While Teens and Young Adults may be digital natives, their inexperience makes them susceptible to online scammers. In fact, according to a new report from the Federal Trade Commission, 40% of people age 20 to 29 indicated they lost money in fraud schemes in 2017 compared to 18% of people age 70 and older. While the results of the survey contradict the stereotype of tech-savvy young people, experts say younger consumers are far more open to sharing personal information online.

Here are some common scams targeting Teens and Young Adults to be on the lookout for to avoid becoming a victim.

Knock-offs

Scammers create online ads and online stores supposedly selling cheap designer goods, electronic gadgets and other luxury items. However, these companies are not licensed to sell those goods or the products are imitations.

Fake Scholarship Offers

With the rising cost of college to pay for, scammers use fake scholarship and financial aid offers to steal personal information from students.

Make Money Fast

Who wouldn’t want to make money easy and fast on the internet? So, cyber criminals promise non-existent jobs and get rich quick schemes. Victims are lured into giving away personal information or financial data with the promise of a well-paid job that will bring in lots of money in a short period of time or receive an offer to invest in a great opportunity with a huge payout. Although these scams may not target Teens and Young Adults, they may fall victim to them.

Contests

Aspiring young artists and writers are lured to arts and literature contests. The creative young people submit their works for a fee only to find out they need to send more money to see their writing published or to win an even bigger prize.

Acting & Modeling Scams

“A Talent Scout” is looking for America’s Next…fill-in-the blank. All that is required is paying for head shots or acting lessons upfront. And after handing over hundreds or thousands of dollars, no auditions or bookings occur. The acting and modeling industries are rife with these scams.

Employment & Training Scams

Enterprising Teens and Young Adults can find it difficult to find seasonal work, so online scammers offer jobs where they can work from home online. The only hook is they need to buy a bunch of products or pay for training up-front. Then, these unethical companies don’t deliver jobs or training as promised.

Online Auctions

There are at least two versions. First, after bidding on and winning an online auction, you find out the item doesn’t exist or never arrives. Or, the unsuspecting Teen or Young Adult sells their items online. The buyer says the payment is on the way and urges them to ship the item right away, but the payment never arrives.

To Good To Be True

While Teens and Young Adults maybe tech-savvy, their inexperience and online habits makes them highly susceptible to online and social media scams. Here are some tips to avoid becoming a victim:

  • If it looks to good to be true, it likely is. Stay away.
  • Look for online stores and auction sites with good reviews and ratings from real people
  • Walk away from a contest, job or scholarship offers that require you to pay upfront
  • Never give out your personal information unless you are confident you can trust the person or company you are interacting with

You can use your EECU debit card anywhere you see the Mastercard® logo whether you are traveling locally or abroad. And, here are three services to help you travel worry free:

#1 Stay Informed with Debit Card Activity Alerts

These customizable, real-time text and email alerts let debit cardholders proactively monitor their account. You can choose which alerts you want to receive and set the dollar amounts that will trigger certain alerts, which will be sent via text message or email.

  • To set-up the Debit Alert feature within online banking, select Additional Services > Debit Card Management > Debit Alerts. And within the mobile banking app, Debit Alerts can be found under More > Debit Card Management > Debit Alerts.

#2 Stay Aware with Debit Card Fraud Text Alerts

EECU provides automatic fraud detection and alerts for your debit card. If potential fraud is suspected, we will contact you immediately to help protect your account.

  • To set up the Debit Fraud Text Alerts quickly and easily click here.

#3 Stay in Control with Debit Card On/Off Switch

EECU debit cardholders have the ability to turn their debit card(s) ON or OFF. This feature lets you take control of your debit card and protect against unauthorized use. If you have misplaced your card, turn it to the OFF position. If you find it, and feel your account has not been jeopardized, turn it back ON and continue to use your card. If you use your card infrequently or are traveling without your card, turn it OFF. Then, turn it ON when you are ready to use it. You are in control.

  • In online banking, select Additional Services > Debit Card Management > Turn Debit Card On/Off. And in the mobile banking app, select More > Debit Card Management > Turn Debit Card On/Off

Lost or Stolen Credit or Debit Card

If you think your card has been lost or stolen, please notify EECU immediately to protect against any fraudulent activity, and get your card replaced.

