If you’ve only ever used banks, you might not know the difference between credit unions and banks. Or you might not think there is much of a difference… but there most certainly is, and we’re here to help you UNcover the truth.

To Own or Be Owned

Credit Unions: Credit unions are member-owned, which means you’re not just a person with an account—you’re a partial owner! Credit unions make decisions driven by the best interests of their members. UNlike banks, there are no shareholders involved so you can rest assured there’s no secret agenda or ulterior motives. Plus, credit unions are not-for-profit organizations.

Banks: Because banks are for-profit corporations, there are shareholders involved. That means people you’ve never met call the shots and make decisions involving your money. Relationships at a bank are more transactional, driven by their need to generate profits. UNlike a credit union, you have no ownership within a bank.

 

A Personal Touch

Credit Unions: Personalized service is the name of the game at credit unions. They are often smaller and more community focused, allowing for authentic, in-person connections with real people. Building relationships and providing UNmatched member experiences matters more than numbers and transactions.

Banks: Larger in scale, banks often lack the personal touch that credit unions are known for. Getting into a relationship with a bank over a credit union is like going on blind dates over and over again—you never really know what you’re going to get.

Would you rather hang out with a nameless, faceless employee at some big business or with a friendly, UNapologetically local person who might even be your neighbor?

 

Oh Jeez, Here Come the Fees

Credit Unions: Known for no (or low) fees, credit unions like to avoid extra charges just as much as you do! Because there are no shareholders to impress, there’s fewer fees eating away at your funds!

Banks: Overdraft charges. ATM fees. Monthly maintenance fees. Banks are notorious for their nickel-and-diming ways. Your money could be quietly disappearing from fees you didn’t even know existed.

 

The Choice Is Yours

If boring, meaningless interactions with customer services reps are your thing, a bank might be best for you. However, if you want personable service and real people in your corner, it’s time to try a credit union!

At Community Choice, we pride ourselves on being able to provide UNexpectedly delightful experiences for our members every time. You can expect VIP treatment from a team of UNbankers who work for and care about you. Plus, you’ll have a say in your financial future as a part-owner of the credit union.

Ready to join us at Community Choice, aka the UNbank?

 

Become an UNbanker

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post Credit Unions vs. Banks: What’s the Diff? appeared first on Community Choice Credit Union.

Whether you’re looking for love online or scrolling through social media with an open heart, it’s important to be aware of popular romance scam tactics. Here are three red flags to watch out for so you don’t fall head over heels for a scammer that’ll hurt your heart and your bank account.

SEND FUND$

It’s not UNcommon to fall in love over the phone or on the internet these days. Evolving technology has made building connections easier than ever, especially for scammers. With fake profiles and sweet words, they target their victims, gain their trust and establish a relationship. Then, they’ll begin to ask for money, commonly citing medical emergencies or other urgent scenarios. Do you see the red flag waving?

If someone you just met and only know online suddenly asks you to send money via cryptocurrency, wire transfer or, most frequently, via gift cards, it’s time to take a step back and reassess the relationship.

2 MYSTERIOUS 4 U

A little mystery is fun. A lotta mystery is concerning. If your date’s digital footprint is practically non-existent or they’ve evaded making plans to talk on the phone, chat on a video call or meet in real life, it’s a red flag—especially if they’re asking you for money.

You may think you know who you’re talking to, but the internet makes it easy for scammers to play the part of trustworthy people. Do some research and see if you can learn more about your mysterious mate. If you can’t, and they refuse to divulge personal details or connect face-to-face, you’ll know it’s not meant to be.

POSER

If you think you’re dating a famous person, no, you’re not.

Impersonating high-profile celebrities and influencers is an admittedly amateur move, but it doesn’t stop scammers from trying to pull it off. Think about it: why on earth would a celebrity be asking YOU for money? Either they have a terrible manager, weird social media habits and poor financial skills… or your A-list lover is a scammer in disguise.

No matter what a scammer says or how guilty they may try to make you feel, know that the safest thing you can do is end the relationship and cease communications.

All romance scams should be reported to the FBI’s cybercrime division, IC3. If you’ve been affected by fraudulent activity, IC3 offers helpful information on next steps, future prevention and counselling services here.

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post UNscam Your Love Life appeared first on Community Choice Credit Union.

