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Financial Literacy

Get ahead by getting informed.

From investing ideas to fraud prevention tips to financial literacy, we are here to improve your financial health.

Financial Literacy

What does financial literacy mean and why is it important? Financial literacy is the confident understanding of concepts including saving, investing and debt that leads to an overall sense of financial well-being and self-trust. It starts by building basic knowledge of money matters, which includes being able to save money, distinguish the difference between wants and needs, manage a budget, pay their bills, buy a home, pay for college, and plan for retirement.

 
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Canada Carbon Tax Rebate Scam: How to Protect Yourself

At Stride Credit Union, we are committed to keeping our members safe from fraud. Recently, there has been a rise in a scam targeting Canadians, where fraudsters impersonate the Canada Revenue Agency (CRA) and claim to offer a Canada Carbon Tax Rebate. The scam is being circulated via email and text messages, and it’s important to be aware of the warning signs and know how to protect yourself.

Check out the example screenshots to the left to beware of what to look out for. 

This scam involves fraudulent messages that appear to be from the CRA, claiming that you are eligible for a rebate under the Canada Carbon Tax program. The message will often request that you accept the rebate by clicking a link and completing the process via e-transfer. However, the CRA will never contact you through e-transfer or text message to send rebates or refunds.

To ensure your safety and prevent falling victim to these scams, follow these guidelines:

  • Do not click on any links or buttons in suspicious messages.
  • Do not respond to the message, even if it appears to be from the CRA.
  • Never share your personal or financial information, including passwords, PINs, or banking details.
  • If the message asks for payment in order to receive a rebate, it's a scam.
  • Always verify the source of any unexpected communication. The CRA will never contact you via e-transfer or text.

Please note that this scam is likely to resurface periodically, particularly around the distribution dates for the Canada Carbon Tax Rebate which are:

  • January 15
  • April 15
  • July 15
  • October 15

We believe that knowledge is key to protecting yourself and others. Be sure to share this information with your friends and family to help them stay safe from fraud.

If you suspect you’ve received a fraudulent message or if you have shared personal or financial information, contact your financial institution immediately and report the incident to the Canadian Anti-Fraud Centre.

At Stride Credit Union, we are dedicated to providing our members with the tools and knowledge they need to stay secure in an increasingly digital world. Stay alert, stay safe!

Cybersecurity and Fraud Prevention

 Cybersecurity is a team effort. It starts with you at home, then at the workplace and extends throughout our communities. There are new scams and fraud attempts every day so it is important to learn how to recognize, reject and report fraudulent activity online.

There are 20 security alerts you can set up on your account. This is an easy way to protect your money.

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What to do if you are a victim of Fraud?

  • Report it
    • Call your Credit Union/Bank and inform them of the situation. ​
    • Contact Canada’s two main credit bureaus: Equifax and TransUnion and ask to place a fraud alert on your credit report. ​
    • Report to the RCMP if there was a theft of your funds.​​
    • Report to The Canadian Anti-Fraud Centre Contact Information: call 1-888-495-8501 or visit their website at www.antifraudcentre-centreantifraude.ca
  • Have whatever device being used assessed and cleaned by computer specialists and change this device password

Learn how we are working to keep our members safe and how to protect yourself and your accounts.

LEARN MORE
 
 

Grandparent & Emergency Scams

Grandparent scams are on the rise, making it crucial to raise awareness and safeguard our loved ones from falling prey to these deceitful schemes. Learn more about these scams and how to protect yourself and your loved ones:

 

What are Grandparent/Emergency Scams?
Grandparent scams typically involve a scammer posing as a grandchild or another relative in distress, often claiming they're in urgent need of money due to an emergency like an accident or legal trouble. The scammer relies on the victim's emotions, exploiting their desire to help and protect their loved ones. They may ask for money to be sent through wire transfers, gift cards, or other untraceable methods, making it difficult for victims to recover their funds once they realize they've been deceived

How To Spot a Grandparent/Emergency Scam
  • Urgent Requests: Scammers often create a sense of urgency, claiming the situation requires immediate action and funds.
  • Emotional Manipulation: They may use emotional tactics like pretending to cry or sound distressed to manipulate victims.
  • Lack of Specific Information: Scammers may be vague about details such as the grandchild's name or specific circumstances, relying on the victim to fill in the blanks.
  • Requests for Secrecy: They often instruct victims not to tell other family members or authorities, citing reasons like legal issues or family conflict.
  • Unusual Payment Methods: Scammers prefer untraceable payment methods like wire transfers, gift cards, cash, or courier pickups.
  • Inconsistencies in Story: The story may change or contain inconsistencies if questioned, revealing the scammer's lack of genuine knowledge about the family.
  • Pressure to Act Quickly: Victims may be pressured to act fast, with the scammer discouraging them from seeking advice or verification from others.

How to Protect Yourself From These Scams
  • Stay calm and avoid acting impulsively, especially when the caller claims there's an urgent need for money.
  • Verify the situation with other family members or directly contact your grandchild or relative through known contact information.
  • Be skeptical of requests for secrecy or instructions not to tell anyone else about the situation.
  • Verify the caller's identity by asking personal questions that only your grandchild or relative would know.
  • Avoid sharing personal or financial information over the phone, especially if you're unsure of the caller's identity.
  • Establish a code word or phrase with family members that only you and they know.
 
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Self-Serve Password Reset is here!

Self Serve PAC reset is a banking feature that allows Stride members to reset their Personal Access Code (PAC) whenever they need to, at the time they need to. 

For more information, click here.
 
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