  • Has your EECU credit card been lost or stolen? Contact our 24-hour hotline at 1-800-442-4757.
  • For a lost or stolen EECU debit card, call our Member Contact Center at 817-882-0800 and select “Option 2”.

Questions? Call our Member Contact Center at 817-882-0800 and we’ll be happy to assist you.

Enjoy your worry-free trip!

Got questions about home financing? We’ve got answers.

We know how difficult the home financing process can feel, whether you are buying a home, refinancing a mortgage or considering home renovations. Our mortgage experts will be on hand to answer any questions you may have and walk you through the process. Our goal is to make home financing faster and friendlier for you, with a loan that best meets your family’s unique needs.

Join us for Mortgage Open Houses and learn about:

  • Getting pre-qualified
  • Free no obligation mortgage review
  • What can you afford?
  • How much money you need?
  • How you can get HomeAdvantage1 Cash Rewards2 averaging $1,5003 on your next home?

There are two dates to choose from. And, there’s no need to RSVP—we’ll see you there.

Calendar Mortgage Open House:

EECU Alliance Financial Center

Date: Saturday, June 23

Location: 3451 Texas Sage Trail, Fort Worth, TX 76177

Time: 10:00 a.m. to 1:00 p.m.

 

EECU Burleson Financial Center

Date: Wednesday, June 27

Location: 750 NE Alsbury Blvd., Burleson, TX 76028

Time: 11:00 a.m. to 5:00 p.m.

Can’t make it? Don’t worry. Give us a call at (817) 882-0181 or visit our Home Loan Center online.

NMLS # 500516

 

1 HomeAdvantage is a registered trademark of CU Realty Services. The HomeAdvantage program is made available through a relationship between EECU and CU Realty Services. EECU and CU Realty Services are separate legal entities. 2 HomeAdvantage Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers and sellers are not eligible for Cash Rewards if they use an agent outside of the HomeAdvantage network. Using EECU for a purchase mortgage loan is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commission paid to the agent. Please consult with EECU for more details on how Cash Rewards will be paid. Cash Rewards are void where prohibited by law. 3 Cash Rewards example shown is based on a 3% agent commission rate and a purchase mortgage loan amount of $250,000. Since agent commissions rates vary, your actual Cash Rewards may vary accordingly. The Cash Rewards can be applied as a credit towards closing costs. Applicants are not entitled to cash back. Usual and customary buyer closing costs include, without limitation: escrow fee, appraisal fee, loan document preparation fee, recording fee, courier fee, and prepaid items such as flood and hazard insurance and ad valorem taxes. Subject to any home buyers or sellers who have already entered into a purchase contract and have otherwise qualified for the Cash Rewards program, the Cash Rewards program may be terminated by EECU at any time in its sole discretion.

Don’t leave home without your EECU credit card and debit card. And, please make sure you contact EECU before you leave. By letting us know when and where you are traveling, this will help ensure uninterrupted use of your EECU debit and credit card whether you are traveling domestically or internationally.

It’s easy, here’s how: Travel Notifications.

 

To set-up Travel Notifications for your EECU Credit Card, call our Member Contact Center at 817-882-0800.

 

To set-up Travel Notifications for your EECU Debit Card in online banking:

  1. Login to Online Banking at www.eecu.org
  2. Select Additional Services > Debit Card Management > Travel Notification
  3. Click on Add New Travel Notification
  4. Fill in your travel dates and add your destination(s)

 

To set-up Travel Notifications for your EECU Debit Card in mobile banking:

  1. Login to Mobile Banking with the EECU app
  2. Select More > Debit Card Management > Travel Notification
  3. Click on Add New Travel Notification
  4. Fill in your travel dates and add your destination(s)

 

Questions? Call our Member Contact Center at 817-882-0800 and we’ll be happy to assist you.

Please allow at least 48 hours prior to your departure for us to make sure your card(s) are noted with your plans and will be available during that time.

Safe travels!

Buying or selling a home can be complicated. Fortunately, you can get answers fast during our Real Estate Day featuring local real estate and mortgage experts. Discover a better way to buy or sell your home that could save you thousands of dollars. Plus, get answers to your questions, like:

  • What is my home worth?
  • What to expect from my local real estate market?
  • How to get started buying or selling your home?
  • How can I get HomeAdvantage1 Cash Rewards2 averaging $1,5003 on your next home?

