Financial thieves are always looking for ways to exploit your personal information and hard-earned money. The good news: there are strong practical steps you can take, and RCU is here to help! 

Check Washing 

Check washing happens when a thief steals a paper check and uses chemicals to erase the ink. They then rewrite it - often changing the payee and amount and cash it as if it were legitimate. 

ACH Payments

To help protect your accounts from fraud, we encourage our members to avoid mailing paper checks and instead use ACH payments. ACH is a secure and reliable way to send funds electronically - directly from your account to another. 

With our CU Online platform or mobile app, you can easily set up ACH payments using the "Bill Pay" feature. Need help setting up ACH payments? Contact us or stop by any Railway Credit Union branch - our team will be happy to walk you through it.

Vishing & Smishing

Scammers use phone calls (vishing) and text messages (smishing) to pose as trusted companies and even local numbers. Their goal is to trick you into giving up personal or financial information.

• Be cautious of unexpected calls or texts.
• Don't click on links in suspicious messages.
• Verify the sender by using the official phone number or website.
• Never share one-time passcodes unless you started the transaction.
• Watch for urgent or emotional messages - scammers often use fear to pressure you.

If you have questions about fraud or think you may be a victim, don't hesitate to get in touch with our Fraud Prevention Team right away.

Kelly - Risk & Compliance Specialist 701-557-7139	Dustin - VP of Risk Management NMLS#1189073 701-887-2388

Navigating the world of finances can be challenging at any stage of life. Dustin Bitz, Vice President of Asset Protection is a Certified Credit Union Financial Counselor and can assist you in obtaining your financial goals.  He has earned the credentials of Certified Credit Union Financial Counselor (CCUFC) by completing a formal program aimed at identifying consumers’ financial challenges, providing intervention, and offering assistance not typically offered by for-profit financial institutions.

He can assist you with:

• Credit score enhancement
• Debt management
• Creating a monthly budget
• Basic money management
• Creating financial goals 

To take advantage of our financial counseling services please call Dustin Bitz at 701-877-2388 or via email at dustin@railwaycu.com

In many ways, budgeting is the roadmap of your finances.  After all, moving in the right direction is easy, but it doesn’t necessarily get you to where you think you’re going.  It’s important to set aside enough money for bills and still save a little for that proverbial rainy day.   Start by simply tracking your monthly spending and then write up a plan and stick to it.  Remember that monthly budgets do not need to be complicated; they just need to be something you can follow as a guide.  Don’t lose sight of your goal; spend what you need, save what you can.    

Information you will need to start a simple budget.

• Determine your income.
  • All sources of monthly income (amount of your take-home pay, or net pay)
• Determine your expenses.
  • Track all your expenses for three months to determine where your money is going.
  • Begin to categorize your expenses into 3-5 categories, this is your choice.
    • Fixed expenses
      • Examples: rent, mortgage, auto loan payment, etc.
    • Variable expenses
      • Examples: food, clothing, entertainment, etc.
    • Unplanned expenses
      • Examples: medical costs, auto repairs, home repairs, etc. 
    •  Savings goal(s)
      • You always want to pay yourself when establishing your budget.

There is no right or wrong way to create a budget.  Just remember that a budget is your personalized spending plan that needs to work for your situation.  Find one that works for you and do your best to stick with it. 

Here you will find links to financial education resources.

Consumer Financial Protection Bureau: 

https://www.consumerfinance.gov/

https://www.consumerfinance.gov/consumer-tools/educator-tools/resources-for-older-adults/money-smart-for-older-adults/

Financial Calculators:

https://www.dinkytown.net/

Credit Bureaus:

https://www.experian.com/

https://www.equifax.com/

https://www.transunion.com/?atvy=%7B%22229412%22%3A%22Experience+A%22%7D

https://www.annualcreditreport.com/index.action