scam #1: Skimming

Skimmers are a popular tool used by scammers to steal your credit and debit card information. The scammer places the skimmer device over a legitimate card reader in places such as a gas station or an ATM. Then when you swipe your card through the skimmer, the scammer has access to your credit and debit card information. When using gas station terminals and ATMs, be cautious of your surroundings and examine the card reader. Another way to avoid skimmers would be to make sure to use your EMV chip and insert your Connected Credit Union credit or debit card. Chip readers typically make it more difficult for scammers to skim your card data. 

Scam #2: Account Takeover

Account takeovers are when scammers are able to hack into your account via phishing scams, physically stealing your card information or other types of fraud. The scammer then uses your account information by pretending to be you to make purchases or commit identity theft. By using Online Banking or Mobile Banking for your debit card transactions and eZCard Info for your credit card transactions, you can monitor your accounts for any suspicious activity. Alert the credit union as soon as possible if you notice anything that might be fraudulent. 

To report a debit card lost or stolen, please call 1-800-472-3272 (during non-business hours).  Otherwise, please contact the credit union (during regular business hours) at (207) 623-3857 for Augusta or (207) 872-2636 for Winslow. Reporting promptly may limit your liability. To report a lost or stolen credit card, please call 1-800-991-4961.

Scam #3: Data Breaches

A data breach occurs when a business or organization is hacked and a scammer steals a customer's personal data, such as credit and debit card numbers. When you are notified of a data breach, make sure to verify if your information has been stolen and what sensitive information the scammers might have taken. Make sure to change any passwords that have been compromised immediately and monitor your accounts for any signs of fraud. 

We’re Here to Help!

From answering your questions about fraud prevention to helping you take the proper steps in the event you are the victim of a scam, our Member Service Representatives are ready to help you.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Strong Passwords

Tips for Creating Strong Passwords

1. Avoid Simple Passwords

When choosing a password, avoid simple passwords that can be easily guessed by hackers. For example, your password shouldn't include birthdays, family member's names, phone numbers, etc. Your passwords should be more creative than just Password123.

2. Use Long Passphrases 

Longer passwords are more secure than shorter passwords. Ideally, your password should be between 8 and 20 characters, including a mix of upper case letters, lower case letters, numbers, and special characters. Using a passphrase is a great way to create a long, secure password. A passphrase is normally a phrase or group of unique words used as a phrase such as "Playing+baseball+with+the+cat". Adding characters within the passphrase helps to increase the security. When choosing a passphrase, avoid well-known and common phrases such as popular quotes or song lyrics. 

3. Regularly Update Your Passwords

You should update your passwords at least every three months. Regularly updating your passwords limits your chances of hackers gaining unauthorized access to your accounts. Changing your passwords immediately is very important after you have been notified of a security breach or a phishing attempt. 

4. Enable Two-Factor Authentication 

As an added level of security and protection, opt in for two-factor authentication when it's available. Two-factor authentication often requires both your password and a special time-sensitive code sent to your cellphone or email prior to logging in. This extra step may help prevent scammers from accessing your online accounts. 

5. Let a Password Manager Do the Work

A password manager creates, stores and fills passwords for us automatically. Then we each only have to remember one strong password—for the password manager itself. Search trusted sources for “password managers” like Consumer Reports, which offers a selection of highly rated password managers. Read reviews to compare options and find a reputable program for you.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Social Media Scams

Popular Social Media Scams

Popular Scam #1 - Quizzes, Polls, and Games

A popular way for scammers to collect information about you is through social media. The increase of fun quizzes, polls, and games that require you to give away seemingly harmless information (such as the type of your first car or the name of your first pet) provide scammers with personal information as these are very common answers to security questions meant to provide an extra layer of security to your accounts.  By searching your public social media account, a scammer could easily find the answers to your security questions and gain access to your personal accounts.

