July 2024 - High Point FCU

Summer Entertaining on a Budget

Summer is the perfect time to gather with family and friends to enjoy warm weather, but all that hosting can come with extra costs. Fortunately, you can have your party, and your budget, too. Here’s how to host the best gatherings this season without draining your wallet.

Plan ahead

Start by creating a guest list and deciding on a theme or menu. This will help you stay focused and avoid last-minute impulse buys.

Keep it simple

Keep your menu simple and focus on a few crowd-pleasing dishes that can be prepared in advance. Of course, you can always go for a barbecue in the summer, and grill your proteins and veggies on the spot.

Host a potluck

If you want to host another dinner, but you don’t want to cook for it, have a potluck. Divide your menu and have each guest bring one dish along for a varied meal that’s easy and inexpensive for everyone.

DIY décor

Get creative and make your own decorations using items you already have at home or inexpensive materials from a dollar store. You can use fresh flowers, candles, Mason jars or colorful tablecloths to add a festive touch to your outdoor space.

Choose budget-friendly beverages

Save money by serving budget-friendly beverage options like homemade sangria or signature cocktails. Consider shopping at discount stores or keep it dry and stick to refreshing non-alcoholic beverages.

Take it outside

There’s no need to book a venue when the weather is gorgeous outside. Take advantage of your outdoor spaces and host your gathering in your backyard or out on your patio. You can also have your party at a local park or scenic waterfront.

Shop smart

Shop discount stores, warehouse clubs, or dollar stores for affordable party supplies, decorations, and disposable tableware. If you’ll be hosting often this season, consider buying in bulk to save even more.

Get creative with entertainment

Entertainment doesn’t have to cost a fortune … or anything, actually! Get creative with budget-friendly options like backyard games, DIY photo booths or even just a playlist of your favorite tunes. Encourage guests to bring their own games or sports equipment to add to the fun.

Let those savings sizzle!

High Point FCU Breaks Ground at New Branch in Bradford.

Olean, NY – High Point Federal Credit Union broke ground Wednesday at its future branch location in Bradford, PA. The new branch, located at 1035 East Main Street in Foster Brook, is slated to open during the 1^st quarter of 2025. The new full-service branch will feature loan, teller and membership services as well as 24-hour ATM access.

The new location is designed to better accommodate High Point FCU’s growing membership base within the Bradford area.

Rich Yeager, CEO stated, “We are eager to extend our services to our members in this new area and provide affordable financial products to support them on their financial journey. This groundbreaking symbolizes growth, progress, and our commitment to serving this wonderful community.”

Beware Advance Payment Scams!

It’s an awesome deal, but there’s a catch: payment of an advance fee. Before you pay up, though, take a step back and look at the transaction from every possible angle. You might be wrapped in the allure of an advance payment scam.

Let’s take a look at these scams, how they work and what steps you can take to keep yourself from falling for these ruses.

How the scams play out

In an advance payment scam, a fraudster asks for an upfront payment from the victim. They promise something valuable in return. Once the payment is made, the promised goods, services or benefits never materialize. Instead, the scammer disappears with the money and is never heard from again.

Variations of advance payment scams

Advance payment scams can play out in many forms:

Job offer scams-Scammers post fake job listings offering high-paying positions. They’ll ask for an upfront fee to cover the cost of background checks, training materials or other expenses. Once the fee is paid, the job offer vanishes.
Lottery and prize scams-Victims get notifications claiming they’ve won a big payday or valuable prize. To claim it, they must pay taxes, fees, or shipping costs ahead of time. After paying, they receive nothing.
Loan scams-Individuals seeking loans are asked to pay processing fees, insurance, or collateral fees upfront. The loan is never provided, and the advance payment is lost.
Investment scams-Scammers lure victims with promises of high investment returns. They require an initial investment or fee. After payment is made, the scammer disappears.
Online marketplace scams-Fraudsters advertise high-demand items at attractive prices online. Buyers are asked to pay upfront for the items, which are never delivered.

Red flags

Here are red flags of a potential advance fee scam:

Offers that are too good to be true
Requests for upfront payment
Pressure to respond quickly
Lack of contact information
Poor grammar and spelling
Requests for untraceable payments

Protect yourself

Here’s how to protect yourself from advance payment scams:

Before making any payments, research the company or individual offering the deal to confirm legitimacy through official sources. You’ll also want to verify every job offer by contacting the company directly using authenticated contact information. Be wary of surprise wins; if you don’t remember entering a sweepstakes, you probably didn’t win a big prize. Consult with a professional when investing in a new stock and, finally, only make online payments by methods that offer protection and recourse, such as credit cards.

If you’ve been scammed

If you’ve fallen for an advance fee scam, contact your financial institution or payment provider to request a reversal of the transaction. Next, reach out to the FTC and other law enforcement agencies to let them know about the scam. Share your experience to warn your friends and family about the scam. Finally, keep a close eye on your bank and credit card statements for any unauthorized transactions.

Stay safe!

How to Report Fraud

You’ve been frauded! It’s a disaster, and the longer you wait to act, the worse it will get.

What do you do now?

It’s a crucial question, and we’ve got answers! Here’s what to do if you’ve fallen victim to fraud:

Immediate steps

As soon as you discover the fraud, take these steps:

Document the fraud. Collect all relevant info, including emails, receipts, account statements and any other documentation that can serve as evidence.
Contact your financial institutions. Notify your credit union or bank, credit card companies and any other financial institutions about the fraud. They can freeze your accounts, issue new cards and help prevent further unauthorized transactions.
Change passwords. Immediately change passwords for any online accounts that may have been compromised.

Reporting fraud to the authorities

Here are the key organizations to contact:

Federal Trade Commission (FTC). The FTC is the primary agency for reporting fraud in the United States. You can file a complaint online or call 1-877-FTC-HELP (1-877-382-4357).
Local law enforcement. File a report with your local police department. Provide them with all the evidence you have collected.
Internet Crime Complaint Center (IC3). For online fraud, report to the IC3, a partnership between the FBI and the National White Collar Crime Center. File a complaint here.
State consumer protection offices. Many states have consumer protection offices that handle fraud complaints.
Credit reporting agencies. Contact the major credit bureaus (Equifax, Experian and TransUnion) to place a fraud alert on your credit report.

Specialized reporting for specific types of fraud

Depending on the type of fraud, you may need to report to additional specialized agencies:

Identity Theft: Report identity theft to the FTC at IdentityTheft.gov.
Securities Fraud: If you’re a victim of investment fraud, report it to the Securities and Exchange Commission (SEC) at SEC.gov.
Tax Fraud: For tax-related identity theft or fraud, contact the Internal Revenue Service (IRS) at IRS.gov or at 1-800-908-4490.
Mail Fraud: If fraud was conducted using the U.S. Postal Service, report it to the U.S. Postal Inspection Service at USPIS.gov.

How to protect yourself from future fraud

Monitor your checking account statements, credit bills and credit reports regularly for sketchy activity. Also, use strong, unique passwords for all of your accounts. Never share personal information with an unverified contact. Finally, keep yourself educated about scams.

Stay safe!