End of Life Financial Considerations Series (Part 1 of 3)

Posted in Board Brief, KTFCU News on Aug 21, 2024

IT'S A VERY TOUGH SUBJECT; END-OF-LIFE

WHY BRING IT UP? End-of-Life is a topic most people want to avoid.

92% percent of people surveyed say it's an important top.
32% have had at least one conversation with loved ones.
34% have an Advance Directive (outlining their medical desires & who, if not them, makes those decisions).
32% have an Estate Plan with a Will (down from 45% in 1990), which legally documents their financial affairs.

From the statistics, we all know the importance of planning for our future. As a nation,we are less prepared and we do a poor job of communicating it to loved ones...

Minimizing Exposure to Identity Theft Series (Part 4 of 4)

Posted in Board Brief on Jul 17, 2024

Ways WE can protect ourselves from Identity Theft and Scams

Everyone is susceptible to Identity Theft and Fraud, regardless of age. However, some age groups are more susceptible in certain ways than other groups. For example:

• Millennials have high instances of ID Theft, especially related to online accounts and are frequently targeted by apartment/rental scams.
• Gen-Xers have high rates of credit card fraud and ID Theft and are commonly impacted by employment/loan scams and phishing attempts.
• Baby Boomers have high rates of tax-related ID Theft and fraud and are often targeted by work-from-ho...

Minimizing Exposure to Identity Theft Series (Part 3 of 4)

Posted in Board Brief on Jun 19, 2024

Myths about Who is Affected by Identity Theft & Scams (Fraud)

It is a common belief that Identity Theft and Fraud mostly happens to the aged. Here are two graphs for you to consider.

What do the graphs tell us?
In the case of the graph on the left (Identity Theft), those in the age group between ages 30 and 39 were significantly more susceptible. They were about double the other groups and nearly 3.5 times more than seniors!

In the second graph (Fraud or Scams), they combined the 20-29 & 30-39 age groups and the 40-49 & 50- 59 age groups. This is probably because we are living longer and the ...

Minimizing Exposure to Identity Theft Series (Part 2 of 4)

Posted in Board Brief on May 15, 2024

We Are Responsible for Our Exposure to Identity Theft & Scams (Fraud).
Financial scams continue to be in the news. AND, unfortunately, they’re not going away!

Scams have become so rampant. As a result, we want to focus the next few Board Briefs on the things all of us can and need to do to protect ourselves, in as much as it is within our control.

Why?
The reality is our Personally Identifiable Information (PII) is digitally everywhere, for sale from both reputable and disreputable companies. The horse has left the barn, never to return. That’s why we must be diligent and take the initiative a...

Minimizing Exposure to Identity Theft Series (Part 1 of 4)

Posted in Board Brief on Apr 17, 2024

Microsoft Email Malware Scam (Fraud)
This is a VERY Important Alert!
In recent months, people (including some of OUR members) have been reporting a malicious scam using Microsoft as the bait. Here is how it works.

• You get an email from Microsoft. (Microsoft does not send you warnings about crimes you’ve committed or other such BAIT.)
• It informs you malware (the SCARE) has been put on your phone, PC or tablet. (Microsoft does not inform you about a specific malware. If you are using Microsoft, Norton/Samantic, McAfee or any other security suite of products, they will remove the malware insta...