Safeguard Your Finances Before Disaster Strikes

September is National Preparedness Month, a reminder that unexpected events like car accidents, earthquakes, severe weather, and power outages can happen at any time. While many people focus on emergency supplies, it's equally important to think about financial security.
 

1. Watch Out for Disaster-Related Scams

Scammers often take advantage of people during and after emergencies.
Be cautious if someone:

• Pressures you to act immediately.

• Requests payment upfront.

• Asks for personal or financial information.

• Demands payment through gift cards, wire transfers, or cryptocurrency.

Always verify who you're dealing with before sharing any information or sending money.
 

2. Secure Important Documents

Keep important documents in a safe place and consider maintaining digital backups in encrypted cloud storage or another protected location.
Examples include:

• Identification documents

• Insurance policies

• Medical records

• Mortgage or lease information

• Banking and account information

3. Create a Financial Safety Net

Building an emergency fund can help you navigate unexpected expenses, but it's important to keep those funds in a safe and secure location. Consider storing your savings in a federally insured account and using security features such as strong passwords, multi-factor authentication, and account alerts to help protect against unauthorized access.
 

4. Be aware of Insurance Fraud

Fraudsters often pose as insurance representatives, contractors, or claims specialists to take advantage of people during stressful situations.
To help protect yourself:

• Verify the identity of anyone claiming to represent your insurance company.
• Be cautious of unsolicited offers to handle claims, repairs, or settlement payments.
• Review insurance communications carefully and contact your insurer directly if something seems suspicious.

If you missed our June 28 National Insurance Day reminder, now is a good time to review your coverage. Understanding your coverage before an emergency occurs can also help you recognize potential scams.

Be Prepared Before You Need to Be
Preparedness doesn't have to be overwhelming. Creating an emergency plan, maintaining an emergency fund, and organizing important documents are simple steps that can make a big difference. This National Preparedness Month, take a few moments to strengthen your financial readiness and help protect yourself and your family from the unexpected.

At Provident Credit Union, we're committed to helping our members build financial security and confidence through every stage of life. For any additional financial guidance, meet with a financial coach:

 

Schedule an Appointment with a Financial Coach

Important Reminder: Provident will never call, text, or email asking for your password, PIN, passcode, or online banking credentials. If you receive a suspicious communication claiming to be from Provident, do not respond. Instead, contact Provident directly at (800) 632-4600.