Popular Scam #2 - Clickbait Articles

Many posts on social media include links to articles. Some of these links are harmless, but others can be links to malware. The scammers will use clickbait article titles hoping you will open the link, where you will be sent to a malicious website that could attempt to download a virus to your computer. Be extra cautious when clicking any links connected to posts on social media.  Shopping through social media can also be highly suspect.  Always go directly to the website using a web browser if you are shopping online.

Popular Scam #3 - Hacked Messages

With a hacked message, a scammer will impersonate a friend and send you a suspicious message. The message will often include a malware link asking you to click on something or the message may ask you to send or wire money to help a friend.  If you receive a message that seems out of character, reach out to your friend personally to verify the validity of the message.

Protect yourself from these social media scams with these tips:

• Review your privacy settings on your social media sites.
• Do your research before buying a product from a post or ad on social media.
• Avoid "friending" people you do not know or trust.
• Do not use the same password for multiple sites.
• Change your password regularly.
• Don't provide personal information to strangers on social media.

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Buy vs. Lease

 Should You Lease or Buy Your Next Vehicle?      

Important things to consider when Buying your next vehicle:

• Are you content with driving the same vehicle for many years?
• Are you a high-mileage driver?
• Do you want to take ownership of a vehicle?
• Do you want the freedom to sell or trade your vehicle at any time?
• Can you afford a downpayment to keep your payments affordable?

Important things to consider when Leasing your next vehicle:

• Would you prefer driving a newer vehicle every few years?
• Are you a low mileage driver? 
• Will the lease provide you with a considerably "lower payment" than a purchase and is it worth the fees involved to lease?
• Is a downpayment required?
• Do you always want a warranty on your vehicle?

Test Out Our Lease vs. Buy Calculator

With Connected Credit Union's Lease vs. Buy Calculator, we will calculate your estimated monthly payments and your total net cost. By comparing these amounts, you can determine whether leasing or buying is the better option for you.

Try It

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Financing a Vehicle

Tips for Financing Your Next Vehicle

1. Review your credit score

Before you begin car shopping, look over your credit report from one of the three credit bureaus: Experian, Equifax, and TransUnion. You are entitled to receive one free credit report from each of the credit bureaus per year. Make sure that all the information on your credit report is correct. If there are any mistakes, you will want to get them corrected before you start your car shopping process.

2. Get pre-approved

Take the stress out of car shopping when you get pre-approved for your auto loan with Connected Credit Union. Contact our friendly loan team by calling (207) 623-3857 for the Augusta Office and (207) 872-2636 for the Winslow Office.

3. Do your research

Visit the NADA site to determine the value of your trade-in, as well as the value of your next purchase. This easy proactive approach can help to prevent you from paying too much for your next vehicle while ensuring you get a fair price for your trade. When you've found the perfect vehicle you can also use Carfax to learn the vehicle history before making your purchase.

4. Find the best deal

There's more to buying a car than just getting a low interest rate. You need options and we have several, including dealer partnership lending with our local auto dealerships!  Find your vehicle at the dealer, be sure and tell them you are a Connected Credit Union member. Our partnership with them provides you with peace of mind, knowing your auto loan is at your local credit union, financed with people you know and trust.

5. Compare Loans

Determining which loan provides you with the best value involves more than simply comparing monthly payments. Use our Loan Comparison Calculator to sort through the monthly payments, fees, and other costs associated with getting a new loan. By comparing these important variables side by side, our calculator can help you pick the loan that works best for you.

Learn More

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Personal Finance Apps

How to Safely Use Personal Finance Apps

If you use a personal finance app, such as RobinHood, CashApp, Venmo, Paypal, and more, there are some important steps you can take to protect your personal data.

1. Examine the terms of service for apps you are using.

• Before agreeing to download, review the app’s data retention policies.
• Determine whether the app resells your information.

2. Find out what security features the app offers.

• Take advantage of any features that ensure your personal information remains safe.
• If you can, opt in to two-factor authentication for an extra level of protection.

3. Always confirm the validity of the app.

• Make sure you are downloading the correct app from your app store.
• Don't provide any personal or financial information unless you trust the organization.

