Unemployment Scams: How to Protect Yourself

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Unemployment benefits are meant to help people without a job during tough times. Unfortunately, scammers have been known to sometimes take advantage of the system by filing for these benefits using someone else’s personal information. Even if you never applied for unemployment, you could suddenly receive benefits notices, tax forms, or even payments tied to your identity. That’s a big red flag. Keep reading to learn how to spot an unemployment scam and ways you can protect yourself and your finances.

How to Spot an Unemployment Scam

There are often a few telltale signs something isn’t right. If you applied for unemployment, you might find that your application was denied because someone already filed under your name, or that your benefits were approved – but the money never arrived.

If you didn’t apply, you may receive letters from the state unemployment office, a notice from your employer that someone used your identity, or even a 1099-G tax form showing unemployment income you never received. In some cases, money may even show up in your bank account, followed by a call from someone claiming it was a mistake.

Why This Matters

Unemployment scams often lead to bigger problems. Identity thieves may use your personal details to commit other types of fraud, damage your credit, or create headaches at tax time. If you do ever need unemployment benefits in the future, your claim could also be delayed or denied.

How to Protect Yourself

To avoid an unemployment scam from happening to you:

  • Only share sensitive information like your Social Security Number or bank details through official, trusted channels.
  • Always file for unemployment directly through your state’s unemployment agency website.
  • Monitor your credit reports for suspicious activity and consider freezing your credit if you suspect fraud.
  • Watch for IRS forms that don’t match your situation, such as a 1099-G for benefits you didn’t receive.
  • Report suspicious activity right away to your state unemployment office, your employer, and the FTC.

First Financial is Here for You

At First Financial, we take your security seriously. Our team works around the clock to protect our members’ accounts, monitor unusual activity, and provide resources if you think you’ve been a victim of fraud. If you ever suspect an unemployment scam or identity theft regarding one of your First Financial accounts, reach out to us immediately – we’re always here to help safeguard your finances.

Stay up to date on the latest in scams by subscribing to our First Scoop Blog, and following along with our Important Alerts and Scams articles.

Budget Friendly Fall Activities for Kids

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Autumn is the perfect season for family fun. Crisp air, colorful leaves, and plenty of opportunities to create lasting memories without stretching your wallet. At First Financial, we know that keeping kids entertained while staying on budget matters. That’s why we’ve rounded up a few creative, affordable activities your whole family can enjoy this fall.

1. Go on a DIY Nature Hike & Scavenger Hunt

Turn an afternoon walk into an adventure by creating a fall-themed scavenger hunt. Make a checklist of things to find – such as acorns, pinecones, colorful leaves, or animal tracks. Kids love the thrill of the hunt, and it’s a great way to teach them about nature while staying active. Bonus: Items you find can also be used for fun craft projects at home.

2. Create Fall Crafts from Nature

Put those collected treasures to good use! Acorns, dry leaves, pinecones, and twigs can be turned into seasonal crafts. Try leaf rubbings with crayons and paper, paint pinecones to make mini “pumpkins,” or glue acorns and leaves onto a festive fall collage. These crafts can also double as low-cost home décor.

3. Host a “Home” Tailgate

You don’t need tickets to enjoy the excitement of football season. Set up a tailgate-style party in your living room or backyard with homemade snacks, team colors, and your favorite team on TV. Kids can help prepare food, make banners, and join in on family-friendly games like cornhole or a mini football toss.

4. Try Spooky Science Experiments

Get into the Halloween spirit with simple at-home science experiments. Create a bubbling “witch’s brew” with baking soda and vinegar, or make ghostly slime with glue, contact solution, and a little food coloring. These activities are both fun and educational, sparking kids’ curiosity while keeping the spooky vibes alive.

5. Enjoy Classic Fall Favorites

Sometimes the simplest activities are the best. Carve or paint pumpkins together, bake a homemade apple pie, or snuggle up with hot cocoa and a fall-themed movie. These small traditions go a long way in making the season special.

