Spirit Quarterly Newsletter

At Eglin Federal Credit Union, we want to maintain an active account relationship with you. We understand your Mastercard^® may go unused for many different reasons. Maybe you're hanging onto it for emergency purposes, for infrequent travel, or maybe you forgot you even had it.

No matter the reason, we want to help you keep your Mastercard from being closed due to inactivity. Any card without activity for a period of 24 months or more is considered inactive. Preventing your Mastercard account from being closed due to inactivity is very easy - simply use it at least once every two years! We value your membership and are happy to answer any questions about our card services at 850.862.0111, option 1.

Peer-to-peer payment apps have transformed the way we transfer money, making it quick and convenient to send funds to friends, family and businesses. While all peer-to-peer (P2P) payment apps can potentially be targeted by scammers, some apps may be more frequently exploited due to their popularity or specific features. According to various reports, the following P2P apps have been associated with common scams:

Zelle^®: As one of the most well-known P2P apps, Zelle^® has been linked to several scams, including fraudulent money transfers and phishing attempts. The most popular scam starts with a text message or phone call that looks like it came from your financial institution. The message will ask you to contact them to verify a Zelle^® transfer to your account. If you call the number given, a scammer then asks you to return the funds, saying it was not an authorized Zelle^® transaction. The "refund" you make to them actually sends money to the scammer.

Venmo: Scammers have been known to take advantage of Venmo's public transaction feed to request money from unsuspecting users. Some of the tactics used are fake payment notifications, phishing emails that ask for your login credentials, overpayment scams that send you an overpayment and then ask you to refund the difference, and urgent requests for money from scammers posing as family members or friends.

Cash App: Users of Cash App have reported falling victim to scams such as flipping schemes, where scammers promise to multiply a user's money in exchange for an upfront payment.

By staying vigilant and following best practices for online safety, you can protect yourself from P2P payment app scams and continue enjoying the convenience of these platforms. Regardless of the app you use, it's essential to exercise caution to avoid scams by doing things like verifying the recipient's identity, enabling two-factor authentication and never clicking on suspicious links or providing sensitive information in response to unsolicited emails or messages. As always, your Credit Union is here to support you with any concerns or questions you may have about your financial security.

In today's economic climate, it's more important than ever to have a trusted financial partner by your side. Eglin FCU is committed to helping you navigate the challenges that may arise from factors such as inflation, rising interest rates and fluctuations in the housing and stock markets. Here are some ways we can support you during these times:

• Competitive loan rates: We understand that borrowing money can be a significant decision, especially when interest rates are on the rise. We strive to offer competitive loan rates to help you achieve your financial goals, whether it's purchasing a home, buying a car or consolidating debt. For information about our low-rate loans, visit our website at eglinfcu.org and select "More Rates" near the bottom of the page.
• Mastercard rates as low as 7.9% APR*: Our Mastercard rates are hard to beat. Compare them with what other financial institutions offer to see how they measure up! Our rates are as low as 7.9% APR*, with no annual fee, no balance transfer fee, no cash advance fee and no international transaction fee! Visit eglinfcu.org/mastercard to learn more.
• Skip-A-Pay: Complete the skip-a-pay form to agree to the terms** and request a review to skip your next loan payment on your loan product with us. Visit eglinfcu.org/forms and choose the Skip a Loan Payment tab to learn more, or call us to see if this option is right for you.
• Educational resources: Knowledge is power, especially when it comes to managing your finances. That's why we offer a variety of educational resources including online tools to help you stay informed. Visit eglinfcu.org/counseling for more information on debt and budget coaching programs. Visit eglinfcu.org/education to check out the wide variety of financial calculators and other resources available to you.
• Sign up for SavvyMoney (free!) in Online Banking or the Eglin FCU Mobile App: Monitor your credit score and credit report without affecting your score, track your credit score history and learn about ways to improve your credit and how you can save money.

As a credit union, our primary focus is serving the needs of our members. By working together, we can help you maintain financial stability and achieve your long-term goals, even during challenging economic times. We're here to help you every step of the way.

*APR = Annual Percentage Rate. **Subject to approval. Your account must be in good standing. This offer is subject to a $20 processing fee for each loan payment skipped. Only one skip allowed per loan per calendar year. This offer excludes Mastercard®, S.A.F.E. Loans, Share Certificate Loans, Mortgage Loans and Mobile Home Loans. Loan must be at least one year old. Skipping a payment will extend the repayment period on the loan and interest continues to accrue during the skip period. Except as expressly amended by this agreement the terms of the original loan agreement remain in full force and effect. Annual Percentage Rate and scheduled payment do not change. GAP protection coverage will be reduced if you skip or miss more than two monthly payments over the life of the loan.