4. Change your passwords regularly and avoid repeating passwords.

• Highly secure passwords often contain letters, numbers, and special characters.
• Don’t store passwords on your phone or in a location where others might be able to access them.

5. Do not send money to someone you do not know and trust.

• Always double-check the recipient's information before sending a payment to ensure it is going to the intended person.
• Never share your account information and/or login credentials with anyone.

6. Check your account regularly to verify your transaction history.

• Doing routine checks can help you quickly spot fraud and take action.

• Your financial institution is unable to help retrieve any funds sent through a Mobile Payment App. You must report fraudulent transactions and scams via the support chat in the Mobile Payment App.

Contact us right away if you feel your information has been compromised!

Main Office: 207-623-3857       Winslow Branch: 207-872-2636

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Online Banking Scams

Popular Online Banking Scams

Popular Scam #1 - Requesting Access

The scammer will request access to your online banking account to deposit money. However, once you have granted the scammer access, they transfer money from another one of your accounts instead of depositing funds. The scammer will then claim they "deposited" too much money in your account and you need to send the money back.

Popular Scam #2 - Computer Virus

The scammer will contact you claiming your computer has a virus affecting your online banking account. In order to fix it, they need to gain remote access to your computer. However, once you grant the scammer remote access into your computer and online banking account, they are able to steal your personal information and funds.

Protect yourself from these online banking scams trying to access your account with these tips:

• Avoid using the same password for multiple sites.
• Change your password regularly.
• Use security questions that scammers can't easily find the answer to online.
• Don't provide personal information to someone you don't know or trust.
• Be cautious of the caller ID.  Scammers can manipulate the caller ID through spoofing.
• Say no to scammers asking for remote access into your computer.
• Never log in to your online banking with someone else accessing your computer. 
• It's always better to play it safe, which means if something doesn't feel right, hang up the phone or end the communication.
  It's best not to engage if you are skeptical for any reason.

Contact us right away if you feel your information has been compromised!

Main Office: 207-623-3857       Winslow Branch: 207-872-2636

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

YOUR FICO SCORE AND YOU

What is a FICO® Credit Score & How is it Calculated?

A FICO® score is a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers’ FICO scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit. Here is how a FICO score is calculated:

35%  Payment History: The first thing any lender wants to know is whether you’ve paid past credit accounts on time.

30% Amounts Owed: When a high percentage of a person’s available credit has been used, this can indicate that a person is overextended, and is more likely to miss or make late payments.

15%  Length of Credit History: In general, a longer credit history will increase your score.

10% Credit Mix In Use: FICO Scores will consider your mix of credit cards, retail accounts, installment loans, finance company accounts, and mortgage loans.

10% New Credit: Research shows that opening several credit accounts in a short period of time represents a greater risk – especially for people who don’t have a long credit history.

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.

Budgeting made easy!

3 POPULAR BUDGETS YOU CAN STICK TO

Creating your budget can be hard, and following it can seem even harder. With so many different types of budgets you can use, choosing one that will work for you may seem impossible. We’ve got three popular and helpful budgets that suit different types of financial goals and personalities.

 

Pay Yourself First Budget  

Best For: Savers

Steps:

1. Start with your monthly income
2. Pay yourself first, by subtracting money for your savings goals
3. Pay Regular Bills
4. Decide what to do with the surplus, you’ve already met your savings goals so it’s up to you!

50/20/30 Budget

Best For: Spenders

Steps:

1. Start with your monthly income
2. 50% of your income goes to housing, transportation, utilities, and groceries
3. 20% of your income goes to savings, retirement, and debt repayment
4. 30% of your income goes to lifestyle expenses, such as entertainment and childcare

Zero-Based Budget

Best For: Regular Monthly Income

Steps:

1. Start with your monthly income
2. Subtract out your monthly expenses, such as rent and food expenses
3. Subtract out your variable expenses, such as entertainment and clothing expenses
4. Account for your savings goals, such as an emergency fund
5. Have a bottom line of $0 – every dollar should be accounted for

 

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.