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The Column - April 15, 2021FORGIVENESS FRAUD There is a new scam that targets people dealing with student loan debt. Like often happens, thieves are taking advantage of a news cycle to seize an opportunity. This time they have focused on the discussion of student loan forgiveness. The scam starts with a thief either calling or emailing you. When they call, they typically use a local area code to add another layer of deception. The caller claims they are contacting you because your student loan debt is eligible to be wiped clean. They usually drop in some info to make them sound legitimate - in particular, they have been using phrases like “Biden relief program” and “stimulus relief offer.” The scammer then claims they just need some more personal info from you and/or a small payment to complete the debt forgiveness process. The email scam works much the same way. The scammer will include some official sounding language, then ask you to click a link to access debt forgiveness. Of course, there is no such relief program. The scammers just want your info and money. As Marketwatch.com reports, the key to avoiding this scam is to keep in mind that anyone promising federal student loan forgiveness is lying. There are no programs. At least not yet. Anyone who says that they can work to reduce your debt is also lying. If you are contacted by one of these scammers, hang up and contact your loan servicer and report the scam. You should also contact the FTC and log a complaint. As an extra layer of protection, change your passwords for your financial institution and student loan servicer. This article and many more are available through our Credit Sense service which can be accessed via Online or Mobile Banking. IS PARKING AN ISSUE? A frequent point of conversation in our town is the availability (or lack thereof) of parking in our downtown area. As I have travelled to other towns that have significant tourist activity concentrated in a “downtown” environment, I’ve come to realize that regardless of where you park, you normally have to walk four or five blocks to get to your destination. If you apply that distance to downtown Boulder City, there are numerous parking areas available that only require a short walk (i.e., three or four blocks) to your desired establishment, and these spaces are easily available after 5:00 p.m. each evening. If your desire is to park directly in front of your destination, then you will always have a parking problem. If you view the walk from your car to the business as a great way to see our downtown and its various offerings, then maybe we don’t have a parking problem at all. Many who travel to our town do so because of how easily “walkable” our downtown area is. If we all view it that way, parking becomes much less of an issue. CO-OPERATIVE As a reminder, Boulder Dam Credit Union is a co-operative. No stockholders, no paid Board of Directors, and we are accountable to no outside investors only to you, our members. Likewise, having a “co-operative” spirit makes life as a Boulder Dam Credit Union member much more engaging and rewarding. Members who have the greatest struggle with Credit Union membership tend to be those who want to know “what is in it for them” or want to be treated differently due to how much they save or borrow. Not everyone is a fit for a co-operative financial institution but, based on recent numbers, approximately 75% of Boulder City find it rewarding! WORDS OF WISDOM “Each one has to find his peace from within. And peace to be real must be unaffected by outside circumstances." - Mahatma Gandhi |