Caltech Employees Federal Credit Union Guide for Employees

As a Caltech employee, you're probably aware that the Caltech Employees Federal Credit Union is a unique perk offered to you and your family. It's a not-for-profit, member-owned financial cooperative that's been serving the Caltech community since 1956.

The credit union is a great place to manage your finances, with a range of services available to help you save, borrow, and invest. Plus, you can access your accounts online or through the mobile app, making it easy to stay on top of your finances from anywhere.

One of the best things about the credit union is its commitment to serving the Caltech community. As a member, you'll have access to a range of exclusive benefits, including competitive interest rates and lower fees.

The Caltech Federal Credit Union was established on April 11, 1950 by seven employees of the Institute.

Each of these founding members contributed one share, $5.00, to the first pool of Credit Union money.

The Credit Union has grown from those first seven member accounts over more than 60 years of service.

At Caltech Employees Federal Credit Union, you're not just a member, you're part of a community. The credit union serves the Caltech community, including employees, students, and their families.

The credit union offers a range of services to make your financial life easier, including online banking and mobile banking. This means you can manage your accounts and pay bills from anywhere.

Membership is open to those who work, study, or live near Caltech, making it a convenient option for many people.

Having accurate and up-to-date employee information is crucial for making informed business decisions.

Having a centralized system for storing employee information can save a business up to 50% of the time spent searching for and retrieving employee records.

A well-maintained employee database can also help reduce errors and inconsistencies in employee data, which can lead to costly mistakes and compliance issues.

Regularly updating employee information helps ensure that benefits, payroll, and other HR systems are accurate, which can prevent costly errors and fines.

Maintaining accurate employee information can also help businesses make informed decisions about promotions, training, and other employee development opportunities.

Inaccurate or outdated employee information can lead to missed opportunities for employee growth and development, as well as wasted resources on training and development programs.

By keeping employee information organized and up-to-date, businesses can improve employee satisfaction and engagement, leading to increased productivity and retention.

The average annual salary for employees at Caltech Employees Federal Credit Union is $107,769, which translates to an approximate hourly wage of $52.

Salaries at Caltech Employees Federal Credit Union can vary significantly based on factors such as job role, experience, education level, certifications, and more.

The highest average annual salary is held by Vice President, Operations, with an average salary of approximately $317,438 per year.

The lowest-paid position is Real Estate Receptionist, earning around $43,271 annually.

Here's a breakdown of average salaries for various roles at Caltech Employees Federal Credit Union:

As a Caltech Employees Federal Credit Union member, it's essential to be aware of the common scams that can target you. Phishing scams have become increasingly prevalent, with scammers trying to trick you into providing sensitive information by imitating legitimate websites and email messages.

To avoid falling victim to phishing scams, recognize the red flags: be cautious of emails or messages that ask for your passwords or other sensitive information, and never respond to suspicious emails or messages. IMSS is implementing new email security measures to counter these attacks, but you can also help by being vigilant.

Imposter scams are another threat, where scammers use public information to impersonate a faculty or staff member. They may start with a seemingly innocuous message like "Are you available?" and then try to convince you to buy gift cards. Be wary of such messages and never provide financial information to unknown individuals.

Bank scams are also a concern, with scammers trying to trick you into sharing personal financial information or installing malware on your devices. Some common tactics include sending fake checks, spam emails, or fake text messages that require you to respond with a log-in code or download malware. Always be cautious when receiving unsolicited emails or messages asking for financial information.

Here are some common ways bank scammers will target you:

Phishing scams are a common threat, and they work by imitating legitimate websites and email messages to trick people into providing sensitive information.

Phishing attempts have become increasingly prevalent and targeted, which is why it's essential to be aware of the tactics used by scammers.

To recognize a phishing scam, look out for suspicious emails or messages that ask for personal or financial information.

Imposter scams often start with a seemingly harmless message, but can quickly escalate into a request for gift card purchases.

Be cautious of public information, such as directories and org charts, being used by scammers to impersonate faculty or staff members.

Bank scams require you to share personal financial information, install malware on your devices, or use unverified checks and banking material.

Here are some common ways bank scammers will target you:

Use strong and unique passwords for all accounts, and change them regularly to minimize the risk of password compromise.

Two-factor authentication (2FA) adds an extra layer of security by requiring a verification code sent to your phone or email in addition to your password.

Regularly review your account activity to detect any suspicious transactions or login attempts.

Avoid using public computers or public Wi-Fi to access your accounts, as these can be vulnerable to malware and hacking.

Enable account alerts to notify you of any changes to your account, such as login attempts from unfamiliar locations.

Keep your devices and browsers up to date with the latest security patches and updates to prevent exploitation of known vulnerabilities.