MCU Newsline

Early Closure Notice – March 27, 2018

Members Credit Union will close at 4:30pm on Tuesday, March 27, 2018 in preparation for our 63rd Annual Meeting which will begin at 6:00pm at the Cleburne Conference Center. All members are invited to attend. There will be a short business meeting followed by a door prize drawing.

Important Tax Fraud Alert


The Internal Revenue Service today is alerting financial institutions to the proper handling of erroneous federal tax refunds resulting from an emerging fraud scheme that could affect thousands of people across the country.

Financial institutions using external leads process should include the reason the refund is being returned, i.e. refund is not the taxpayer’s. More information is available at Publication 5033, IRS External Leads Program: Fact Sheet on Submitting Leads.

Just days into the start of the 2018 filing season, the IRS identified a new scam in which cybercriminals have stolen client data from tax professionals and filed fraudulent refunds using real taxpayer information, including bank account and routing information for direct deposit.

The fraudster then contacts the taxpayer posing as an employee of a debt collection agency working on behalf of the IRS. They ask the taxpayer to take certain steps to return the refund, but actually the refund goes to the criminals.

IRS guidance to taxpayers who are victims asks them to contact the Automated Clearing House (ACH) department of the bank/financial institution where the direct deposit was received and have them return the refund to the IRS. The IRS also asks the taxpayers to call the agency toll-free at (800) 829-1040 (individual) or (800) 829-4933 (business) to explain why the direct deposit is being returned.

There is more information for taxpayers at Tax Topic Number: 161 – Returning an Erroneous Refund.

Notice of Election of Board Members

The following Board Members had terms that either will, or would have expired at this year’s upcoming Annual Meeting which will be scheduled for March 27, 2018: Chris Cooke – 2018 (3 year term), David Barkley – 2018 (3 year term), Gary Heinrich – 2018 (3 year term)

The Board of Directors has selected the following person to serve as the Nominating Committee, for consideration of all qualified applicants for a position on the Board of Directors.  The members are as follows: Cecil May, Cleve Weyenberg Jr., and Greg Wilmore.


Mark Your Calendar!

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The MCU Annual Meeting will held on Tuesday, March 27 at 6:00pm at the Cleburne Conference Center. Please mark your calendar and plan to attend. There will be a short business meeting followed by a door prize drawing. Each adult member will receive one ticket (per person, not per account) for the drawing.

Protect Your Account with CardValet


Download our free app in the App Store or Google Play. This app allows you to set geographical areas in which your debit card can be used, set spending limits, merchant types, even turn off and on your debit card so it’s only available when you are ready to use it. Receive real time notices for when, where and how much your card was used for. Fraud is easier to spot and transactions will be automatically declined if they don’t meet the parameters you have set. Help protect your account by using CardValet.

Annual Reminder – Free Credit Report

When’s the last time you took a look at your credit report? You should take the time once per year to review your report for FREE. Here is the link to the official site to receive your report. This IS NOT, which in fact charges you a monthly fee to check your report. This is the official site of the three major credit reporting agencies to help consumers obtain their free credit report annually.

This central site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.