This time of the year we always see an increase in both Debit/Credit Card Fraud and Social Engineering Scams.  Here at The Cooperative Bank of Cape Cod, we have a number of tools and resources you can use to be on guard for Fraud attempts and how to spot Scams.

When it comes to keeping watch over your accounts and the transactions debiting and crediting your accounts, The Cooperative Bank of Cape Cod has a number of useful tool to help you.  Online Banking and Mobile Banking are available 24 hours a day, seven days a week.  When enrolled in these products, you may set up various notification and alerts that will inform you of various types of activity.  With our Mobile Applications, you can even turn on or off your Debit Card if you suspect fraudulent activity.  Visit https://staging.thecooperativebankofcapecod.com/manage-my-cards/ for more information.

Are you using Zelle?  It’s a fabulous tool to instantly transfer money to people that are well known to you. What happens when you’re unsure about using Zelle to pay someone you don’t know?  If you don’t know the person, or aren’t sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle for these types of transactions.  We have an entire Frequently Asked Questions page about Zelle on our website, you may access it here https://staging.thecooperativebankofcapecod.com/zelle-faqs/

A scam does not have to be elaborate to fool someone.  Scammers have a vast toolbox they can pull from to use tried and true scams from years gone by to more elaborate scams using today’s most advanced technology.  Whether the scam is old or new, these scams usually have warning signs that should help you spot them.

Scammers usually pretend to be contacting you from a legitimate organization.  It is very easy for a scammer to manipulate the phone number you see displayed in the caller id on your telephone.

Always authenticate who you are speaking to and learn the Warning signs of a scam:

• Pressure for you to act immediately
• You are in trouble with the government (IRS, Local Sheriff, etc.)
• You have won a prize
• Scammers will manipulate the method they want you to pay them
  • Such as gift cards
  • Or, they may send you a check and ask for you to send money back; however, the check they sent you turns out to be fake

How you can avoid Scams:

• Authenticate who you are really dealing with outside of the initial contact. For instance, if the caller claims to be from the IRS, get off the call, look up the phone number for the IRS, then call the IRS office directly.
• As a rule of thumb, NEVER give out personal or financial information for a request you were not expecting or you did not initiate.
• Slow down, think, and then respond. You should not feel pressured into acting immediately.
• Get a second opinion! Stop and ask someone you trust.

For more information, please visit one of the following resources:

The Cooperative Bank of Cape Cod’s website security page:

https://staging.thecooperativebankofcapecod.com/resources/your-security/

The Federal Trade Commission (Identity Theft and Online Security)

https://consumer.ftc.gov/identity-theft-and-online-security

The Cooperative Bank of Cape Cod has been named one of the “Best Banks to Work For” by American Banker magazine for the third consecutive year.

The “Best Banks to Work For” is an annual survey and awards program dedicated to identifying and recognizing the industry’s best employers and providing organizations with valuable employee feedback.

“To be recognized again for workplace excellence by American Banker is a profound and humbling honor,” said Lisa Oliver, Chair, President and CEO of The Cooperative Bank of Cape Cod. “It is particularly gratifying that this outstanding designation was significantly based upon an independent survey of all The Coop’s employees. In 2023, we look forward to evolving The Coop into an even better place to work.”

American Banker recognized 90 banks across the U.S. that have less than $3 billion in assets.

Determining the “Best Banks to Work For” involves a two-step process. The first step involves an evaluation of participating companies’ workplace policies, practices, and demographics. In the second step, employee surveys are conducted to directly assess the experiences and attitudes of individual employees with respect to their workplace. The combined scores determine the top banks and the final ranking. Full results of this year’s program are available at https://www.americanbanker.com/list/best-banks-to-work-for and in the November issue of American Banker magazine.

Empowering employees to strike an appropriate work-life balance is of utmost importance to bank leadership and played a significant role in The Coop’s award designation.

The Coop offers a “work where it works” program that provides hybrid work arrangements for many bank roles, to allow for flexibility and work/life balance. Family members are often invited to corporate events, and the bank helps to pay for childcare, offers flexible time off so employees can attend important family events and provides an extensive wellness program that supports an employee’s overall well-being.

