Even people who know better fell victim to a social engineering test conducted by Trusteer, the company says.
Terrie Mavros, electronic marketing specialist at a New Hampshire credit union, found that a complaint on Facebook created an opportunity for some positive public relations.
Expansion into new areas like business services and new channels like P2P and mobile present new opportunities for credit unions and fraudsters alike.
Credit unions and social media seem to be made for each other, which is both a good thing and maybe not so much.
While it may be unclear if the two are connected, some financial advisers that use social media professionally are seeing higher revenue growth and larger client bases compared to advisers that do not use the network channels.
The very things that make social media so popular also make them a potential problem for credit unions, their members and those in charge of fighting fraud.
LAS VEGAS -- Fifth Third Bank's cool new ad campaign had gone viral, generating hundreds of thousands of views across the country by people amused by the antics of Kyle the clueless college kid.
Social media isn't just for kids anymore. It has become mainstream and we receive more questions about it from our advisers each year.
"What are credit unions doing to attract, retain and reward the future leaders of the industry?" Guest Blogger Tim McAlpine asks.
Last night I was chatting with an old high school friend on Facebook who I hadn't spoken to in years. With the expansion of social media we were able to reconnect.