Don’t get it twisted—all scams belong on the naughty list. However, there are a few extra naughty scams we’ve spotted sneaking around this holiday season. Make sure you’re aware of these trending holiday scams so you can get through the season UNscathed.

Gift Card Scams

Gift cards are a staple on everyone’s lists this time of year. However, they’re not just popular with shoppers… they’re popular with scammers. Their ease of use and versatility has launched them to the forefront of various scams. If you ever receive a phone call, email, text message or other communication about gift cards, that should be an immediate red flag.

If you’re reading a message about a gift card you’ve “won” but you never entered to win, it’s a trap. As sweet as a free gift card would be, slow down and think about it. It sounds too good to be true, and it is.

Another tip to keep in mind: technology is evolving, and so are scammers. Artificial Intelligence (AI) enables scammers to create targeted attacks that mimic the appearance of legitimate senders. Scammers often impersonate popular companies like Amazon, Walmart, Apple Store or Google Play. The links they want you to click on to claim your gift card are fake, harmful and part of a cyber attack method known as “phishing.”

Don’t click on ANYTHING in those messages. Delete the message immediately.

Scammers will say whatever it takes to get you to buy gift cards. Once you’ve bought them, they bully or mislead you into sharing the card number and PIN. Scammers often create a sense of urgency to keep you from thinking rationally.

This sense of urgency can also come from forms of impersonation. Scammers will pretend to be loved ones and convince their victims that they need help getting out of a financial situation. When the conversation leads to intimidation, things can get really scary.

If you are talking to someone about something financial and you feel intimidated at all, just hang up. It isn’t rude—it’s your safest option.

  Charity Scams

UNfortunately, the season of giving enables scammers to prey on people’s kindness by creating fake charities. Be on the lookout for copycats. Always double-check the URL and charity name before donating. If something looks a little bit off, it’s probably a scam.

Pro-tip: A great resource for checking the legitimacy of a charity is www.give.org, which is run by the Better Business Bureau.

Crowdfunding sites like GoFundMe are also popular with scammers. A few bad apples sometimes sneak their way through these sites with fake stories, laughing their way to the bank as they cash in on other’s goodwill. If you don’t personally know the person whom the crowdfunding is for, pause until you can verify their identity.

Let’s bring it back to gift cards. Many charity scams also utilize gift cards. Don’t donate to anyone who insists you pay only by gift card, cash, money wires or cryptocurrency. If you are donating to a charity and they insist on any method of payment besides a credit or debit card, this is a red flag.

Make a List, Check it Twice

These UNjolly scammers aren’t always creative. Beyond the gift cards and fake charities, some scammers will simply pretend to be a financial institution to gain access to your account.

They target victims by asking them to “confirm” account details in full or ask them to verify a one-time passcode they then use to take over the account. When in doubt, hang up and call the main line of your trusted financial institution. They can verify the legitimacy of the request and will not be offended if you did hang up on them. It’s better to be safe than scammed.

The biggest lesson to remember when protecting yourself from these holiday scams: never give anyone a gift card or large amount of cash via phone or online.

Don’t let undercover grinches ruin your holiday spirit. If you’re UNsure if you’re facing a potential scam, don’t hesitate to reach out to our highly skilled, fraud-fighting team of UNbankers. Give us a call at (515) 334-8100.

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post Check Twice: Scams from the Naughty List appeared first on Community Choice Credit Union.

Interested in earning? You’re in the right place! Community Choice offers a variety of products that can help you grow your money.

Whether you’re at the start of your savings journey or you’re a seasoned pro, it’s important to understand your options so you can choose the product that’s best aligned with your financial goals.

Let’s break down two of our most popular investment options: CDs and Money Markets.

What’s a CD?

Back in the old days, we used to have these shiny circles called compact discs. You could even—well, we can get into those CDs another time. The CD you’re here to learn about is a Certificate of Deposit (CD).

A CD is a specified amount of money deposited for a pre-determined length of time. It earns a higher annual percentage yield than a regular savings account, and once it’s there, you don’t have to worry about it.

CDs are an UNdeniably great option for people looking to lock in a rate and earn in a more predictable way. You can technically access this money if absolutely necessary, however, penalties may be imposed for early withdrawal.

What’s a Money Market?

Back in the old days, this little piggy would go to the market. Now, he’s a hot shot investor. How?!

