Best Ways to Keep Your Money Safe
In today’s digital world, protecting your money is more important than ever and managing your finances is about more than just making deposits and withdrawals — it’s about securing your financial future and protecting what you’ve worked hard for.
Wherever or however you do your banking, there are key practices that can make a big differences in keeping your finances secure. From monitoring account activity to being cautious with personal information, these proactive steps can help you protect your hard-earned funds.
• Never Share Security Codes: Your accounts are protected with two-factor authentication security codes. Always keep these codes private and never share them with anyone. Michigan First Credit Union will never contact you and ask for your security codes, so if someone does it’s a scam. Only enter your security codes into the Michigan First mobile app or using the Michigan First online banking platform at MichiganFirst.com.
• Set up Real-Time Alerts: Receive notifications for large withdrawals, low balances, or other transactions to monitor account activity in real-time.
• Use Card Controls: Many financial institutions, including Michigan First, offer card control features that allow you to lock and unlock cards instantly, set transaction limits, or restrict certain types of purchases, giving you more control over your accounts and spending.
• Check your Credit Report: Get a free report from Experian, Equifax, and TransUnion each year, and stagger them for ongoing monitoring of your credit. This can help spot errors or fraud early.
• Consider a credit freeze: A credit freeze prevents new credit inquiries in your name, making it harder for unauthorized individuals to open accounts. In addition to securing your financial accounts, it’s crucial to safeguard your personal devices and login information. Using strong, unique passwords for each of your accounts is a basic but essential step in protecting yourself.
• Use secure Wi-Fi networks: Avoid public Wi-Fi for financial transactions, and consider using a VPN to keep your data private.
• Set and track goals: Monitor your progress on savings or other financial goals to stay on track.
• Stick to a budget: Avoid overdrafts and fees by managing your spending, and use budgeting tools from your financial institution.
• Automate savings: Set up automatic transfers to grow your savings without thinking about it.
At Michigan First, our top priority is protecting you and your money. We make substantial investments in resources to maintain the confidentiality and security of your personal information. Use the above information to help keep yourself protected against fraud, but know that fraud schemes are surfacing every day. Stay up to date and informed by visiting MichiganFirst.com/Fraud and monitoring trends on the Federal Trade Commission website.
Wherever or however you do your banking, there are key practices that can make a big differences in keeping your finances secure. From monitoring account activity to being cautious with personal information, these proactive steps can help you protect your hard-earned funds.
How You Can Further Protect Your Money
• Beware of Unexpected Messages: Be cautious of unsolicited calls, texts, or emails, as they may be fraudulent. Always call your financial institution directly using a known phone number. At Michigan First, our 365 Live team is available to assist you 24/7/365 at 800.664.3828.• Never Share Security Codes: Your accounts are protected with two-factor authentication security codes. Always keep these codes private and never share them with anyone. Michigan First Credit Union will never contact you and ask for your security codes, so if someone does it’s a scam. Only enter your security codes into the Michigan First mobile app or using the Michigan First online banking platform at MichiganFirst.com.
• Set up Real-Time Alerts: Receive notifications for large withdrawals, low balances, or other transactions to monitor account activity in real-time.
• Use Card Controls: Many financial institutions, including Michigan First, offer card control features that allow you to lock and unlock cards instantly, set transaction limits, or restrict certain types of purchases, giving you more control over your accounts and spending.
• Check your Credit Report: Get a free report from Experian, Equifax, and TransUnion each year, and stagger them for ongoing monitoring of your credit. This can help spot errors or fraud early.
• Consider a credit freeze: A credit freeze prevents new credit inquiries in your name, making it harder for unauthorized individuals to open accounts. In addition to securing your financial accounts, it’s crucial to safeguard your personal devices and login information. Using strong, unique passwords for each of your accounts is a basic but essential step in protecting yourself.
Other Important Steps
• Update your devices regularly: Ensure your phone, computer, and Wi-Fi router have the latest security patches and are password protected.• Use secure Wi-Fi networks: Avoid public Wi-Fi for financial transactions, and consider using a VPN to keep your data private.
To Further Enhance Your Financial Health
Building healthy financial habits is essential to long-term security. Setting savings goals, sticking to a budget, and automating savings are effective ways to ensure your financial stability.• Set and track goals: Monitor your progress on savings or other financial goals to stay on track.
• Stick to a budget: Avoid overdrafts and fees by managing your spending, and use budgeting tools from your financial institution.
• Automate savings: Set up automatic transfers to grow your savings without thinking about it.
At Michigan First, our top priority is protecting you and your money. We make substantial investments in resources to maintain the confidentiality and security of your personal information. Use the above information to help keep yourself protected against fraud, but know that fraud schemes are surfacing every day. Stay up to date and informed by visiting MichiganFirst.com/Fraud and monitoring trends on the Federal Trade Commission website.