Lending Union West Coast Branch Scam | How to Protect Yourself

Based on information from the Better Business Bureau (BBB) and various news reports, “Lending Union West Coast branch” is not a legitimate company. It is the name used by scammers in a known phishing scheme.

How it works:

Scammers, often using names like “Evelyn” or “Jessica,” make harassing phone calls and leave voicemails claiming to be from “Lending Union’s west coast branch.”

They say you have a loan application that is almost approved and that they just need to confirm a few details, like your income, to finalize it. They often provide a fake application ID and a callback number to make the message seem official.

The goal:

The scammers’ true intention is to trick you into sharing sensitive personal information, such as your Social Security number or bank account details, which they can then use for identity theft or other fraudulent activities. There is no loan.

Red flags:

The messages often create a sense of urgency, urging you to call back before a specific deadline. They may also be vague and use scripted language. The BBB has received numerous reports about these calls, often from different phone numbers but with similar messages.

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Common Signs of a Scam:

1. Unsolicited Contact:

   • If you receive unexpected phone calls, emails, or messages from someone claiming to be from a “Lending Union” or any financial institution asking for your personal information, it could be a scam.

2. Too Good to Be True Offers:

   • Scammers often promise low-interest loans, “exclusive” deals, or loan approvals without any background checks. If the terms sound unusually good, that’s a red flag.

3. Pressure Tactics:

   • If you’re being pushed to make decisions quickly or pressured to share personal information (like Social Security numbers, bank account details, or passwords), that’s typically a sign of fraud.

4. Requests for Payment Upfront:

   • Scammers may ask for an upfront payment for processing fees, insurance, or other charges before disbursing a loan or giving you access to funds. Legitimate lenders do not ask for money upfront.

5. Suspicious Websites or Phishing Links:

   • Look out for official-looking but slightly off websites or emails that direct you to enter sensitive information. Check for minor inconsistencies in domain names, logos, or contact info.

How to Protect Yourself:

1. Verify the Institution:

   • Check legitimacy: Always verify the lender’s official website and contact information. Cross-reference with reliable sources (like the Better Business Bureau or the official regulatory body for financial institutions in your area).

   • Look for red flags like poor website design, missing contact info, or spelling errors.

2. Don’t Share Personal Info:

   • Keep your details private. If you’re ever unsure, don’t provide personal, financial, or security information over the phone or through email.

3. Use Secure Payment Methods:

   • Always use trusted, secure payment methods (like a credit card or secure bank transfer). Avoid sending money via wire transfer, prepaid cards, or other untraceable methods if you’re unsure of the legitimacy.

What to Do If You Suspect a Scam:

1. Contact the Real Institution:

   • If you’ve been contacted by someone claiming to be from a specific Lending Union or financial institution, call the branch directly using a phone number from their official website (not one given to you by the caller).

2. Report the Scam:

   • Federal Trade Commission (FTC): If you’re in the U.S., report the scam to the FTC (ReportFraud.ftc.gov).

   • Consumer Financial Protection Bureau (CFPB): If it’s related to a loan or financial institution, you can file a complaint with the CFPB (www.consumerfinance.gov).

   • State Regulators: Contact your state’s attorney general or financial regulatory office to report any scams.

   • Local Authorities: If you’ve been defrauded or lost money, file a police report.

3. Monitor Your Financial Accounts:

   • Keep an eye on your bank statements and credit reports for unusual activity. If you suspect any compromise, consider freezing your credit or placing fraud alerts.

How to Verify Lending Institutions:

• Check Licensing: In many areas, financial institutions, including lending unions, need to be licensed by a local or federal regulatory body. Verify the institution’s license number and check for any complaints or actions taken against them.

• Look Up Reviews: Search for customer feedback and reviews. A quick Google search or a visit to Trustpilot or Better Business Bureau can give you insight into the legitimacy of the institution.