Money Market Accounts—they’re one of the most popular investment choices. You’ll earn more than a traditional savings account, and, UNlike CDs, you can make periodic deposits and withdrawals without being penalized.

Interest rates typically aren’t as high as they can be for CDs. These accounts are also more flexible, making this a more suitable option for short-term investors and little piggies alike.

Ready to Grow Your Money?

Heck yeah. Click here for a CD, here for a Money Market Account or give us a call at (515) 334-8100 if you’d like to learn more.

The post CDs vs. Money Markets appeared first on Community Choice Credit Union.

Close your eyes and think about Artificial Intelligence (AI). What comes to mind?

More than likely, you pictured UNcanny images of gangly, grinning figures with fifteen fingers and aggressively airbrushed features. AI-generated images often appear this way, but generative AI is also gaining traction with scammers.

AI scams targeting financial institutions may not be on your radar, but they should be. Here’s how you can avoid these trending scams and the bad actors behind them.

Artificial Attacks, Real Consequences

Technology is evolving, and so are scammers. Gone are the days of telltale phishing signs like misspelled words, improper grammar and blatantly incorrect personal information. Now, these email and cellular attacks pop up with some pretty darn convincing content.

AI enables scammers to craft targeted attacks by cloning text, images, audio and even video to mimic the appearance of a legitimate sender. To the UNsuspecting eye, these attacks may not even register as attacks. They’re designed to fool you by mimicking trusted sources so you’ll share sensitive personal information that may put your account at risk.

How to Avoid AI Scams

Scammers work hard, but we work harder. Our UNbankers are trained to identify suspicious activity and prevent AI-based phishing attempts. We encourage everyone to have a healthy level of skepticism when it comes to communications claiming to be from us.

That doesn’t mean you should ignore everything that you receive from Community Choice Credit Union—please don’t, that would really bum us out—but do take the time to truly make sense of what you’re reading or being asked to do.

If you believe you’re at risk of being scammed, reach out to us at (515) 334-8100 or stop into your local UNbanking Center so we can help protect your account. Even if you’re slightly UNsure about something, give us a call and we’d be happy to answer any questions you may have.

The More You Know

The FBI’s cybercrime division, IC3, has great resources if you’d like to learn more about safe online practices and how to report suspected fraud. If you have been affected by fraudulent activity, they also offer helpful information on next steps, future prevention and counselling services. Check all of that and more out here.

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post UNscam With Us: Artificial Intelligence appeared first on Community Choice Credit Union.

When it comes to protecting yourself from the sizzlin’ summer sun, you already know the basics: wear sunscreen, ginormous sunglasses and a big floppy hat. But when it comes to protecting yourself from this season’s sneakiest scammers, do you know how to keep your accounts from getting burned?

Don’t sweat it if you’re not sure. We’ve got this easy, breezy guide so you can kick back and UNwind with a scam free summer.

1-800-IMPOSTER-CALLS

Imagine getting a phone call from someone who says they’re with Community Choice and—uh oh—there’s fraud on your account. The caller says they need your help right away. If you don’t act quickly, this could get worse. They just need a few details about your account. If you don’t answer their questions, you account will remain at risk.

Better tell ’em everything, right?

Wrong. Using rapid-fire communication and creating a sense of urgency is how scammers convince people to share sensitive information about their accounts. If someone says your account is under attack, why wouldn’t you want to do whatever you could to stop it?

Unfortunately, instead of stopping fraud, this often results in fraudulent activity. So, how the heck do you avoid being bamboozled by imposter callers?

Hang Up—It’s Better Safe Than Sorry

When in doubt, hang up and give us a call directly. We won’t be offended if you do hang up on an UNbanker in the name of trying to protect your account. It’s good to be overly cautious when it comes to stuff like this.

Remember…

• Community Choice will never, ever call you to ask for sensitive information such as your full account number, online banking password, card expiration date or CVV code—but a scammer would!
• No matter what the caller ID says or how convincing the caller sounds, do not share that information over the phone.
• Seriously, don’t hesitate to hang up!

Call us at (515) 334-8100 to be sure that you’re on a legitimate call with one of our UNbankers. If you receive any suspicious calls, texts, emails or voicemails, contact us immediately.

Pro-tip: Our number is on the back of your card, so you always know how to reach us.