Additionally, The Coop has multiple recognition programs that acknowledge exceptional customer service and collaboration, is committed to diversity, equity and inclusion in the workplace, and encourages volunteerism in the communities it serves.

The Cooperative Bank of Cape Cod has partnered with SCORE Cape Cod & The Islands to host a free online workshop titled “Cybersecurity – How to Identify Your Weaknesses Before a Cybercriminal Does” on Wednesday, October 19 at 9 a.m.

Since 2004, October has been declared Cybersecurity Awareness Month by the President of the United States and Congress.

Paul Forni, The Coop’s Information Security and Red Flag Officer, will provide workshop participants with invaluable insight regarding best practices to secure computing environments and how to avoid becoming the victim of a cybercriminal.

“The threat of cybercriminals and online fraud continues to increase and it is crucial that consumers and businesses be aware of warning signs, techniques and technology to prevent costly and disruptive attacks,” said Lisa Oliver, Chair, President and CEO, The Cooperative Bank of Cape Cod. “The Coop is proud to present this important cybersecurity workshop with SCORE Cape Cod & The Islands, which offers vital mentorship to entrepreneurs, businesses and nonprofits throughout the region.”

Additional information and registration for the workshop can be found here.

Allyson Brainson is a Vice President and Small Business Relationship Manager with The Cooperative Bank of Cape Cod. Contact Allyson at 508.568.1205 or abrainson@mycapecodbank.com.

Business owners – regardless of how big or small the business may be – face a seemingly endless stream of decision making.  The Coop’s business clients are no exception, particularly during a busy summer with a multitude of issues to address – labor shortages, supply chain glitches and how to keep pace with rapidly changing technology.  It’s no wonder we often hear business owners say, “there just isn’t enough time in the day to get everything on my plate done.”

As a community bank, one of the most important things we do is support our business clients in their success and growth.  And that goes far beyond typical financial products such as checking accounts.

Our latest endeavor to support the business community is a partnership with Clover, a point-of-sale system at its core, but one that offers so much more.  Its flexible, intuitive, all-in-one system addresses many of the challenges we’re hearing from businesses.

For starters, it’s not one size fits all. Every industry and business needs solutions custom fit for them.  Maybe you need a handheld POS for curbside pick-ups or for you wait staff to take payments right at the table. Maybe you’re a landscaper who wants to collect payments on the job site. Or you’re an accountant who works from home and invoices clients electronically.  Maybe you’re a large-scale retailer who needs a full-scale POS system with multiple registers. We start by doing a deep dive into our client’s business to tailor fit a system right for them.

It’s also flexible. Business needs ebb and flow along the way. As your business grows and consumer behavior changes, your needs will change.  The system is designed to be flexible enough to change with you…easily.

Clover also helps a business keep up with the constantly evolving digital payment methods like Apple pay, Google pay and Samsung pay, along with traditional credit cards. And its portable units can work with Wi-Fi or LTE, so you can take payment from your customers wherever they may be.

It’s more than a POS system, though, and that’s what gives it a real edge. It’s a full-scale, business management solution that can tackle everything from inventory management, employee schedules and payroll to maintaining a waitlist and scheduling clients. The system is complemented with 500 apps designed to meet the unique needs of restaurants, retailers and service businesses. So, essentially it can fulfill roles like bookkeeper, receptionist, accountant, scheduler and inventory manager, to name a few. Clover can take a lot off a business owner’s “to do” list.

To learn more about The Coop-Clover partnership, please visit mycapecodbank.com/clover for additional information and two dedicated episodes of the Business sCOOP video series.

Clover is just one example of the type of products and services The Coop offers business clients. If your relationship with your bank is purely transactional, you’re missing out on a wealth of resources at your disposal.  Your banker, especially your community banker, is invested in your success and growth. If you haven’t talked to them lately, now is a great time to start a conversation.  You might be surprised how much they have to offer.

Allyson Brainson is a Vice President and Small Business Relationship Manager with The Cooperative Bank of Cape Cod. Contact Allyson at 508.568.1205 or abrainson@mycapecodbank.com.