Navy Federal Credit Union

Navy Federal Credit Union In Depth

Sections on this page
  1. About Navy Federal
  2. Possible Navy Federal Scams 
  3. How to Beat Navy Federal Scams
  4. How Navy Federal Protects You From Scams

Navy Federal Credit Union has been serving its members since 1933, during the Great Depression. The credit union has grown to be a large and reputable company, which has, unfortunately, made them a target of Navy Federal scammers trying to obtain your personal information. 

About Navy Federal

Navy Federal Credit Union, otherwise known as just Navy Federal, was founded by 7 Navy Department employees who wanted to help themselves and their co-workers reach their financial goals. They have now expanded and have 346 branches worldwide with 26 international locations. 

Navy Federal is exclusively for active members of the military, veterans, and their families. As a non-profit credit union, they have 10.7 million member-owners. 

The founders of Navy Federal wanted to create a credit union that would:

  • Offer loans with affordable rates and manageable terms
  • Encourage building financial security by providing a safe place to deposit your money

Navy Federal believes military members should have the best service possible from a credit union, so they offer additional benefits. These benefits include: 

  • Dedicated VA mortgage loans and servicing
  • Financial education presentations to military recruits
  • 24/7 stateside contact center
  • Active-duty early release of direct deposits 
  • Free active duty checking and discounts

Possible Navy Federal Scams 

As Navy Federal continues to do right by the military community, scammers continue to take advantage of the trust the credit union has built to scam its customers. Some common scams affecting Navy Federal and credit unions in general include:

  • Phishing emails
  • Vishing (scam calls)
  • Credit and debit card fraud
  • Catfishing via social media
  • Card cracking scams

Phishing Emails

Navy Federal has quite a long history with phishing email scams. Phishing emails are sent by scammers who pose as a trusted institution or company to get you to click on an untrustworthy link or send personal information. 

Since 2005 there have been several reports of fake Navy Federal emails sent out by scammers. In 2017, a man received an email, allegedly from Navy Federal, claiming he had won a prize. All he had to do to retrieve his prize was click on the link provided. 

Navy Federal announced that they have no such reward program that gives out monetary prizes. They urge their members to report any suspicious emails that claim to be from Navy Federal to their email at [email protected]

If you believe you may have fallen for a scam or did click on a suspicious link and provided your information, you should call 1-888-842-6328 to get immediate help from Navy Federal. 

Vishing Scam Calls

Like phishing emails, vishing is when a scammer calls you and impersonates a company or organization while trying to get your personal information. Vishing scam calls are so common that they make up almost half of all phone calls people receive.

Scammers will use vishing when they want an immediate response from you. The scammer will usually pressure you to act right away—they don't want to give you time to think because you might figure out it's a scam. This is why they often will make you a one-time deal and threaten that if you hang up the deal is off. 

Most commonly, a scammer might call you and ask for a code you just received on your phone. Never give this code to anyone over the phone. If you are being sent a code from Navy Federal it is most likely a two-factor authentication code, so if you give that out, you could be giving someone access to your account. 

 

Navy Federal Will Never...

Navy Federal will never call you and ask:

If you receive any calls asking for this or any other personal information do not give it out. 

Instead, you should report it to Navy Federal immediately by calling them at 1-888-842-6328.  

Credit and Debit Card Fraud

Credit and debit card fraud can happen in so many ways, including:

It is best to keep a close eye on your accounts just in case there is ever any suspicious activity on your Navy Federal account. Unfortunately, it's almost impossible to predict when you will become a victim of debit or credit card fraud.

Luckily Navy Federal also offers account tracking for any suspicious activity—if they see any purchases that might be suspicious, they will contact you right away. 

Catfishing Via Social Media

Navy Federal has social media accounts that they use to stay engaged with their customers or members. However, some scammers use this as an opportunity to trick unsuspecting victims into giving out their information. 

Navy Federal emphasizes that they never use their social media accounts to obtain information from their members or anyone else—their social media accounts are strictly used to respond to people's comments. 

They also provide a list of their verified and official accounts for Facebook, Instagram, Twitter, and LinkedIn. If you receive a message not from any of these accounts claiming to be affiliated with Navy Federal, block and report them immediately. Then reach out to Navy Federal to let them know they are being impersonated. 

Card Cracking Scams

Card cracking is another scam that takes place over social media. Card cracking scammers will do the same thing as Navy Federal catfishers—the only difference between the two is their approach to getting your information. 

Card cracking scammers will post stories, run ads, or contact you directly to get you to cash checks for them in return for payment. However, in order to cash the check, you'll first need to provide them with your banking information, such as your: 

  • Account number
  • PIN 
  • Social Security number (SSN)
  • Debit or credit card numbers
  • Other personal information

How to Beat Navy Federal Scams

Don't be an easy target for scammers—keep your information safe and protect yourself from becoming a victim. If you want to protect yourself from Navy Federal scams you should follow these tips: 

  • Always double-check the caller or sender's credentials—make sure they match Navy Federal's information.
  • Never answer phone calls from numbers you don't recognize—let the call go to voicemail.
  • Save phone numbers of important organizations or companies so you know who is calling.
  • Never share passwords or card information over social media, via email, or over the phone, especially when someone contacts you unsolicited.
  • Don't respond to an organization on social media unless they are verified.
  • Keep a close eye on your debit or credit accounts and look for fraudulent activity.
  • Never click on suspicious links when you don't recognize the sender.
  • Always keep your account information private.

How Navy Federal Protects You From Scams

Navy Federal wants to give its members the best service possible, so they have a few benefits to provide their members some extra protection. 

Contact Details

Navy Federal Credit Union



Verified.org

Verified Contact Details

It's important to verify links and contact details to beat imposters.

Advanced Fraud Protection Systems

Navy Federal offers to scan members' accounts for unusual activity and protect their accounts from unauthorized purchases. If you do become a victim of fraud, Navy Federal wants to work with you to help restore your information and prevent further damage. 

Identity Verification

The only time you will ever be asked to provide personal information is if you call Navy Federal and try to access your account details. This is to verify your identity and keep your account safe. Navy Federal will never call you requesting your personal information.

Travel Notifications

Because Navy Federal protects your account against any unusual purchases, you should always update them when you are planning a trip out of state or further. By letting them know beforehand you can avoid the possibility of them locking your account for suspicious activity. You can call them at 1-888-842-6328. 

Zero-Liability 

Navy Federal has a zero-liability policy for their members who are victims. They even promise to try to get you your money back the same day you report the fraud. However, they only cover transactions that are obviously fraudulent and have been reported in a timely manner. 

Scams Impacting Navy Federal Credit Union

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News About Banking & Finance Scams

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N.J. Man Pleads Guilty to SIM Swapping Conspiracy Stealing Over $500k From Victims
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