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post UNwind with a Scam Free Summer appeared first on Community Choice Credit Union.

Our UNbanking Boxes are a major talking point.

Some people love ’em—we do!—and some people, well… let’s just say they are still skeptical. There’s some confusion surrounding these boxes and the UNbankers (that’s what we like to call our employees) within them.

Let’s UNpack the most common feedback and debunk some UNbanking Box Myths.

Are robots taking over?

We hope not! There’s a misconception that our UNbanking Boxes are run by robots. Some people think these robots are based overseas (or maybe even outer space). We’re not opposed to astronaut robots joining our team in the future, but, for now, our Contact Center runs the show.

Their homebase is our Johnston branch. They’re a super fun, totally human bunch and you can catch them starring in our social media content when they’re not expertly helping members.

_{If they are robots, they’re really, really good at hiding it.}

Are UNbanking Boxes safe to use?

Many people have expressed security concerns over using UNbanking Boxes. We’ve worked hard to ensure that the safety and privacy of our members remains intact with this new technology. That includes the use of:

• Sound cones / sound masking
• Volume controls and optional headphones
• Automated services to prevent counting errors

Our UNbanking Boxes actually provide an extra layer of protection for our members by reducing the risk of general human error.

What the heck do these UNbanking Boxes do?

Here’s a handy dandy walkthrough! You’ll have the option to speak with an UNbanker or to use the machine like a traditional ATM. If you choose to work with someone, you’ll be connected via video call to an UNbanker in our Contact Center.

From there, you can:

• Make cash and check deposits
• Make withdrawals
• Make payments
• And so much more!

Our UNbanking Boxes can assist you with nearly everything our teller line can do. They’re a great resource for getting things done quickly and efficiently.

What’s the point of having tellers in the lobby if I have to use an UNbanking Box?

Think of our UNbanking Boxes as an extension of our in-person teller line. The UNbankers within them are highly trained and can help reduce wait times in our branches. They’re also an irreplaceable asset in our smaller branches where teller lines aren’t feasible. By utilizing this form of member service we are able to offer full service UNbanking in more locations, making it easier for our members to do business with us.

We hope this information encourages you to check ’em out at your next visit to a branch or drive-up. Say hello to our UNbanking Box crew and tell them The UNblog sent you! Still not a fan of this service? That’s OK. We just ask that you’re respectful about it. If they are robots, we don’t want to make them mad… Just in case, you know?

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post Debunking UNbanking Box Myths appeared first on Community Choice Credit Union.

Think you’re savvy at spotting scams? Unfortunately, scams are constantly evolving. As technology advances, so do scams. It’s crucial to keep up with the latest tricks, so check out these three trending scams we’ve been seeing recently and how to prevent them from happening to you!

 Search Engine Ad Scams

 

• What it is: Search engine ad scams are ads that appear at the top of search results. Scammers buy these ads and embed malicious links within them. When clicked, they redirect to fraudulent websites, infecting computers with malware.
• How you know it’s a scam: These ads usually have a few things in common. They often look unprofessional, have spelling errors, make unrealistic claims, or advertise something that’s too good to be true.
• What to do: Avoid clicking on ads in search results if they seem suspicious. Instead, simply type the website URL directly into your browser.

 Impersonation Scams

 

• What it is: Impersonation scams are a type of hoax where scammers pretend to be someone you know or a trusted organization. They trick you into sharing your personal or financial information. This could be over the phone, through email, via text and more.
• How you know it’s a scam: Scammers usually pressure you to act immediately. They may threaten you, offer something unbelievable, or will reach out unsolicited to demand personal information or payment.
• What to do: Verify the identity of the person or organization contacting you. Never share personal information or make payments based on unsolicited contacts.

 QR Code Scams

 

• What it is: Phony QR codes can be found on the internet and in day-to-day activities that actually lead people to fraudulent websites or malware downloads. For example, scammers may cover official QR codes with fake ones on parking meters, menus, or magazines.
• How you know it’s a scam: Be wary of QR codes that appear to have been tampered with, suspicious URLs, and unsolicited QR codes that are sent via text message or email.
• What to do: Before scanning a QR code, verify the source. Use a QR code scanner app that detects the safety of links.

 

Now that you know how to spot these three trending scams, you’re ahead of the game and less likely to fall victim to them. Thanks for UNscamming with us! Remember to always be wary of unsolicited phone calls, suspicious sites, janky QR codes, and fishy ads. When something feels off, trust your gut.

