One of the benefits you’ve always enjoyed as a Mutual Credit Union member is the presence of industry-leading fraud detection and prevention seamlessly running behind the scenes to keep your information and accounts secure. Suspicious transactions are identified and shut down before they start. Knowing this, you receive the peace of mind that comes from having that round-the-clock monitoring without even lifting a finger.

This system can be a bit complicated from the ground up, but it works effortlessly. Mutual Credit Union contracts with an agency called Fraud Center. It is constantly analyzing data from attempted fraudulent transactions across the world to identify trends so it can formulate a series of rules, or algorithms, to identify potential cases of fraud. Those rules are applied to your account and, if a transaction meeting those rules occurs, Fraud Center detects and declines it. And you’re saved from a potential financial nightmare.

With new technology comes new ways of making this protection smarter, stronger and faster. We’re incorporating the Falcon alert system into our existing fraud prevention strategy. Falcon notifies you of these declined transactions as soon as they happen in two ways:

First, if you have a cell number on file, Falcon sends you a text message. It’ll look something like this:

FreeMsg from Fraud Center: (Merchant Name) txn is restricted; if you did not attempt txn reply 881NO. Otherwise, call your financial institution for assistance.

If you don’t recognize the transaction, texting the number sent with “NO” added to it (for example, “881NO”) in response will prompt a call from a Fraud Center fraud analyst. This expert will walk you through the next steps to resolving the fraudulent transaction. If you don’t respond, Fraud Center will do nothing, and your transaction will clear normally.

Falcon will also notify you via email and present you with the same range of options. You can call to start an investigation, or you can take no action and let the transaction proceed. Either way, you’ll know your financial wellbeing is protected.

Even if you don’t respond immediately, your liability is still limited. The expansion of the existing fraud detection and prevention system doesn’t change Mutual Credit Union’s commitment to protecting the privacy and security of our members. It’s much easier to stop fraud before it starts, and catching fraudsters before they have a chance to rip off other people is easier if everyone acts quickly. Because of this, it’s important that you respond to these text messages and emails promptly, but if you don’t, you’re still covered.

Due to privacy regulations, Falcon can’t contact members who don’t have a cellphone or an email address on file. Fraud frequently happens in large batches, and Falcon would have to make dozens of calls in a short period of time. This would run afoul of the same laws that protect you from obnoxious automated calls. Despite the absence of a call, the fraud activity is still recorded. Fraud Center still keeps track of these incidents, and if a large number of them take place, a security specialist will still get in touch with you.

This system doesn’t change anything you have to do if your card is lost or stolen. You can still reach out to Mutual Credit Union, or call the after-hours help line, (888) 526-0404. You can also call if your card is declined for any reason or if you suspect you’ve been the victim of fraud.

Mutual Credit Union remains committed to the safety and security of our members. Falcon doesn’t change that. Adding the Falcon service is another way we’re bringing 21st century solutions to you. If you have any concerns or want to discuss more ways we’re keeping your account safe, call, click or stop by any of our branch locations. Our member service representatives are always happy to help!