Electronic banking is beneficial to most members because it means having 24-hour access to cash through electronic devices, such as: ATMs, direct deposits of your pay directly into your account or the use of check cards or credit cards. Even though electronic banking offers you convenient access to your funds at any time, you need to be aware of the risk and take all precautions for protecting your finances.

Listed below are suggestions for protecting your funds online:

• Always know where your check card is at all times. If you lose it, report it as soon as possible.
• Choose a PIN for your cards that’s different from known or public numbers like your phone number, birthday or address. This will make it more difficult for someone to use your card.
• Keep and compare your receipts for all of your transactions. That way, if any discrepancies come up, you can report them immediately.
• Make sure the merchant you are doing business with is reputable before your share any bank account information.

Content supplied by: Federal Trade Commision - Facts for Consumers. [Full text version]