July 2025 - High Point FCU

Common Summer Scams and How to Avoid Them

Don’t get scammed this summer! Here are some of the most common summer scams and how to avoid them.

Travel scams

In these scams, fraudsters target vacationers with offers that are too good to be true. They’ll promote bogus travel sites with incredibly low prices on rentals, but when the victim travels to the alleged rental, they’ll find it doesn’t exist.

Red flags:

“Free vacation” offers
Ridiculously low-priced getaways

Stay safe: Only book your vacations through reputable travel sites and platforms. Before reserving, verify the property address online and run the photos through a reverse-image search. Pay via credit card for purchase protection.

Online shopping scams

Here, scammers create copycat shopping websites or fake social media stores selling seasonal gear at huge discounts They may lure you with aggressive email campaigns, fake security alerts and/or spoofed “order confirmation” messages.

Red flags:

URLs with spelling errors and typos
Emails that use urgent or threatening language
“Verification” requests for account details you didn’t initiate

Stay safe: Only shop trusted sellers and platforms. Check for a padlock symbol and review the URL’s spelling of each landing page. Never pay by wire transfer or gift card when making a purchase. If you get an unexpected package notification or account alert, don’t click any links; instead log into your account directly or call the company using a verified number.

Event ticket scams

Concerts, sports games and festivals are summer staples, and scammers know it. Fake or counterfeit tickets are sold on shady sites and through social media posts, with fraud sales peaking in the summer.

Red flags:

Unsolicited offers for tickets
Online listings for extra “Hot Concert” tickets for a fraction of face value
Requests to pay by cash or bank transfer

Stay safe: Only buy tickets from the venue box office, official promoter or verified resale sites. Use a credit card to pay, if possible.

Door-to-door scams

In these scams, fraudsters knock on doors and offer various home repairs on the spot. They’ll pressure the target with scare tactics like, “Our crew is leaving town tomorrow” or claim to have extra materials “left over.”

Red flags:

“Contractors” without proper licensing or permits
Door-to-door workers offering super-cheap work

Stay safe: Verify credentials before you hand over your personal info, cash or credit card. Ask for references before hiring and get a complete written estimate of the cost.

If you’ve been scammed

If you believe you’ve been scammed, take action quickly. Contact your credit union or credit card company to report any fraudulent charges and request a reversal. If you paid via a wire transfer or money app, notify the wire company and if gift cards were used, contact the card issuer to explain the fraud. Change any passwords that may have been compromised.

Next, file a report with the FTC and let local law enforcement agencies know about the scam. If you shared sensitive information, visit IdentityTheft.gov for step-by-step guidance.

Stay safe!

What I Wish I Learned in School: How to Manage Debt

Carrying ongoing debt can bring many challenges. The person is often stuck paying high interest rates. This, in turn, can prompt the debtor to only pay the minimum amount due each month. And that means making little headway on the actual balance. As time passes, they’ll keep acquiring new debt and keep falling deeper into the trap.

The good news is, it doesn’t have to be this way. With the right tools and information, you can learn to manage, and ultimately, eliminate your debt.

Here are nine steps for managing your debt and paying it down.

1. Organize your debt

First, list all your debts. Include credit cards, student loans, auto loans and any other outstanding balance you may carry. For each debt, note the following:

Total amount owed
Interest rate
Minimum monthly payment
Due date of monthly payment

Tally up your total debt monthly payments. Then, list your debts in order of interest rates, and then in order of outstanding balances.

2. Create a realistic budget

Track your income and expenses for several months. Then, set aside a reasonable amount for each spending category, ensuring you can adequately cover all of your monthly expenses. Finally, review your spending and look for ways you can increase your income and/or trim your expenses in any manner. Allocate these extra funds toward your debt payments.

3. Choose your debt payoff strategy

You have two primary choices here:

The avalanche method. Here, you’ll start with the debt that has the highest interest rate or highest balance, and maximize payments toward paying it off, then move on to the next until you’re debt-free.
The snowball method. In this method, you’ll pay off the smallest debt first, and then work through the rest in ascending order.

Review each strategy carefully and choose the one that best aligns with your lifestyle.

4. Consider debt consolidation

If you’re dealing with a large amount of debt, you may want to consider debt consolidation. This involves combining multiple debts into a single loan with a lower interest rate. Doing so will simplify debt management by giving you just one monthly payment to manage, and can potentially lower overall interest paid, too.

5. Avoid accumulating additional debt

Limit the use of credit cards and refrain from financing new purchases while working on paying off debt. It may be helpful to destroy your credit cards and have your personal devices “forget” your credit card information so you don’t spend mindlessly.

6. Seek professional advice

If managing debt becomes overwhelming, consider consulting a financial advisor or credit counseling service. It’s important to verify any service you use by checking for an online presence, reading customer reviews, demanding complete transparency and being wary of any service that demands upfront payment and/or promises outrageous results.

7. Monitor your credit

It’s wise to review your credit usage on a regular basis, and this is especially relevant when you’re working toward paying down debt. You can obtain free credit reports once a year from each of the three major credit bureaus and check your score on sites like CreditKarma. It’s also important to review your monthly credit card statements for fraud.

8. Build an emergency fund

Having an emergency fund can prevent the need to incur additional debt during unforeseen circumstances. Aim for a fund amounting to three to six months’ worth of living expenses.

9. Stay committed and patient

Celebrate small victories along the way to stay motivated. Consistency and perseverance are the keys to achieving financial freedom.

Follow these tips to learn how to manage and pay down your debt for good.

Don’t Get Hooked: How to Recognize and Avoid Phishing Scams

Don’t get caught in a phishing scam! Here’s how to stay safe.

What is phishing?

