Skimmers: What They Are & How To Spot Them

What is a Skimmer?

A skimmer is a device that is placed over a card reader, that scans your card information as it passes through. Thieves use these devices to steal your debit or credit card numbers, and make purchases with them at a later date. They are often placed on gas station fuel pumps, and are not easily detected.

If you have scanned your card through a skimmer, chances are you won’t know until you start seeing fraud on your account. Too many times, these devices are placed and not detected for weeks or months. This is why it is crucial to always keep an eye on your accounts, and make sure that every transaction is one that you made.

How to Spot a Skimmer

It can be almost impossible to tell if skimmer has been placed on a card reader. However, there are steps you can take to protect yourself.

Take A Closer Look – Check the card reader and machine for evidence that it has been tampered with. If there is an area that looks like it has been pried open, that is an immediate red flag. If the card reader itself looks bulky or out of place with a different color or material than the rest of the machine, that could be another sign of a skimmer.

Check The Sticker – Many gas stations are now putting stickers on their fuel pumps. If the sticker is torn, do not use that fuel pump. Even if there is a separate sticker placed that is not broken, you should not trust it.

Be Aware – Always be observant of your surroundings anytime you are making a purchase. If you are at a fuel pump or ATM, take a glance at the other machines nearby to see if those look similar to the one you are using. If not, don’t use either one.

Hide Your PIN – Along with the card reading devices, thieves will place a fake keyboard or camera nearby to capture your PIN. Anytime you enter your PIN, you should do so as if someone is looking over your shoulder. Cover the keypad with one hand as you enter your PIN with the other.

If you notice anything suspicious, you should immediately report it to the business. If you believe you have been a victim of debit/credit card skimming, please give us a call at 281.487.9333.

Reported Skimmers Found:
Seller’s Brothers/Valero Convenience Store
10990 Red Bluff Rd (intersection at Bay Area Blvd)

 

Sources:
https://www.pcmag.com/article2/0,2817,2469560,00.asp
https://www.creditcards.com/credit-card-news/gas-station-skimmer-fraud.php
https://www.consumer.ftc.gov/blog/2017/06/avoid-skimmers-pump
https://krebsonsecurity.com/tag/gas-pump-skimmers/

ACH Payments Posting Faster

Beginning September 15, 2017, merchants can choose to process a check you write or electronic payment you initiate on the same day that you make it.

What is ACH?

Automated Clearing House (ACH) is the network for electronic fund transfers for debit and credit transactions in the United States. Instead of using paper, such as cash or checks, ACH transactions are transmitted electronically, allowing for faster processing times. Direct deposit, bill-pay, or DPX Pay are all common examples of ACH transactions.

What’s changing?

Currently, the credit union posts all electronic debit transactions once per day, usually by mid-morning. As of September 15, the credit union will post all electronic debit transactions twice per day, once mid-morning, and again before the close of business.

How will this affect me?

Whenever you make an electronic payment to a person or business, the money might be taken out of your account sooner than you have experienced in the past. If the merchant or person that you are paying pays an extra fee, they can choose to receive their money faster. This will decrease the lag time experienced between making a payment, and seeing the money actually leave your account. If you have your payroll check direct deposited to GCEFCU, it will not be affected.

 

Source: Sonia Ponchak, VP Assistant Controller

September 8, 2017

Don’t Get Schooled by Education Expenses

Looking for a tax-advantaged college savings plan that has no age restrictions and no income phaseout limits — and one you can use to pay for more than just tuition? Consider the 529 college savings plan, an increasingly popular way to save for higher-education expenses, which have more than tripled over the past two decades — with annual costs (for tuition and fees, and room and board) of more than $45,000 per year for the average private four-year college.1

Earnings from 529 plans are not taxed when used to pay for eligible college expenses. And there are even consumer-friendly reward programs that allow people who purchase certain products and services to receive rebate dollars that go into state-sponsored college savings accounts.

At Gulf Coast Educators Investment Center, our advisors can help you compare different plans and determine which might be best for your personal situation. You may find that 529 programs make saving for college easier than before. You can read more about 529 plans by clicking here.

 

Sources:
1) The College Board, 2017
The information in this newsletter is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2018 Broadridge Investor Communication Solutions, Inc.

Securities offered through SWBC Investment Services, LLC, a registered broker/dealer. Member SIPC & FINRA. SWBC Investment Services, LLC is not affiliated with this institution. FUNDS SHOULD NOT BE CONSIDERED A DEPOSIT OR GUARANTEED BY THIS INSTITUTION, MAY LOSE VALUE, AND ARE NOT NCUSIF INSURED.

Preparing to Enjoy the Holidays

Adam Smith

Adam Smith
Credit Union Underwriter

Its August already… it always feels like the months come and go faster every year. Before you know it stores (if they haven’t already) will start to have Halloween candy and pumpkins out. But as we know all too well in the world of retail and shopping, we go from Trick or Treat to the man in the red suit and his eight tiny reindeer. The most wonderful time of the year will be here before you know it, and the big question is will you be ready? The good news is that GCEFCU has some ways to help you plan so you can actually enjoy the holidays.

Working at Gulf Coast Educators, I have had the opportunity to talk to and help a lot of people during the holiday season. What I have come to find is that we all tend to have the same stress and worries. We don’t have enough time to shop and always end up spending more money than planned. Every year we always tell ourselves the same thing “I’m going to start my shopping early this year” only to wind up in the middle of the chaos with a week left before Christmas. We have all heard the saying “If you fail to plan, plan to fail” and it is true. If you make a list of people you buy gifts for and how much you will spend on each, this is a very simple and easy tool to help you stay on or under your budget and save time.

