The Consumer Financial Protection Bureau released an “auto loan shopping sheet” to help consumers evaluate costs when shopping for an auto loan and a step-by-step guide entitled “Take Control of Your Auto Loan” to help consumers navigate the auto lending process.

The sample online worksheet instructs consumers how to determine:

• upfront costs
• the exact amount they will need to borrow
• how much money they will pay over the life of the loan, and
• the total cost of the purchase

Additionally, the factors that are negotiable are also denoted with a special icon. A consumer can print out this sheet and take it along with them when shopping for an auto loan, to help consumers make an “apples to apples” comparison when shopping for auto loan products.

Access the Know Before You Owe auto loan shopping sheet here.

The Know Before You Owe auto loan initiative can be found here.

Many credit union members have been involved in a “grandparent scam” where the caller either claims to be a grandchild or the police that have the grandchild in custody. The grandparent needs to send money to “get them out of trouble”. Now, not only are these victims being asked to wire or western union money, they are asked to get gift cards and phone the callers back with the numbers off of the cards.

What you need to know about “grandparent” scams
Scamming with iTunes gift cards

You may have signed on to Online24 recently and had a prompt that asked you for a home email address or a phone number. Online 24 is currently updating member information and this is legitimate. If you enter the missing information you will be able to continue logging into Online 24.

If you close the screen and attempt a second login, your account will be disabled. Once the account is disabled, an administrator at Bronco will need to activate your account and add the missing information for you. You will not see this prompt once the information has been updated. Please do not hesitate to contact Bronco if you have any questions.

Get big protection in a tiny chip.

Bronco FCU Visa^® Credit Cards now come with built-in EVM chip technology. This gives you greater fraud protection when you use your card at a chip-activated terminal. Your new card is not only secure—it’s also easy to use. Here’s what you can look forward to as a cardholder.

EMV stands for Europay, Mastercard® and Visa®. EMV chip technology is becoming the global standard for credit card and debit card payments. This smart chip technology features credit cards with embedded microprocessor chips that store and protect cardholder data. This standard has many names worldwide and may also be referred to as: “chip and signature.”

Enhanced fraud protection.

When you use your card at a chip-activated terminal, the embedded chip generates a one-time use code. This code is virtually impossible to counterfeit and helps reduce in-store fraud.

Global acceptance.

More merchants are accepting chip transactions every day. Whether you check out using chip technology or swipe your card, you can pay with confidence wherever Visa^® Credit Cards are accepted.

Easy to use.

Simply swipe your card like you do today. However, if a chip-activated terminal is available, insert your card instead and follow the prompts. See detailed steps to the right.

No matter how you pay, you’re protected against unauthorized use with Visa^®‘s Zero Liability Policy*.

Keep in mind, you can continue to use your chip card online or over the phone—the same way you do today.

With the world we live in today, it is very important for our members to be mindful of account information and check their accounts regularly for any discrepancies or concerns. Here is a guide to help you know what to do: Protect Yourself

Website Uses Logo Similar to NCUA’s, Mimics Website Design and Language

ALEXANDRIA, Va. (March 17, 2015) – The National Credit Union Administration has received reports of an online phishing scam that uses a website with a logo and a design similar to the agency’s own site in an attempt to convince unwary customers to provide information or send money.

Consumers have received emails from the National Credit Union website, which apparently originates in Australia and claims to offer services in the United States, Europe and the Commonwealth of Independent States. This website is not affiliated in any way with the National Credit Union Administration, a federal agency, and the emails are not from NCUA.

The emails attempt to persuade individuals to provide personal information, such as Social Security numbers, account numbers and login information, or transfer large amounts of money. Consumers should neither provide information to this website nor attempt to conduct any financial transactions through it. NCUA would not request personal or financial information in this manner. See NCUA’s Privacy Policy for more information.

Consumers receiving such emails should call NCUA’s Fraud Hotline toll-free at 800-827-9650 or 703-518-6550 in the Washington, D.C., area. Consumers should also contact the Internet Crime Complaint Center, a partnership between the FBI and the National White Collar Crime Center. NCUA also offers information about avoiding frauds and scams on its MyCreditUnion.gov website.

Consumers who suspect they may have become victims of identity theft should immediately contact their financial institutions and, if necessary, close existing accounts and open new ones. NCUA urges consumers also contact the three major credit bureaus—Equifax (800-525-6285), Experian (888-397-3742) and TransUnion (800-680-7289)—to request a fraud alert be placed on their credit reports.

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 99 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov andPocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.

Most people know identity theft is a growing problem, but did you know a recent Federal Trade Commission study found that about 40 million consumers have mistakes on their credit reports, some of which could have an impact on credit scores? Bronco Federal Credit Union, The Credit Unions Care Foundation of Virginia and other credit unions across the state want to send a message:

Pull your free credit report today to check for signs of identity theft and look for reporting errors and ways to improve your credit. If you don’t know where to start – your local credit union can help.

To support this, credit unions across Virginia will be assisting with SMART Credit Checks to provide information on:

• How to safely obtain a free credit report;
• How you can use your credit report to help determine if you are a victim of identity theft;
• The steps you should take if you are an identity theft victim;
• How to correct errors on your credit report;
• How information in your credit report determines your credit score; and lastly,
• Ways you can improve your credit score.

“According to the National Foundation for Credit Counseling’s 2013 Consumer Financial Literacy Survey, 65 percent of respondents failed to check their credit report within the past year,” said Rebecca Cardwell, chairman of the Credit Unions Care Foundation’s Financial Education Committee. “Our goal is to ensure all Virginians obtain and review their credit reports at least once each year.”

Bronco wants to help our members find ways to improve their credit scores, save them money, and protect them from identity theft. We’re proud to be a part of this statewide initiative. It’s a great example of the cooperative nature of Virginia’s not-for-profit credit unions and their philosophy of people helping people.

To assist with this initiative, Bronco representatives are available to meet one-on-one with individuals to review their credit report.

Come in today to get your SMART Credit Check.

If you’re considering rolling over your IRA assets to an existing or new IRA, you need to be aware of an upcoming change that will affect IRA rollovers.

**Fraudulent Bronco Cashier’s Checks Notice:**
If you receive a letter from Northern Financial Company Group Inc. in Forest Park, Georgia, stating that you have won their promotional drawing, this is a scam. The letter states that the recipient should contact a claim agent to settle taxes on the winnings before the full amount can be sent. A fake Bronco Cashier’s Check is included to supposedly cover the amount of the taxes.

Do not contact the claim agent. The enclosed check is bogus. If anyone contacts you concerning this scam, please do not provide them with any personal information, especially your Bronco account number(s). Tell them you know this is a scam and hang up.

If you have further questions or need assistance, please contact Bronco’s Compliance and Auditing Coordinator, Amy Simms, at 757.569.3710

A lot of members have been asking us about recent ID breaches at local businesses such as Community Health Systems (which includes Southampton Memorial and Southern Regional hospitals) and Farm Fresh.

According to Steve Ramey, CFO of Southampton Memorial Hospital and a Bronco Board Member, neither Southampton nor its clinics were affected by the breach. Both Southern VA clinics and Southside clinics (physician offices) were. Only patient names and Social Security numbers were taken. No credit card information was taken so there should be no impact on Bronco credit or debit card holders.

If you feel that your personal data may have been compromised during these breaches, please contact one or both of the businesses directly. Farm Fresh has created a call center to field questions. Community Health Systems is notifying affected consumers directly and offering ID Theft protection.

Even if you do not feel your credit or debit card information has been compromised it is always a good financial habit to routinely monitor your credit and debit accounts for errors.