Not sure if it is a scam or not? Need to report a scam? Visit these websites for more information:
Scam Spotter   |   FBI Internet Crimes   |   Federal Trade Commission

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post Spot (& Stop) These Trending Scams appeared first on Community Choice Credit Union.

Spring is in full swing. With the new season comes warmer weather, brighter days, and…cleaning. Although, if you’re a business owner, your home isn’t the only thing that may need some maintenance. Here’s how you can get started on Spring Cleaning Your Business!

 

Revisit Your Business Goals

If you didn’t set any business resolutions earlier this year, that’s okay. It’s better late than never. If you already did, great! Setting goals and resolutions is the easy part. The hard parts are checking in and following through. Spring is a great time to check in with your resolutions, both professionally and personally. Assess how you’re doing, see where you’re at, and problem solve how to pivot if needed to get where you want to be.

 

Reconcile Accounts

We’ve all got old bags of clothes in our closet or boxes of stuff to donate around the house. When it comes to your business, the equivalent is often old accounts that need to be closed. If you aren’t using certain accounts anymore, spring cleaning your business is a great opportunity to take the time to get rid of them.

 

Start Shreddin’

Your business likely needs a few similar chores and tasks done to it as your home does. For instance, get rid of old items you don’t use anymore, upgrade your furniture if needed, and, most importantly, finally get rid of all of those old documents and files! Definitely whip out the shredder for anything confidential.

 

Get Technical

The times are always a-changin’, especially when it comes to technology. If you want your business to keep up with technology and its advancements, you should invest time and effort into doing just that. Take the time to investigate what new applications may be out there that could help your business run more effectively. Think of this aspect of spring cleaning your business as a way of getting rid of obstacles in your business’ path toward maximum efficiency.

 

Meet With Financial Partners

Don’t wait until the end of the year. Use this springtime to check in with your financial partner to go over what may be changing this year or what’s new in your industry. Communication is always key when keeping your business running as smoothly as possible.

 

Give Us a Call

Need a financial partner? Give us a call at Community Choice! Our Treasury Management team can help with any of your current needs or get the ball rolling on spring cleaning your business.

 

Treasury Management Team:

Cameron Fitzgerald
Director of Treasury Management
Cameron.Fitzgerald@comchoicecu.org
515-334-8102

Mark Phillips
Treasury Manager
Mark.Philips@comchoicecu.org
515-334-8130

 

 

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post Spring Cleaning Your Business appeared first on Community Choice Credit Union.

Community Choice has been UNbanking with businesses for decades but just over the last five years, we have put a major focus on our business services. If you own a local business in Iowa, keep reading to learn why you should #UNbankWithUs!

UNbank Your Business

We’ve been in this UNbanking business since 1953—that’s right, Community Choice is older than Oprah Winfrey! But recently, we’ve been focusing on local businesses more than ever. “Community” isn’t just in our name, it’s what we do and who we are. What better way to showcase this than by partnering with local businesses?

What We Offer

• • Deposit accounts: From operating checking accounts to money markets to CDs
  • Online banking
  • Mobile deposit
  • Remote deposit capture
  • Zero balance and sweep accounts
  • ACH distribution or collection for payroll or rent collection
  • Loan: term, line of credits

How We’re Growing

Here are a few great things we’re cookin’ up on the business side for 2024:

• • Fraud prevention tools: ACH and Check Positive Pay
  • Online domestic and foreign wires
  • Interactive and easy to navigate business landing page
  • More consistent industry content around how UNbanking can solve and enhance your business to meet your goals

Let’s chat!
Call us to chat about how we can help. At Community Choice, we’re ready to listen to you and your needs to find those hidden opportunities to help your business grow and flourish! Think of us as the “Miracle-Gro” for local businesses. 😎

Contact one of our UNbelievably talented UNbankers in Treasury Management:

• • Cameron Fitzgerald
    Director of Treasury Management
    515-334-8102
  • Mark Phillips
    Treasury Management Sales Officer
    515-334-8130

This blog is intended for educational purposes only. For details about specific products or services, see credit union for details. For questions about investments, please consult your financial advisor.

The post We’re Open for Business… for Businesses! appeared first on Community Choice Credit Union.