Keeping your money safe is one of our biggest priorities as your local credit union. We don't want to see anyone get taken advantage of so we are sharing information about a type of fraud called romance scams.

Josh Moen, Branch Manager at our 25th Street location in Fargo, recently did an interview on KVLY, where he urged people to be cautious when it comes to dating online. He's seen firsthand how romance scams can negatively affect an individual’s financial situation.  

I think it’s very important to understand in any scam situation if someone is asking you to give access to your bank account or send money, especially in the form of gift cards or bitcoin, red lights should be flashing in your head, Moen said.

Romance scams occur when a criminal adopts a fake online identity to gain a victim’s affection and trust. Scammers often tell the individual they are stuck overseas and need cash or money to get home. They will often tell the individual to open a bank account, give them access to their online banking or send money.

The scammers are very good, they want their so-called boyfriend/girlfriend to believe they truly need the money, and then once they receive the funds, they ask for more and more until either the financial institution catches what is going on or a family member or friend, Moen said.

Moen suggests never sharing account information with anyone and contacting your local credit union if you think you are being scammed. Our team of lenders and member service representatives have been trained to recognize signs of fraud in hopes of preventing any members from being scammed. They won't hesitate to ask you questions if they see red flags. Please know we aren't being nosey; we're trying to protect you and your money.

We are here to help guide you and help you make sound financial choices, Moen said.