Consumer

• H&FF Radio guest puts subprime shakeout in perspective
• Hot on the trail of summer camp discounts
• Credit unions call members to verify transactions

H&FF Radio guest puts subprime shakeout in perspective

WASHINGTON (5/9/08)--Getting a handle on the subprime mortgage crisis isn't easy, but the bottom line is that millions of families are at risk of losing--or already have lost--their homes. One of the guests on this Sunday's H&FF Radio show helps put the problem in perspective.

Home & Family Finance airs Sundays at 3 p.m. EDT on the Radio America Network. The one-hour program devoted to consumer finance issues is brought to you by America's credit unions and their 90 million members, and is presented by CO-OP Network.

The Credit Union National Association (CUNA) and Radio America are podcasting Home & Family Finance through iTunes, Podcast Alley, Odeo, and other popular podcast library sites, as well as on Radio America and CUNA's websites.

Sunday's show, which you also can hear later via the Internet, features Paul Berry, Washington, D.C., journalist and broadcaster, discussing these topics with special guests:

• "eXtension and Your Financial Security," with Jane Schuchardt, national program leader, U.S. Department of Agriculture's Cooperative State Research, Education, and Extension Service, Washington, D.C.;

• "Farm Transfers: Who'll Get Grandpa's Farm?" with Sharon DeVaney, Ph.D., professor, Department of Consumer Sciences and Retailing, Purdue University, West Lafayette, Ind.;

• "Refund Anticipation Loans," with Ed Mierzwinski, consumer program director and advocate, National Association of State Public Interest Research Groups (U.S. PIRG), Washington, D.C.;

• "Paying More for the American Dream: The Subprime Shakeout and Its Impact on Lower-Income and Minority Communities," with Geoff Smith, vice president, Woodstock Institute, Chicago, Ill.; and

• Paul Berry Answers Your Questions: Make sure the credit bureau has been notified when you close an account; delays in health insurance payments could damage your credit; delete computer files with shredding software; and probate and payable-on-death forms.

Home & Family Finance is a resource center for personal finance information at CUNA. The radio show is sponsored by CO-OP Network, the national credit union ATM network; Cabot Creamery Cooperative, maker of award-winning cheddar; Visa; and Western Corporate FCU and its member credit unions. For more information, listen to "Who Gets Grandma's Yellow Pie Plate?" in Home & Family Finance Resource Center.

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Hot on the trail of summer camp discounts

NORTH PALM BEACH, Fla. (5/7/08)--If you want your child to have a summer camp experience this year, there are discounts to be had--if you look for them (Bankrate.com April 23).

These tips can help keep summer camp expenses under control:

• Ask about scholarships. Most camps offer some sort of assistance, such as tuition reduction or discounts. These "camperships" may be based on financial need, while others may be based on talents and ability (Associatedcontent.com April 18). Check the camp's website for details, but also call the camp directly and ask about unadvertised scholarships.

• Check into organizational discounts. If your child belongs to the Girl or Boy Scouts, YMCA, or other group, ask about group discounts through the organization. Some churches or other nonprofit groups also may offer financial assistance based on need.

• Stay local. With sky-high gas prices, try to keep travel costs to a minimum while still choosing the camp that's right for your child.

• Get sibling discounts. It's likely the camp will give you a 5% to 15% discount if you send more than one child.

• Book early. Camps want a full house, and early enrollment could put your child in a better position to receive a scholarship. If you're sure your child will attend the camp next year, ask if signing up a year in advance can lock in this year's rate.

• Know the camp's refund policy. Before you sign up, anticipate that camp plans may fall through. Know your obligations, as well as the cut-off date to receive a full or partial refund.

For more information, read, "Research, Plan, and Budget for That Special Vacation" in Home & Family Finance Resource Center.

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Credit unions call members to verify transactions

MADISON, Wis. (5/5/08)--The next time your phone rings, it could be your credit union calling. Some credit unions, such as Great Wisconsin CU, Madison, Wis., are using automated telephone systems to verify account activity to stem the tide of fraudulent transactions (Credit Union National Association Center for Personal Finance).

The calls from credit unions are triggered by suspicious activity that hits a member's account.

The past few years have seen a flurry of civil lawsuits (Heartland Institute May 1), legislative initiatives at the state level, and now federal legislation that would criminalizie pretexting--a technique crooks use by calling unsuspecting victims and attempting to gather personal information under false pretenses. So it's important to know the difference between a legitimate call from the credit union and a fraudulent call from a crook.

Here's what to expect if your credit union is using an automated system designed to protect you from fraud:

• Watch for notices. You may receive pamphlets or statement stuffers announcing that your credit union may contact you in case suspicious activity hits your account. If you haven't received any information, you may want to contact your credit union and ask what fail-safe system is in place.

• Anticipate verification requests. An automated telephone call to protect you from fraud will ask to verify activity and is only used to prevent potentially fraudulent activity from continuing. A legitimate call from your credit union may ask you to verify your identity by confirming only the last four digits of your Social Security number. It will never ask you to give out account information.

• Think personal touch. Instead of an automated call, you may receive a call from a staffer at your credit union if transactions on your account are deemed extremely suspicious. This happens in rare cases when a large number of suspicious transactions appears on your account, or you have several transactions originating in a foreign country known for fraudulent activity.

• Be suspicious. If you are the least bit suspicious that the phone call you've received is not from your credit union and the caller attempts to extract account information, hang up. Pretexting is a form of phishing, a technique criminals use to gather personal and financial information and extract money from your accounts (ftc.gov/). Immediately notify your credit union by calling or visiting a branch to inform credit union officials that you've received a suspicious call. That way you can be certain you are speaking with a credit union representative and you can verify your account activity.

Finally, be proactive in preventing fraud in the first place. Switch to online banking for 24/7 access to your accounts. Keep up-to-date with your transactions and account activity whether your credit union has an automated telephone notification system or not. That way you can protect your account by notifying your credit union if you spot a transaction that isn't legitimate.

Also, contact your credit union if you're taking a trip to a foreign country or expect to use your account for transactions you normally wouldn't initiate. This will help you and your credit union better protect your account.

For more information, read "Con Artists Switch From Phishing to Vishing" in Home & Family Finance Resource Center.

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