Monthly Newsletter

Volume 6, Issue 2

SMALL ENOUGH TO CARE. BIG ENOUGH TO GIVE YOU THE BEST IN BANKING!

This month in history

On Thursday, February 23, 1871:

Isaac Slenker puts up for sale his one-third interest in the Doe River Woolen Mills for $3,500 ($115,000 in today’s dollars). The Mill, located on the Watauga side of Race Street, employs over 40 people and produces blankets, yarns, jeans, and socks.

Customer Spotlight

John D. Snyder, Sr. has been a loyal customer since 2002 and greatly appreciates the excellent customer service and welcoming atmosphere at EFSB.

https://elizfed.com/services/loans-and-credit/

Information from The Current Newsletter by Kim Kimando

Imagine getting a call from what looks like your bank’s number, warning you about suspicious activity on your account. The caller knows just enough to make you trust them. It’s all a lie, and you’re screwed if you don’t realize that soon enough.

Kay in Virginia didn’t, and the 80-year-old lost her life savings — tens of thousands of dollars drained from her Wells Fargo account from one phone call. Another woman just lost $56,000 to the same kind of scheme.

Cybercriminals are pros at making their tricks feel real, and their methods are constantly evolving. It’s not just calls. Here’s a breakdown of common scams they’re using right now and how to stay protected.

Fake banking apps

Scammers create counterfeit versions of popular banking apps, complete with realistic logos and interfaces. They send you the link, and you download it, thinking it’s the official version. Once you log in, they steal your credentials.

✅ Stay safe: Always download apps directly from your bank’s official website or the app store. If there’s a suspiciously low number of downloads or reviews, move on.

Phony bank emails with verified logos

AI tools make it a breeze to create convincing emails with verified sender logos and signatures. These emails may even mimic your bank’s official communications. One such email fooled a woman in Cleveland out of $23,000 in just a few hours.

✅ Stay safe: If you’re ever unsure about an email, don’t click anything in it. Log in directly through your bank’s website, or call the number on the back of your card.

Scammers thrive on fear and urgency

They count on you to react quickly, especially when they create a sense of urgency. The best way to protect yourself? Slow down, think things through and take proactive steps like these to secure your finances:

§ Review your transaction history every few days: The sooner you catch fraudulent activity, the better your chances of resolving it.

§ Set up alerts: In your banking app, turn on alerts for transactions over a certain amount or made in a foreign country. Also, enable notifications about suspicious activity, like attempted logins from a new browser.

§ Set limits: Some banks let you set transaction limits on withdrawals or purchases, too. Poke around in your bank’s app to check your settings.

(Kim Komando, Scammers are banking on fooling you - don't let them win. The Current. 2025 Jan 6)

While EFSB may send texts asking you to confirm if a transaction is valid, we will never end a text or email with a link.

February is here! Start the month off right by setting your financial goals. Let Elizabethton Federal Savings Bank help you save, grow, and succeed! Visit

elizfed.com

today! #ElizabethtonFederal #FinancialGoals #BankLocal

Call Elizabethton Federal Savings Bank to start your journey to homeownership! Instead of an impersonal call center, our unbeatable personalized customer service and approach can make homeownership possible – and pleasant! Learn more at the link in our bio. #HomeLoans