3 thoughts on “How to protect your money and your identity during the coming year

  1. The mint app. kind of concerned because it ask information from my bank but it helps me budget my account and does all the financial good things which also helps me remember of my due bills. The only thing I don’t like is them trying to go into my bank account to help me. What does EECU advice against or in favor of this?

    • There are many aggregation services like Mint.com that use all of your account logins to present your balances in one place. We offer something similar at EECU in online banking called Financeworks. It’s good to be wary of sites that want all of your account logins and, before you use them, be sure you know who you are dealing with. Mint.com is owned by Intuit, so it is a reputable company and you should not have to worry about them intentionally misusing data. Yodlee is another established and reputable company who provides similar services.

      Even if you are using a reputable company, you should be aware that there is always the possibility of a breach. If this were to occur, your user names and passwords would potentially be exposed. The likelihood is low, but that is a risk you have to be willing to accept when using a personal financial management tool.

      While we do not have control over companies accessing data where you have provided logins, if there is a problem, we can help you change your login credentials for your EECU account(s).

      In summary, we do not discourage using reputable personal financial management tools. We do recommend being sure you know the company you are dealing with and making sure you understand and can accept the potential risks of use. Being willing to accept those risks can make monitoring your finances in one place a much easier feat.

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