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Financial and Lifestyle Resources for Vermont

VSECU Blog

In the VSECU Blog you'll find financial and lifestyle resources to help empower possibilities for your personal success.

Steve Timmons

Steve Timmons is our Fraud Coordinator. Steve makes sure that our members’ identities are protected and helps members understand what fraud is, how to identify scams, and how to protect themselves and their family members from being defrauded.

By: Steve Timmons

May 14th, 2019

What Elder Financial Abuse Is & What You Can Do

Identity and Fraud Protection

Elder Financial Abuse is one of the most despicable crimes committed because it targets our senior population and often wipes out the victim’s entire life savings. Fraudsters target the elderly because they know that they will likely get a larger payout for their efforts. The US Census Bureau estimates the number of adults over 65 will represent 20% of the population by 2030, compared to 13% in 2010. According to estimates, elder financial abuse puts billions of dollars into fraudsters’ pockets, so the expected growth in the elder population will likely make elder fraud more and more attractive to fraudsters.

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By: Steve Timmons

September 8th, 2017

Equifax Security Breach – Catch Identity Theft Early

Identity and Fraud Protection

On July 29, 2017, Equifax, one of three large U.S. credit bureaus discovered that it had experienced a data breach. The news went public on September 7, but the breach occurred over a period of time earlier in the year—from mid-May through July. According to the Equifax consumer notice, the breach compromised the credit card numbers of about 209,000 consumers, and dispute documents containing personal identifying information (names, Social Security numbers, birth dates, addresses, and driver’s license numbers) of about 182,000 consumers. All in all as many as 143 million in the United States could be impacted.

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By: Steve Timmons

August 9th, 2017

Don’t Fall Prey to Social Engineering

Identity and Fraud Protection

For fraudsters, identity theft is a full time job, so they’re pretty good at it. They have lots of time to develop tactics for getting your personal and financial information, and social engineering has become one of their favorites.

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By: Steve Timmons

February 7th, 2017

Protect Your Accounts from Post-Holiday Cybercrime

Identity and Fraud Protection

Listen Here: The holidays are over, but that doesn’t mean you should stop protecting yourself from cybercrime. Fraudsters get busy during the holiday season, harvesting information from the credit cards of generous shoppers. After the holidays, they use the data they’ve collected to wreak havoc on their victim’s accounts.

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6 Tips for Improving Your Credit Score

Cultivate and Maintain an Excellent Credit Score

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By: Steve Timmons

November 17th, 2016

Don’t Let Credit Card Fraud Ruin Your Holiday Season

Identity and Fraud Protection

Credit Card fraud is on the rise and is especially common during the holiday season. In a Reuter’s article addressing holiday fraud last year it was indicated that an upswing in fraudulent activity occurred, increasing from 1 in 114 transactions in 2014 to 1 in 86 transactions in 2015. The expectation is that holiday fraud will continue to rise in 2016, even as EMV “chip” cards and technology become more common. Although the switch to chip card technology has occurred, it is anticipated that fraud on e-commerce transactions will increase as fraud in brick and mortar establishments decreases.  This is based on what was experienced in Europe after the conversion to EMV chip cards occurred there.  Fraudsters shifted their activity from brick and mortar purchases to e-commerce (internet purchases).

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By: Steve Timmons

March 7th, 2016

EMV Chip Cards: Limit Credit Card Theft

Credit and Debt | Identity and Fraud Protection

What an EMV Chip Card Is and How It Protects Your Information A Europay, MasterCard, and Visa® (EMV) chip card is a payment card that is designed with a chip that protects your card and account information by dynamically authenticating card transactions. EMV chip cards have been adopted around Europe, Latin America, Asia, and Canada and are becoming more prevalent in the United States. That said, despite their increased popularity, many card holders do not understand the technology and are not reaping the benefits of the enhanced protection they offer.  

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By: Steve Timmons

December 23rd, 2015

How to Outsmart Financial Predators - Check Fraud

Identity and Fraud Protection

Avoid falling prey to the most common check fraud schemes Check fraud is a criminal act in which one person convinces another to exchange real money or property for a bogus check. In many cases, the fraudster creates a sense of excitement and urgency, giving their victims very little time to think rationally. By the time the victim realizes what has happened, they may have lost thousands of dollars (maybe even more), with no way to recoup their losses.

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Cultivate and Maintain an Excellent Credit Score

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Cultivate and Maintain an Excellent Credit Score

Sign up for our blog and get Six Tips for Improving Your Credit Score free!