By selecting the right people to guide you through the process, you will shorten the buy/sell timeline and smooth the move to your new home. We look forward to making home financing faster and friendlier for you.

There is no need to RSVP, we’ll see you there!

 

Calendar Real Estate Agent Day:

EECU Burleson Financial Center

Date: Saturday, May 19

Location: 750 NE Alsbury Blvd., Burleson, TX 76028

Time: 10:00 a.m. to 1:00 p.m.

 

Can’t make it? Don’t worry. Give us a call at (817) 882-0181 or visit our Home Loan Center online.

NMLS # 500516

1 HomeAdvantage is a registered trademark of CU Realty Services. The HomeAdvantage program is made available through a relationship between EECU and CU Realty Services. EECU and CU Realty Services are separate legal entities. 2 HomeAdvantage Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers and sellers are not eligible for Cash Rewards if they use an agent outside of the HomeAdvantage network. Using EECU for a purchase mortgage loan is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commission paid to the agent. Please consult with EECU for more details on how Cash Rewards will be paid. Cash Rewards are void where prohibited by law. 3 Cash Rewards example shown is based on a 3% agent commission rate and a purchase mortgage loan amount of $250,000. Since agent commissions rates vary, your actual Cash Rewards may vary accordingly. The Cash Rewards can be applied as a credit towards closing costs. Applicants are not entitled to cash back. Usual and customary buyer closing costs include, without limitation: escrow fee, appraisal fee, loan document preparation fee, recording fee, courier fee, and prepaid items such as flood and hazard insurance and ad valorem taxes. Subject to any home buyers or sellers who have already entered into a purchase contract and have otherwise qualified for the Cash Rewards program, the Cash Rewards program may be terminated by EECU at any time in its sole discretion.

Are you in the market to buy or sell a home? Meet with local real estate and mortgage experts and discover a better way to buy or sell your home that could save you thousands of dollars. Plus, get answers to your questions, like:

  • What is my home worth?
  • What to expect from my local real estate market?
  • How to get started buying or selling your home?
  • How does EECU make home financing faster and friendlier?
  • How can I get HomeAdvantage1 Cash Rewards2 averaging $1,5003 on your next home?

There is no need to RSVP, we’ll see you there!

 

Calendar Real Estate Agent Day:

EECU Southlake Financial Center

Date: Friday, May 11

Location: 1460 W. Southlake Blvd., Southlake, TX 76092

Time: 3:00 p.m. to 6:00 p.m.

 

Can’t make it? Don’t worry. Give us a call at (817) 882-0181 or visit our Home Loan Center online.

NMLS # 500516

1 HomeAdvantage is a registered trademark of CU Realty Services. The HomeAdvantage program is made available through a relationship between EECU and CU Realty Services. EECU and CU Realty Services are separate legal entities. 2 HomeAdvantage Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers and sellers are not eligible for Cash Rewards if they use an agent outside of the HomeAdvantage network. Using EECU for a purchase mortgage loan is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commission paid to the agent. Please consult with EECU for more details on how Cash Rewards will be paid. Cash Rewards are void where prohibited by law. 3 Cash Rewards example shown is based on a 3% agent commission rate and a purchase mortgage loan amount of $250,000. Since agent commissions rates vary, your actual Cash Rewards may vary accordingly. The Cash Rewards can be applied as a credit towards closing costs. Applicants are not entitled to cash back. Usual and customary buyer closing costs include, without limitation: escrow fee, appraisal fee, loan document preparation fee, recording fee, courier fee, and prepaid items such as flood and hazard insurance and ad valorem taxes. Subject to any home buyers or sellers who have already entered into a purchase contract and have otherwise qualified for the Cash Rewards program, the Cash Rewards program may be terminated by EECU at any time in its sole discretion.

Get expert advice about buying, selling or using the equity in your home to your advantage from top local real estate agents and our mortgage experts. Whether you plan to purchase a home, stay in your home or are interested in a Home Equity Loan or Home Equity Line of Credit (HELOC), join us for our Real Estate Agent Days and let us help you get answers to your questions. Plus, you can discover how to get HomeAdvantage1 Cash Rewards2 averaging $1,5003 on your next home.

There’s no need to RSVP. We’ll see you there.

