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Important texting scam information from our Fraud Department

Members are reporting that they are receiving fake text messages from fraud monitoring services that appear as an EFCU alert. The text message asks members to confirm or STOP a transaction from a merchant. When the member replies to the text with "STOP," they are contacted by the scammer and may be asked for password, PIN, one-time code or other logon or account information. These calls often include fake Caller ID numbers that appear to be from EFCU, and almost immediately lead to real contactless card fraud. Members who have been victimized have reported that these scammers can be very convincing.

EFCU will never contact you asking for your password, PIN, one-time code or other logon information. We also never ask you to download software in an email or while you're on the phone with us. If you've provided any information through this type of call or text, call EFCU Card Services at 800.367.6159, option 1. Thank you.

Be aware of mobile deposit scams

Mobile banking is easy and convenient. Unfortunately, the growing popularity of mobile banking is making it easier for thieves to commit fraud. One of the most common ways they do this is through mobile deposit scams.

Mobile deposit scams work the same way as traditional fake check scams, but the fraud is conducted remotely using a mobile device.

There are many types of fake check scams, but most involve a fraudulent check being deposited into a victim's account. The mobile deposit can be made either by the victim or the scammer. The victim receives a fake check by mail or email. They either deposit the check or are tricked into giving away their online banking credentials to the scammer who then makes the deposit. The victim is then asked to send or pay money to a third party as a condition of receipt. By the time, the fraud is discovered, the victim may have already sent money to the fraudster. The victim may receive no benefit from the bad deposit but has all the liability for it.

Be wary of any offers that involve the exchange of money, especially if they sound too good to be true and never share your log in credentials with anyone.

If you think you may have been a victim of a scam, you can file a complaint with the FTC online at ftc.gov or contact EFCU at 850.862.0111, option 4.

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.