Alert - Home Warranty Scam

Cooperative Federal members have reported receiving a letter from "Home Warranty Division," requesting a payment by phone to activate or renew Home Warranty coverage. The letter attempts to deceive people into thinking their coverage is expiring and they need to take action right away. 

This is a nationwide scam. Please DO NOT respond to this offer.

The letter may list Syracuse Cooperative Federal Credit Union (or other mortgage lenders) in order to deceive homeowners. At the bottom, it may also say "We are not affiliated with your current mortgage holder."

No action is needed, and we recommend you shred or recycle this letter.

"Allocated Waiver" Check Scam

Another common scam involves members receiving letters and checks in the mail, claiming to be an "allocated waiver." This scam frequently targets new homeowners, shortly after opening a mortgage, urging them to deposit the check before the "waiver" is revoked. Fraudsters use public records of real estate sales to target this scam.

DO NOT deposit this check or respond to the letter.
 

No action is needed, and we recommend you shred or recycle this letter.

Tips to avoid common scams:

• Stop. If you receive a phone call, letter, email or other solicitation that you don't recognize, never give out your account number, social security number, or other sensitive information. Never cash a check that you did not expect and cannot verify. 
• Inspect. Read the small print. Solicitations for services will often make it sound like you owe money, but may disclose "this is not a bill" or "we are not affiliated" with your service provider.
• Verify. If the phone call, letter, or email claims to be from a company you work with, such as Cooperative Federal, you should always contact them at phone number or email address that you can verify is legitimate.