Romance Scams Are Rising and Credit Unions Play a Critical Role in Prevention

By Kevin King, Vice President and IT Information Security Officer, Members 1st Federal Credit Union

ENOLA, Pa., March 25, 2026 /PRNewswire/ -- Romance scams are no longer tied to a specific season—they are a year-round threat growing in scale, sophistication and impact. As more people form connections through dating apps and social media, fraudsters are exploiting trust and emotion in increasingly calculated ways. For credit unions, which value "people over profits," and excel at customer service, this ongoing trend presents a critical opportunity to educate members, recognize warning signs early and intervene before financial and emotional damage occurs.

According to the Better Business Bureau, romance scams ranked as the second most costly scam of 2025, with losses exceeding $600 million nationwide. These scams are highly coordinated, emotionally manipulative and increasingly sophisticated.

A romance scam typically begins with a fake online profile designed to look real and appealing. Over time, the scammer builds trust with their victim, often communicating daily and moving conversations off dating apps and other public platforms. Once an emotional connection is established, a request for money typically follows. It may be framed as a medical emergency, a business need or travel costs to finally meet in person. While the relationship feels personal, the goal is always financial gain.

Romance scams can be particularly devastating because they don't just affect finances, they also take an emotional toll. Victims are often targeted during vulnerable moments such as loneliness, grief or major life transitions. Many victims hesitate to report what's happening out of fear or embarrassment, which can unintentionally allow scammers to continue their efforts.

Credit unions are uniquely positioned to help stop these scams. Frontline associates in branches may notice unusual transaction patterns, sudden wire requests or members withdrawing large sums for suspicious reasons. These moments matter. A thoughtful question or an intentional pause can prompt a member to reconsider and seek advice.

In our opinion, education is the true first line of defense. At Members 1st Federal Credit Union, we encourage our members to:

• slow down and verify before sharing personal information;
• never send money to someone they have not met in person, no matter how convincing the story sounds;
• watch for red flags such as inconsistencies in details, requests for secrecy or pressure to act quickly; and
• talk to a trusted friend or family member who can provide clarity when emotions may be clouding judgement.

It is just as important for members to know they are not alone if something feels off. We consistently remind members that reaching out to us right away can make a real difference. The sooner a financial institution is informed and involved, the more options there may be to secure accounts, stop transactions and prevent further losses. Even if a situation turns out to be nothing, asking early is always the right step.

By raising awareness of fraud and building trust with members, credit unions play a vital role in protecting finances and peace of mind.

Media Contact:
Courtney McFarland
Communications and Public Relations Manager
Mobile: (717) 829-3776
[email protected]

SOURCE Members 1st Federal Credit Union