Beware of Spoofing Scams Impersonating CoVantage Credit Union

A Growing Fraud Trend Affecting Members Across Wisconsin, Illinois, and Michigan

CoVantage Credit Union is currently seeing an increase in spoofing scams, a type of fraud where criminals impersonate trusted organizations to steal personal and online banking information. These scams often appear as phone calls or text messages that look and sound legitimate, making awareness and education critical.

Spoofing technology allows scammers to disguise their phone number or sender name so it appears to come directly from CoVantage Credit Union. While the communication may seem authentic, these messages are designed to manipulate recipients into sharing sensitive information.

What Is a Spoofing Scam?

A spoofing scam occurs when a fraudster falsifies caller ID information, text message details, or email addresses to impersonate a legitimate business. In recent cases, scammers have posed as CoVantage Credit Union representatives, claiming there is suspicious activity on an account.

These scams are increasingly common nationwide and have been reported by financial institutions throughout Wisconsin, Illinois, and Michigan.

Common Spoofing Scam Examples

Phone Call Scam Example

An individual receives a phone call that appears to come from CoVantage Credit Union. The caller claims fraudulent or attempted charges have been detected and offers to “secure” the account.

During the call, the fraudster may:

· Ask for online banking login credentials

· Trigger a One Time Password (OTP) during the conversation

· Request the OTP, claiming it is needed to protect the account

Once this information is shared, the scammer can gain full access to online banking and account funds.

Text Message Scam Example

A text message claims that a debit card or account charge needs to be verified. If the charge appears incorrect, the message instructs the recipient to click a link to cancel or dispute it.

In these cases:

· The link leads to a fraudulent website designed to look legitimate

· Login credentials entered on the site are captured by scammers

· A One Time Password (OTP) is generated and later requested through a follow-up call, text, or email

Sharing this information allows fraudsters to take control of the account.

Important Safety Reminders from CoVantage Credit Union

To help prevent fraud and protect accounts, CoVantage Credit Union reminds members of the following:

· CoVantage staff will never initiate a call, text, or email asking for a password, PIN, One Time Password (OTP), or other sensitive information

· Be cautious of urgent or threatening messages, as scammers often create a false sense of urgency

· If a suspicious call or message is received, hang up and contact CoVantage directly using a trusted phone number: 1-800-398-2667

· If personal or online banking information has already been shared, contact CoVantage immediately so steps can be taken to prevent unauthorized access

Stay Informed. Stay Protected.

Fraud tactics continue to evolve, but education and awareness remain some of the most effective tools for preventing financial loss. When communication feels unexpected or urgent, taking a moment to pause and verify can make all the difference.

For questions or concerns related to fraud, account security, or suspicious activity, contact CoVantage Credit Union directly through official channels.