Phishing is a cybercrime where scammers use deceptive messages to steal victims’ personal information. These messages can impersonate well-known companies, government agencies, celebrities or even people the victim knows. The goal is to create a sense of urgency, fear or curiosity, which often dupes people into clicking a malicious link or providing confidential details.

There are several ways phishing scams play out, including fake emails or texts from banks or credit unions, phone calls posing as tech support, messages pretending to be from a delivery service with links to “track your package” and fraudulent text alerts about unusual activity on your accounts.

Let’s take a closer look at the three most common variations of phishing scams.

1. Email phishing

Email phishing is the most common type of phishing scam. In this ruse, criminals send fraudulent emails that look trustworthy and encourage you to click a link or download an attachment. For example, an email that appears to be from your credit union or bank may instruct you to verify your account by clicking a link and logging in. Unfortunately, the link leads to a fake website where your credentials are stolen.

Red flags to watch for:

Urgent language
Generic greetings
Suspicious email addresses
Spelling and grammar errors
Unexpected attachments

2. Vishing (voice phishing)

In vishing scams, scammers call victims and pretend to be legit representatives, often pressuring the victim into providing sensitive information. For example, a scammer calls, claiming to be from your credit union’s fraud department. They’ll tell you your account has been compromised and will ask for your PIN to secure it.

Red flags to watch for:

Unsolicited calls
Requests for personal info
High-pressure tactics
Spoofed numbers

3. Smishing (text phishing)

Smishing uses text messages to trick victims into clicking on malicious links or sharing private information. For example, a text claims there’s a problem with your delivery and asks you to click a link to update your shipping details. The link leads to a fraudulent site.

Red flags to watch for:

Unexpected texts
Links to unfamiliar websites
Grammatical errors
Too-good-to-be-true offers

How to protect yourself

Here’s how to defend yourself from a phishing attack:

Think before you click. Don’t click on links or download attachments from unknown sources.
Verify the source. Contact the organization directly using official contact information, not what’s provided in the message.
Enable multi-factor authentication (MFA). Add an extra layer of security to your accounts.
Inspect URLs. Before choosing to click or not, hover over links to check for inconsistencies.
Avoid sharing sensitive information. Legitimate organizations won’t ask for passwords or personal details by email, text or phone.
Use antivirus software. Keep your devices protected and ensure your software is updated.
Educate yourself. Learn to recognize phishing attempts and stay informed about the latest scams.

Stay safe!

First-Time Home-Buyer’s Checklist

Buying your first home is exciting and challenging. To make it easy for you, we’ve put together a comprehensive checklist to guide you through the home-buying process.

1. Get your finances in order

Before you can think about buying a house, ensure your finances are up to par. Several months before you start your search, review the following:

Your income. You’ll need to demonstrate a consistent and reliable income source to lenders.
Credit score. Your credit score significantly influences your mortgage eligibility and interest rates.
Debt-to-income (DTI) ratio. Calculate your DTI by dividing your monthly debt payments by your gross monthly income.

It’s also a good idea to start gathering the documents you’ll need:

Two years’ worth of W-2s
Profit & loss statement, if self-employed
Pensions and Social Security check stubs
Proof of child support payments
Copies of alimony checks
Statements for all checking and savings accounts
Car loan information

2. Determine your budget

Calculate your current monthly expenses by listing all your recurring bills excluding your current rent payments. Include debts, groceries and entertainment expenses and then see how much room you have left in your budget for a monthly mortgage payment. Be sure to budget for ongoing household expenses, too.

3. Prepare your down payment

Next, be sure you have the funds prepared for a down payment. While a 20% down payment is traditional, there are various loan programs that allow for lower percentages. However, smaller down payments might require private mortgage insurance (PMI).

4. Assemble your real estate team

Look for a real estate agent who can provide market insights, negotiate on your behalf and guide you through the buying process. You’ll also need a mortgage broker and/or lender to help navigate various loan options and find the best rates. In some states, you’ll need a real estate attorney as well.

5. Get pre-approved

A mortgage pre-approval, which indicates the loan amount you’re approved for, strengthens your position as a serious buyer. Present your prepared documents to your chosen mortgage broker or lender and let them know how much you plan to spend on your new home. If everything is in order, you should receive your pre-approval letter within a few days.

6. Start house hunting

You’re ready to start your search!

Identify your must-haves, which can be deal-breakers, and the things you’d like to have in your new home. Consider factors like location, size and amenities. Explore different neighborhoods, attend open houses and monitor market trends.

7. Make an offer

Next, work with your agent to determine a base offer and have the home inspected to identify potential issues, from structural problems to necessary repairs. The home will also need to be professionally appraised at this time.

9. Secure financing

During this time, you’ll also need to finalize your financing. Be sure to submit all required documents to your lender in a timely manner. You’ll also need to decide when to lock your interest rate, considering market conditions. Finally, review the loan estimates to ensure you understand all costs associated with your mortgage.

10. Prepare for closing

As the closing date approaches, you’ll need to perform some final tasks:

Final walk-through. Inspect the property to ensure it’s in the agreed-upon condition.
Look over the closing document,, which outlines your loan terms, monthly payments and closing costs.
Arrange funds for closing.

11. Close on your new home

You’re ready for the final step in the purchase of your new home: the closing! Be prepared to sign multiple documents, including the deed of trust, promissory note and closing disclosure. Once all documents are signed and funds are transferred, you’ll receive the keys to your new home.

12. Post-closing tasks

After the closing, you’ll need to transfer or establish accounts for electricity, water, internet and other essential services. Decorate and refresh the home according to your taste. Now all that’s left to do is pack up and move in!

Follow this checklist to navigate the homebuying process with ease.