 

Calendar Real Estate Agent Days:

EECU Northside Financial Center

Date: Friday, May 4

Location: 301 NW 28th St. #121, Fort Worth, TX 76164

Time: 3:00 p.m. to 6:00 p.m.

 

EECU Saginaw Financial Center

Date: Saturday, May 5

Location: 717 W. Bailey Boswell Rd., Saginaw, TX 76179

Time: 10:00 a.m. to 1:00 p.m.

 

EECU Watauga Financial Center

Date: Saturday, May 5

Location: 7436 Denton Hwy., Watauga, TX 76148

Time: 10:00 a.m. to 1:00 p.m.

 

Can’t make it? Don’t worry. Give us a call at (817) 882-0181 or visit our Home Loan Center online.

NMLS # 500516

1 HomeAdvantage is a registered trademark of CU Realty Services. The HomeAdvantage program is made available through a relationship between EECU and CU Realty Services. EECU and CU Realty Services are separate legal entities. 2 HomeAdvantage Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers and sellers are not eligible for Cash Rewards if they use an agent outside of the HomeAdvantage network. Using EECU for a purchase mortgage loan is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commission paid to the agent. Please consult with EECU for more details on how Cash Rewards will be paid. Cash Rewards are void where prohibited by law. 3 Cash Rewards example shown is based on a 3% agent commission rate and a purchase mortgage loan amount of $250,000. Since agent commissions rates vary, your actual Cash Rewards may vary accordingly. The Cash Rewards can be applied as a credit towards closing costs. Applicants are not entitled to cash back. Usual and customary buyer closing costs include, without limitation: escrow fee, appraisal fee, loan document preparation fee, recording fee, courier fee, and prepaid items such as flood and hazard insurance and ad valorem taxes. Subject to any home buyers or sellers who have already entered into a purchase contract and have otherwise qualified for the Cash Rewards program, the Cash Rewards program may be terminated by EECU at any time in its sole discretion.

Are you considering the right time to buy or sell a home? A good first step is getting expert advice. Our personal mortgage advisors and valued real estate partners are here for you.

Join us for our Real Estate Days. Find out how to get started buying or selling your home and how EECU makes home financing faster and friendlier.

Plus, you can discover how to get HomeAdvantage1 Cash Rewards2 averaging $1,5003 on your next home.

There’s no need to RSVP. We’ll see you there.

 

Calendar Real Estate Days:

EECU Little Road

Date: Friday, April 27

Location: EECU Little Road Financial Center, 1253 N. Little School Rd., Arlington, TX 76017

Time: 3:00 p.m. to 6:00 p.m.

 

EECU Mansfield

Date: Saturday, April 28

Location: EECU Mansfield Financial Center, 1720 U.S. 287 Frontage Rd., Mansfield, TX 76063

Time: 10:00 a.m. to 1:00 p.m.

 

Can’t make it? Don’t worry. Give us a call at (817) 882-0181 or visit our Home Loan Center online.

NMLS # 500516

 

1 HomeAdvantage is a registered trademark of CU Realty Services. The HomeAdvantage program is made available through a relationship between EECU and CU Realty Services. EECU and CU Realty Services are separate legal entities. 2 HomeAdvantage Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers and sellers are not eligible for Cash Rewards if they use an agent outside of the HomeAdvantage network. Using EECU for a purchase mortgage loan is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commission paid to the agent. Please consult with EECU for more details on how Cash Rewards will be paid. Cash Rewards are void where prohibited by law. 3 Cash Rewards example shown is based on a 3% agent commission rate and a purchase mortgage loan amount of $250,000. Since agent commissions rates vary, your actual Cash Rewards may vary accordingly. The Cash Rewards can be applied as a credit towards closing costs. Applicants are not entitled to cash back. Usual and customary buyer closing costs include, without limitation: escrow fee, appraisal fee, loan document preparation fee, recording fee, courier fee, and prepaid items such as flood and hazard insurance and ad valorem taxes. Subject to any home buyers or sellers who have already entered into a purchase contract and have otherwise qualified for the Cash Rewards program, the Cash Rewards program may be terminated by EECU at any time in its sole discretion.

Homeownership is a dream of many of us. Owning a home means putting down roots and having a space that is truly yours. Unfortunately, there are unscrupulous lenders and home loan scams out there. That’s why we want to help you avoid becoming a victim.

