scam phone calls

How to Protect Yourself from Phone Scams: Verifying Calls from Your Credit Union

April 9, 2025

Have you ever received a call from someone claiming to be from your credit union? In today’s world, it’s important to know how to verify these calls to keep your personal and financial information safe. Fraudsters often pretend to be financial institutions to steal sensitive details, so staying informed is your best defense.

What is KYC and Why Does It Matter?

KYC (Know Your Customer) is a process that Ontario credit unions use to confirm the identity of their members. It helps prevent fraud and financial crimes, keeping your accounts secure. While it’s normal for a credit union employee to ask for some information when they call you, it’s equally important to make sure they are who they say they are.

How to Verify a Caller’s Identity

If you get a call from someone claiming to be from your credit union, follow these steps to stay safe:

  • Pause Before You Share – Never give out your account number, PIN, or passwords right away. A real credit union employee won’t ask for sensitive details out of the blue.
  • Ask Questions – A legitimate employee should be able to provide their name, department, and the reason for their call.
  • Hang Up and Call Back – If you’re unsure, politely end the call and dial your credit union’s official number from their website or the back of your debit card. This ensures you’re speaking with a real representative.

What to Do If You Suspect a Scam

If something doesn’t feel right, take action immediately:

1. Do not share any personal or financial details.

2. Hang up the phone.

3. Call your credit union directly using an official phone number.

4. Report the suspicious call to your credit union so they can warn other members.

Staying Safe in the Digital Age

Your credit union will never ask for passwords, PINs, or one-time verification codes over the phone. Being cautious and verifying calls helps protect you from fraud. If you ever have concerns, don’t hesitate to visit your local branch or check your credit union’s website for more fraud prevention tips.

By staying alert and informed, you can keep your personal and financial information secure. If you have any questions, reach out to your credit union—we’re here to help!