How We Protect You: Stay one step ahead of fraud.
Fraud is constantly evolving, but so are we. At Lafayette Federal Credit Union, protecting your accounts isn’t just a priority, it’s a daily, coordinated effort across multiple teams, advanced technology, and real-time monitoring systems.
Here’s a closer look at how we’re working behind the scenes to keep your money safe and what you can do to strengthen your own defenses.
Smart Strategies
A Smarter, Proactive Approach to Fraud Protection
Our fraud prevention strategy starts with understanding you. Every member has unique financial habits, and our monitoring systems are designed to learn those patterns.
We analyze activities including:
- Transaction amounts and frequency
- Deposit and withdrawal behavior
- Check usage patterns
- Online banking activity
When something falls outside your normal behavior – an unusually large transaction or a sudden spike in activity – our system flags it for review.
We’re also enhancing our fraud detection platform with more advanced analytics, allowing us to better distinguish between legitimate activity and potential fraud while reducing unnecessary alerts.
Protecting You from Account Takeover Fraud
One of the most common threats today is account takeover fraud, where criminals gain access to online banking and try to move money quickly.
To stop this, we monitor:
- Login locations and device types
- Simultaneous access from different devices
- Changes to contact information (email, phone number)
- Attempts to link external accounts
If anything looks suspicious, we act quickly, often catching issues before funds are moved.
Real-Time Monitoring Across All Channels
Fraud doesn’t happen in just one place, so we don’t monitor just one channel.
We actively track:
- Debit and credit card transactions
- ACH and wire transfers
- ATM activity
- Check deposits and withdrawals
Even our branch teams play a role – inspecting ATMs daily for skimming devices and staying alert to emerging fraud tactics.
This layered approach helps us detect and respond to threats quickly.
How We Communicate with You Safely
If we detect suspicious activity, we’ll reach out – but always in a way that protects your information.
Here’s what you can expect:
- We may ask for limited verification (like the last four digits of your Social Security number)
- We will never ask for passwords or security codes
- You can always verify our call by hanging up and calling our official number
Our call center works closely with the fraud team, so they can confirm any outreach and connect you with the right department.
Why Member Awareness Matters
While our systems are strong, fraud often succeeds through social engineering – when scammers trick people into sharing information.
Common tactics include:
- Romance scams
- Urgent phone calls or texts pretending to be your financial institution
- Requests to “verify” account details
Even sharing login credentials with trusted friends or family can unintentionally put your account at risk.
The safest approach: never share your online banking credentials with anyone.
Powerful Tools to Help You Stay in Control
We give you tools to check your accounts in real time—because the sooner fraud is detected, the better.
With our mobile app and online banking, you can:
- Set transaction alerts by dollar amount
- Get notifications for online purchases
- Monitor specific merchant categories (like gas or restaurants)
- Receive alerts for balance changes or deposits
These alerts act as your early warning system, helping you spot unauthorized activity at once.
Action Steps: How to Protect Your Accounts Today
Here are simple, high-impact steps you can take right now:
- Turn on Account Alerts
Set up real-time alerts for transactions, balance changes, and online purchases.
- Use Multi-Factor Authentication (MFA)
Enable MFA and allow receipt of text-based codes sent to your phone whenever possible.
- Never Share Your Login Information
Even with people you trust—use proper account access features instead.
- Verify Unexpected Communications
If you receive a call, text, or email claiming to be from us, contact us directly using our official number.
- Review Your Accounts Regularly
Check transactions often, not just your monthly statement.
- Be Cautious with Large Transactions
Confirm recipients and payments, especially for checks or transfers that are out of the ordinary.
A Team Effort Focused on Your Security
Fraud prevention at Lafayette Federal Credit Union is a coordinated effort across:
- Fraud specialists
- Member service teams
- Card services and wire departments
- Branch staff
This collaboration ensures suspicious activity is quickly identified, investigated, and resolved before it affects you.
Fraud prevention works best as a partnership. We’re investing in smarter technology, stronger monitoring, and better communication, but your awareness and quick action are just as important.
Together, we can stay ahead of fraud and keep your accounts secure.
Not a Lafayette Federal member yet? You can become a member by completing an online membership application.