When it comes to Christmas shopping it can be hard to stay on budget and make sure you have saved enough. Gulf Coast Educators has a solution to your problem. Our Christmas club account is designed to take the worry out of saving for the holidays. The Christmas club is an account that you can open under your existing membership, and set up an amount to be automatically transferred at your choice. The best part is that you can open this account and start saving during any part of the year. Around the first week in November, your balance will be transferred into your savings account and ready to use, and you have access to your money any time you need it. So if you opened your Christmas club in January and you deposit $25 twice a month when you get paid, you have $500 set aside ready to use for those Black Friday sales. The Christmas club is a service that GCEFCU offers to give you peace of mind, during what can be a stressful season.

Another service that is available now, is you can use your GCEFCU debit card on Apple Pay. If you have an IPhone that has Apple Pay you can add your debit card info and with a tap of your phone use it at all your favorite participating retailers. This is just another way that you can have peace of mind knowing that you don’t have to carry your debit card with you and risk losing it or having it stolen. Now all you need is your phone and you are ready to shop till you drop!

Besides helping you save money and time GCEFCU can also help with gift ideas as well. We offer VISA gift cards for all those friend and family members that are hard to find the perfect gift for. For just a small activation fee, you can purchase VISA gift cards at any branch location and in a matter of minutes have a gift card for any amount ranging from $25 up to $1,000. Now you can cross that hard to shop for person off your list. Also at any of our branch locations, you can purchase discount AMC or Cinemark movie tickets, which would make fantastic stocking stuffers.

The upcoming holiday season can be stressful if you don’t prepare properly. Whether it’s helping you budget and save money, saving you time by making your shopping streamlined, or helping with gift ideas ( sometimes even last minute ones) Gulf Coast Educators is here to help. These are just some of the ways we can help you save money, time and peace of mind, so you can enjoy a stress free holiday season.

Welcome to Google Pay

Tap to pay with Visa via Google Pay™

Google PayConfidence. Simplicity. And the things you love
about your Gulf Coast Educators FCU Visa® Card.

 
 
Per your request, your Gulf Coast Educators FCU Visa card has been added to Google Pay™. Now, whether you are paying in-store or in-app, you can pay with just a tap on your supported Google® device (KitKat 4.4 and higher).

How to Pay in Stores
Forget fumbling through your wallet and handing over a card next time you’re in a store. With Google Pay, you can simply unlock your phone, place it near a contactless terminal, and you’re good to go. You don’t even need to open an app. Tap and pay is that fast, that easy.

How to Pay in Apps
Tired of entering your payment and address details every time you make in-app purchases? Next time just select Google Pay at checkout.

Where to Pay
To learn more about using your Gulf Coast Educators FCU card in Google Pay, and to view the list of merchants where Google Pay is accepted, please visit pay.google.com.

Look for the contactless symbol at checkoutPay confidently at millions of places around the world with Visa and Google Pay.

 

Google Pay is a trademark of Google LLC. Payment methods shown not available in all countries or locations.
© 2019 Visa. All Rights Reserved.

Welcome to Samsung Pay


Thanks for adding Samsung Pay®

Per your request, your Gulf Coast Educators FCU Visa card has been added to Samsung Pay®. Now, when you are paying for a transaction in-store, you can pay using your supported Samsung device.

How to Pay
Samsung Pay makes transactions easy. Just swipe up to launch the app, secure with authentication (either your fingerprint or passcode) and hover over the card reader to pay.

And it’s safe – your purchases remain yours alone. Samsung Pay keeps your payment information separate and doesn’t store or share it, so you can pay without worry.

Where to Pay
To learn more about using your GCEFCU card in Samsung Pay, and to view the list of merchants where Samsung Pay is accepted, please visit samsung.com/samsung-pay.

If you did not add your card to Samsung Pay, please contact us at 281-487-9333 or info@gcefcu.org.

 
 

Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd.

Inactive Accounts & Escheat

The state of Texas, through escheat laws, mandates that financial institutions surrender inactive accounts over to the State Treasury. Inactive accounts are accounts that have had no activity as of March 1st for the last 3 years (dividends do not count as transactions).  The state requires that we close the account and send the funds to the Unclaimed Property Division of the Texas State Comptroller’s office in June. The credit union reviews dormant accounts annually. Accounts without any activity are assessed a $5 inactivity fee each year they are inactive. Before closing the accounts and submitting funds to the state, the credit union mails notices to the members. Please make sure if you receive a notice you contact us or make a transaction on your account. Once the funds are sent to the state, you will need to contact the state directly for the proceeds.

You can check online to see if you have unclaimed property with the Texas State Comptroller at http://www.window.state.tx.us/up or contact by phone at 1-800-321-2274.

Cell Phone Contact Update

We are updating the cell phone numbers we have on record for our members because of the introduction of two new services.

  • We have added a text based fraud alert system to our debit and credit cards. In the case of suspected fraudulent transactions on cards, you have the option to receive text notifications. In order to be able to opt into this service, we will need to have your cell phone in our system. Once we update our system, members with a valid debit or credit card will receive a text from us to opt into this service.
  • Text messages have become one of the most common ways for people to communicate. Members can send text messages to communicate with the credit union at our main number: 281-487-9333. By having your cell number on file, the credit union will be able to quickly verify the identity of members who choose to communicate with us via text.


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E-Statements: 749 reasons to sign up

The average American uses 749 pounds of paper per year.

What do people do with their paper statements anyway? Judging by the number of calls we get asking about shred days, they save them up to bring back to us to shred and many times they weren’t even opened. Seems like a waste of paper doesn’t it?

The credit union keeps two years of statements in PDF format in our online banking system. Signing up for E-Statements is not only an environmentally friendly thing to do, but it is also a deterrent to identity thieves who love to get their hands on statements either through the mail or in the trash.

To sign up for E-Statements, log into the digital banking system and select EDOCUMENTS and subscribe.