In today’s digital world, convenience and security go hand in hand. From mobile deposits and online payments to account alerts and digital wallets, managing your money has never been easier or more connected. With that convenience comes an important responsibility: protecting your financial information.

At Members First Credit Union, safeguarding member data is a core part of how we serve our community. Not just a behind-the-scenes function, data privacy is a shared effort between financial institutions and the people they serve. Understanding how your information is protected, and what you can do to stay secure, helps build confidence and peace of mind.

What Is Data Privacy—and Why It Matters in Banking

Data privacy refers to how personal and financial information is collected, stored, used, and protected. In a financial context, that includes details like account numbers, login credentials, transaction history, and contact information.

Financial data is especially sensitive because it can be used to access funds, impersonate individuals, or authorize transactions. As fraud tactics continue to evolve, protecting this information has become a critical part of modern banking.

“Fraudsters will use any and all personal data to attempt to gain access to accounts and subsequent funds,” explains Risk Manager Brian Van Dyke, who oversees fraud prevention at Members First. “We do our utmost to ensure all members’ data is held to the highest level of integrity and recommend that our members do the same.”

How Financial Institutions Protect Member Information

Financial institutions invest heavily in systems and processes designed to protect member data. At Members First, this includes layered security tools, continuous monitoring, and oversight by dedicated fraud prevention professionals.

Advanced fraud detection software helps identify unusual patterns such as transactions that fall outside a member’s normal behavior or account access from unexpected locations. When something doesn’t look right, it’s reviewed by trained staff who can step in quickly.

“Either a member of my team or I will contact you directly if we have concerns regarding activity we’ve seen on your account,” Brian says. “If we’re unable to validate a concerning transaction or online login with you, we will temporarily restrict online access or block the transaction until we can review it with you.”

MFCU also provides tools that allow members to manage their accounts securely through online and mobile banking, making it easier to monitor activity and respond quickly when needed.

Expert Perspective: Fraud Prevention at Members First

While data breaches sometimes make headlines, many fraud attempts don’t involve sophisticated hacking. Instead, they rely on manipulation.

“Most data breaches are done through social engineering,” Brian explains. “This is when a fraudster contacts the member through various means and convinces them to share information.”

Examples can include emails that look official, phone calls claiming to be from a financial institution, or pop-up messages prompting immediate action. The goal is to pressure people into sharing sensitive information before they have time to think.

Members First offers education and resources to help members recognize these tactics, including guidance on fraud and identity theft protection.

What Members Can Do to Protect Their Data

Protecting financial information is a shared responsibility. Alongside the safeguards in place at Members First, there are several simple but effective steps members can take to strengthen their own security:

• Review account activity regularly. Monitoring transactions helps catch issues early.
• Keep contact information up to date. Accurate phone numbers and email addresses ensure Members First can reach you quickly if something needs attention.
• Enable account alerts and notifications. Alerts can notify you of activity in real time, so you can respond promptly.
• Use strong passwords and multi-factor authentication. These add an extra layer of protection to online and mobile banking.
• Be cautious with payments. Never send cash, wire funds, postal money orders, or gift cards unless you are 100% certain of the recipient’s identity.
• Watch for phishing attempts. Be wary of unsolicited messages requesting personal or financial information.

“If you have any inclination that something has happened, please let us know,” Brian recommends. “We will do our best to secure your account with as minimal disruption to your day as possible.”

Shared Responsibility, Stronger Protection

Data privacy works best when financial institutions and members work together. Members First provides secure digital banking tools, fraud monitoring, and account alerts to help protect your information. Members contribute by staying informed, reviewing their accounts, and speaking up when something doesn’t seem right.

This shared approach isn’t about placing blame; it’s about creating stronger protection through awareness and communication.

Confidence, Not Fear

Being targeted doesn’t mean you’ve done something wrong; fraudsters are skilled and persistent.

“Fraudsters are incredibly convincing,” Brian says. “Do not feel poorly if they have targeted you. We’re here to help!”

If you ever suspect fraud or believe your information may have been compromised, contacting Members First as soon as possible can make a meaningful difference. Early notice may help recover funds or reduce potential losses, and the team will work to secure your account with minimal disruption.

Staying Secure Together

Data privacy is an ongoing effort, and Members First remains committed to protecting your information while empowering you with the tools and knowledge to stay secure. By combining strong safeguards with informed, proactive members, we can continue to build confidence, not fear, around digital banking.

Click here to learn more about fraud prevention resources or to get help with account security.