Here’s how to avoid loan modification fraud, foreclosure rescue schemes, and mortgage scams:

  • Identify a reputable lender. Work with a financial institution that you have a relationship with, or have been referred to by a friend, real estate agent, accountant or attorney.
  • Don’t pay any fees upfront. Requesting fees upfront before the promised results are delivered is illegal, according to the FTC’s Mortgage Assistance Relief Services Rule.
  • Read before you sign. Don’t sign anything without reading—and fully understanding—the document. Consult your attorney if you have questions.

Next, familiarize yourself with these scams and rip-offs:

  • Bait and Switch: the lender offers you one set of loan terms when you apply, then pressures you to accept different terms when you sign to complete the transaction.
  • Loan Flipping: the lender encourages you to repeatedly refinance the loan and to borrow more money. Each time you refinance, you pay additional fees which increases your debt.
  • Foreclosure Rescue: the company promises to negotiate new terms for distressed homeowners. Instead, the companies do not deliver any assistance, often leaving homeowners in worse financial situations.
  • Predatory Lending: lenders that engage in hard-sell lending tactics, without providing details about all the loan terms, may be engaging in predatory lending.

The best way to avoid home loan scams – go with a trusted lender:

  • EECU is more than just a credit union—we’re your financial advocate. We care about each member on a personal level, which means taking the time to get to know their unique financial challenges and helping them attain their goals. We hope you will continue to look to EECU as your trusted partner and source of information, advice and personalized financial solutions. We thank you for your membership and participation in the success of your credit union.

About EECU Home Loans:

We examined how the home loan process could slow you down, and did something about it. This new standard is a faster and friendlier home loan experience. Streamlined technology makes the member experience faster and more efficient. Real people help make every step along the way easier, friendlier, and more enjoyable.

Discover the new standard in home loans. It’s worth smiling about.

 

Additional resources:

https://www.usa.gov/housing-scams (addresses housing scams, moving fraud, foreclosure scams, and rental scams)

https://www.usa.gov/identity-theft (addresses articles relating to ID theft, prevention, and reporting)

You may be asking yourself, which comes first finding a mortgage lender or a real estate agent? Do both at once at EECU on April 20th and 21st. We’ve arranged for you to meet with our mortgage experts and top local real estate agents. That way you can save time and money. Knowing how much of a home you can afford before looking at properties helps you and your real estate agent find a home you’ll love and one that meets your budget.

Join us for our Real Estate Agent Days. Get moving with a real estate agent and get prequalified for a mortgage. Plus, you can discover how to get HomeAdvantage1 Cash Rewards2 averaging $1,5003 on your next home.

There’s no need to RSVP. We’ll see you there.

 

Calendar Real Estate Agent Days:

EECU Hulen Financial Center

Date: Friday, April 20

Location: 6049 S. Hulen St., Fort Worth, TX 76132

Time: 3:00 p.m. to 6:00 p.m.

 

EECU Hurst Financial Center

Date: Saturday, April 21

Location: 1600 Campus Drive, Hurst, TX 76054

Time: 10:00 a.m. to 1:00 p.m.

 

Can’t make it? Don’t worry. Give us a call at (817) 882-0181 or visit our Home Loan Center online.

NMLS # 500516

1 HomeAdvantage is a registered trademark of CU Realty Services. The HomeAdvantage program is made available through a relationship between EECU and CU Realty Services. EECU and CU Realty Services are separate legal entities. 2 HomeAdvantage Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers and sellers are not eligible for Cash Rewards if they use an agent outside of the HomeAdvantage network. Using EECU for a purchase mortgage loan is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commission paid to the agent. Please consult with EECU for more details on how Cash Rewards will be paid. Cash Rewards are void where prohibited by law. 3 Cash Rewards example shown is based on a 3% agent commission rate and a purchase mortgage loan amount of $250,000. Since agent commissions rates vary, your actual Cash Rewards may vary accordingly. The Cash Rewards can be applied as a credit towards closing costs. Applicants are not entitled to cash back. Usual and customary buyer closing costs include, without limitation: escrow fee, appraisal fee, loan document preparation fee, recording fee, courier fee, and prepaid items such as flood and hazard insurance and ad valorem taxes. Subject to any home buyers or sellers who have already entered into a purchase contract and have otherwise qualified for the Cash Rewards program, the Cash Rewards program may be terminated by EECU at any time in its sole discretion.