THINGS TO KNOW BEFORE ENTERING THE HOUSING MARKET
At YNCU, we know entering the housing market is a daunting task. School does not prepare you for the financial risk you take when purchasing a home for the first time. We want to share with you some tips to help you enter the housing market, responsibly.
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Anyone can fall victim to financial fraud. It never discriminates and comes in many forms. With reports of fraud dramatically increasing across the country, it’s important to be alert and educate yourself. Fraudsters are savvy and target anyone from teenagers to grandparents to established corporations. New scams are emerging daily so it pays to educate yourself. If you suspect you are a victim of fraud, contact YNCU immediately at 1-888-413-YNCU (9628) and report it to your local police. Know that you are not alone. We are here to help!
Pharmacy Scams – you would receive a phone call from someone claiming to be from your pharmacy looking to update your information. Think before you act and ask questions.
Tech Support – you would receive a phone call, email, or website pop-up claiming your computer is under attack. Remember that tech support services do not send unsolicited email messages or phone calls requesting personal information.
Canada Border Services Agency – you would receive a phone call or email from someone claiming to be from CBSA regarding a package being held at customs. CBSA will never request your private information for an item being held. If you are unsure, contact CBSA directly to confirm the legitimacy of the call.
Giveaways – Entering social media giveaways seems harmless, but make sure you are keeping an eye out for impersonator accounts claiming you have won. These accounts will typically have subtle differences in their name and will often contact you outside the expected timeline. Do not give them any personal information and contact the original poster.
Online Reviews – be wary of reviews claiming an employee helped them with their investment strategies. These fraudulent reviews will often include a Whatsapp number and email to contact their financial advisor. All of our advisors would have an email address that ends in yncu.com.
Remember, if it sounds too good to be true, it probably is. For an up-to-date list of scams, visit antifraudcentre.ca.
Help us prevent fraud by sharing these videos of common scams to look out for with your friends and family!
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Your Neighbourhood Credit Union (YNCU) is a licensed credit union operating in, and under the laws of, the province of Ontario. Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA) .