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As consumers become more educated about fraud and identity theft, online criminals are moving to other places to launch their scams. Phone scams are gaining popularity again.

There are two common types of phone scams. The first type of scam involves an email detailing a problem with your account and requests you to call a specific phone number to provide more details. The second type of scam involves a phone call from an automated call center asking you for sensitive information. You should never provide personal information to an unsolicited caller.

If you receive a call from an individual stating they are an Eglin FCU employee, even if the number appears to be from Eglin FCU, don’t give out any personal information. We will never contact you asking for your full card number, expiration date, three-digit code or one-time verification code. Instead, ask the individual for their extension, hang up, then call the main Eglin FCU number at 850.862.0111 or 800.367.6159 and enter the extension the caller gave you. Never call a number provided by an unverified individual unless you have confirmed the number is valid.

Mobile phones are another new target. For example, one scam involves sending a text message to your mobile phone claiming to be your financial institution or a credit card processor. If you receive such a text message and are unsure if it is a legitimate communication, call your financial institution's customer service center to verify that the message is genuine.

Voice Cloning

The Federal Trade Commission (FTC) released a consumer alert regarding using AI for new scams: cloning someone’s voice. This could happen to anyone. An attacker could pose as one of your family members or a co-worker (like your manager) and use the sound of their voice to try and trick you into moving money or giving out information.

Remember to always stop, look and think:

• Does the request make sense?
• Do you get a feeling in your gut?
• Does the request follow normal policy or procedure?
• Is the request out of character for the person asking you?
• Is there a sense of urgency?

When in doubt, call the person back from a number you know.

Read more about voice cloning and other scams

Check out the easy-to-use Credit Score Simulator, powered by SavvyMoney, which takes the guesswork out of managing your credit. It takes the "what-ifs" and generates an approximate credit score to help you see where you stand.

If you are an Online Banking user, you can log in to your Eglin FCU account, and click on the "Track my Score" button to have access to your credit report as often as you like without impacting your credit score. In the Mobile App, you can find it under the "view your free credit score & report" button. This service is FREE.

Now available when logged into your account online via a browser or the Eglin FCU Mobile App. Click the banner in Online Banking or the Mobile App and agree to the terms to access this new and exciting feature.

It is important to understand the value of monitoring your credit information regularly as your credit score has a major impact on the Annual Percentage Rate you qualify for on auto loans, credit cards, mortgages and more. We've made this easier than ever by providing 24/7 access to your free, comprehensive credit report when logged into your account online via a browser or the app. Your free credit report makes checking and monitoring your credit both easy and efficient without affecting your score.

Your Comprehensive Credit Report Features

• Unlimited access to your credit score and key factors impacting your score. View your credit score as often as you like and identify how inquiries, payment history and other factors influence this number.
• Credit alerts. Receive email notifications of significant changes to your credit file (e.g., hard inquiries, new account openings, change of address) as well as any activities suspect to fraud or identity theft.
• Credit improving tips. Gain insight on actions that may be helping or harming your credit score.
• Money-saving opportunities with various Eglin FCU products. Receive instant offers right on your dashboard and discover how refinancing with Eglin FCU can save you money and/or reduce your payments.
• Credit score history. Observe how your credit score has changed over time.
• Average credit score within your ZIP code. View the average credit score in your area and see how you compare.
• Initiate credit disputes. Send a dispute at the click of a button if you notice any incorrect information.

Why Credit Monitoring Matters

• Know the interest rates you qualify for on loans. Your credit score determines your ability to qualify for loans and receive better interest rates when borrowing. Knowing your credit score can help you shop for the best APR before applying for the loan.
• Ensure your credit information is accurate. Your credit score is directly linked with the information in your credit report and can give you an indication as to whether your credit information is accurate. If your credit score is lower than you expect, it may point to some errors that need to be disputed with the credit bureaus.
• Deter fraud and identity theft early. With technology increasing rapidly and fraudsters and identity thieves becoming more creative, monitoring your credit report on a regular basis is more critical than ever. Your comprehensive credit report will alert you as soon as suspicious activity appears on your account so you will be able to stop fraud and identity theft in its tracks.
• Stay updated on ways to improve your score. Items such as short credit histories, high balances on credit cards, and late payments can all affect your score. Your comprehensive credit report will note which of these are impacting your credit score so you can develop a plan for strengthening it.
• Enjoy financial peace of mind. The convenience of your credit score, credit report and instant offers at Eglin FCU right on your dashboard will help you take control of your credit and gain the upper hand on your finances.

Difference in Credit Scores

If you have ever received your credit score from the three major credit bureaus, you may have noticed that these scores are not the same. Why do credit scores vary? Here is why.

Scoring Models
Differences in credit scores derive from the numerous credit scoring models that are used in the financial industry. Credit scoring models are used by credit bureaus to collect and analyze your statistical data to determine your credit eligibility. There are a range of credit scoring models that weigh in on varying factors which change the way scores are computed, however, Eglin FCU uses the FICO 9 scoring model and the VantageScore model.

FICO Scoring Model
The FICO Scoring model has been around since 1989 and is the most widely used measure of creditworthiness primarily due to its longevity. FICO scores take payment history, credit utilization, credit history, types of credit, and new credit into account when determining its credit score, with much emphasis or "weight" placed on payment history and credit utilization. Eglin FCU has upgraded to VantageScore Model which is the score used for all Eglin FCU loan decisions.

VantageScore Model
The VantageScore model was created by the three major credit bureaus (Experian, Equifax, and Transunion) in 2006. The VantageScore model takes payment history, age and type of credit, credit utilization, total balances, recent behavior, and available credit into account when determining its credit score, with much emphasis or "weight" placed on payment history, age and type of credit, and credit utilization. Your free credit score uses the VantageScore model.

If you have any further questions regarding your comprehensive credit report, contact us at 850.862.0111 x.1421.

Peer-to-peer (P2P) payment apps have transformed the way we transfer money, making it quick and convenient to send funds to friends, family and those you trust.

While these apps are an easy and convenient means to pay someone, they are not the safest way to purchase services or items from strangers and may limit dispute resolution after a bad outcome. Here are some great safety tips to keep in mind while using any cash app:

1. Only send money to people you know and trust. With many of the apps, it is difficult to cancel a payment once you have sent it.
2. Double-check your recipient’s phone number and email. If you accidentally send it to the wrong place, you likely will not get it back.
3. Treat these cash apps like cash. Once you authorize a payment to someone, it’s quickly in their hands.
4. Be cautious of deceptive payment schemes. An offer that sounds too good to be true probably is.

Want to find out if you are eligible to become a member of Eglin Federal Credit Union? Check out this video that covers membership eligibility. There are many ways to qualify for membership! Learn more at eglinfcu.org/join.

Each member's funds are federally insured to at least $250,000 by the National Credit Union Share Insurance Fund administered by the National Credit Union Administration (NCUA), an agency of the Federal Government. IRA accounts are separately insured up to $250,000. Additional protection may be provided on joint owner accounts and payable-upon-death trust accounts.

If you wish to contact the NCUSIF, their Call Center is available Monday through Friday 8am to 6:30pm EST at 800.755.1030 x1.

Of all the economic problems that arise, inflation is among the most destructive. When prices rise, every dollar earned is worth less, making it even more challenging to make ends meet.

Saving for the future can take a back seat during inflation and even after prices stabilize, putting families behind in their savings goals. A strategy is needed for survival, and here are valuable tips to use starting today:

Put an end to those nuisance fees once and for all
With every dollar worth less, no one can afford to waste them. So now is the time to get rid of those monthly bank service fees, ATM charges and other costs that may be lingering. We encourage you to compare bank fees to services at Eglin Federal Credit Union.

Banish food waste
The only thing worse than spending more at the grocery store is watching those dollars disappear into the trash or down the garbage disposal. With inflation on the rise, it has never been more essential to banish food waste. Embrace those leftovers, freeze the excess or share the bounty with those in need.

Stock up on shelf-stable staples
Even with prices on the rise, there are bargains to be had. When deals pop up, it is time to stock up. Filling the pantry with pasta boxes, jarred sauce and canned vegetables will be good for future finances, so clear some space and start shopping. Look for coupons and grocery store rewards cards.

Experiment with meatless meals
With the price of meat rising faster than other grocery store staple, now could be the time to embrace an inner vegetarian. Maybe a meatless Monday is a way to experiment. Of course, giving up meat entirely isn't necessary, but eating meatless one or two days a week could make a big difference in the size of monthly grocery bills.

Put off major purchases
If you are contemplating a major purchase, ask if it is something you can live without. If so, putting it off until the worst of the inflation spike is over might result in considerable savings.

Seek out inflation friendly investments
If extra cash is available to save and invest, looking for products that benefit from inflation is smart. From government savings bonds that track the rate of inflation to stocks of companies with rising earnings, these smart money investments could be suitable for the short term and the long term. Consult a financial advisor for the best options

Optimize your fuel economy
The price of gas has been especially problematic of late, and inflation at the pump is surely one of the most painful aspects of rising prices. Looking for ways to maximize fuel economy can have an outsized influence in this environment. Think about the way you drive as well as how many miles are traveled. Are there other, less expensive transportation options available like carpooling? Use apps to find which gas stations are offering the lowest price fuel.

Inflation is nothing new, and rising prices have arisen in decades past. When prices are rising, it is easy to despair, but it is important to realize that spending power can be retained. Solving the Federal Reserve dilemma or controlling the larger economy might not be an option, but the ability to make strategic changes to how you shop, drive, cook and live your daily life still exists. The seven inflation-fighting tips listed above may help make the most of those shrinking dollars.