Family fun doesn’t have to come with a high price tag. With a little creativity, you can make this autumn both memorable and budget friendly! For more family tips and financial resources, check out our First Scoop blog! You can also find our monthly Things to Do on a Budget in Monmouth & Ocean Counties posts, around the first day of each new month. Be sure to comment and let us know if you tried any of these fall family activities. Have a great autumn!

When to Take on Business Debt

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Running a small business means balancing growth goals with financial responsibility. When borrowing is used smartly – it can help you scale, stay agile, and keep full control of your business. Here’s when it makes sense to take on business debt, the risks to watch out for, and how First Financial may be able to help your Monmouth or Ocean County small business.

When to Consider Business Debt

  • For Growth & Expansion – Moving into a bigger space, buying more equipment, or hiring staff often requires upfront capital.
  • To Seize a Timely Opportunity – Sometimes favorable deals (bulk inventory, discounted real estate, or contracts) pop up, and having access to borrowed funds lets you act quickly.
  • To Build Business Credit – Paying off smaller loans or lines of credit on time helps improve your credit profile, setting you up for better terms in the future.
  • For Smoothing Cash Flow – For seasonal businesses or those with irregular income, a line of credit or short-term business loan may help bridge gaps for payroll or supplier payments.
  • When Rates are Low – When interest rates are favorable, debt can be a cost-efficient way to access capital. Interest is also often tax‐deductible.

Why Debt Might Be Better Than Equity

  • You Retain Ownership & Control – You won’t need to give up business shares or decision-making power.
  • Predictability of Cost – Loan payments will be fixed; equity comes with sharing profits (possibly indefinitely).
  • Tax Benefits – Interest payments are usually deductible, lowering your taxable income.
  • Strengthened Credit Profile – Successful borrowing builds business credit, making future financing easier.

Risks to Watch Out For

Borrowing also comes with responsibilities that should not be overlooked. Loan payments are fixed obligations, which can put pressure on your business if revenue dips. Taking on too much debt increases financial vulnerability, particularly during economic downturns. The terms of the loan also matter, such as interest rate, collateral requirements, and fees – which can all add costs or limit flexibility. If not managed carefully, debt can restrict strategic business choices and impact long-term stability, making it crucial to borrow with a clear purpose and repayment plan.

How First Financial Can Support Your Small Business

At First Financial, we’re here to make the borrowing process easier with flexible lending solutions. Some of our offerings include:

  • Commercial Real Estate Loans to help you expand or invest in property.
  • Commercial Vehicle and Equipment Loans to keep your operations moving.
  • Business Lines of Credit for on-demand access to working capital.
  • We also offer a VISA Business Cash Plus Credit Card for everyday spending needs, and 1% cash back on unlimited purchases.*

​​You can learn more about our business loan offerings on our website. With personalized service and competitive rates, First Financial is committed to helping your small Monmouth or Ocean County business grow smartly and sustainably.

*This APR of 18% is for purchases, balance transfers, and cash advances and will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fees. Other fees that apply: Balance Transfer and Cash Advance Fees of 3% or $10, whichever is greater; Late Payment Fee of $35, $10 Card Replacement Fee, and Returned Payment Fee of $35. A First Financial membership is required to obtain a Visa® Business Cash Plus Credit Card and is available to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan. Your First Financial Visa® Business Cash Plus Card will earn cash back based on your eligible purchase transactions. The cash back will be applied to your current credit card balance on a quarterly basis and be shown cumulatively on your billing statement. Unless you are participating in a limited time promotional offer, you will earn 1% cash back based on eligible purchases each quarter.

How to Detect and Prevent Power of Attorney Fraud

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Along with the potential benefits associated with establishing a power of attorney, come potential risks to consider. Our first article in this series discussed what a power of attorney (POA) is – a legal document that ensures your wishes (typically having to do with your assets), are carried out in a manner that you as the principal approve of. It gives a trusted person (often referred to as an agent), the legal authority to handle these wishes. Anyone you trust – such as a family member or friend, can serve in this role for you.

Even when designating someone you trust as your POA, the risk of fraud and abuse can still exist. This person may perform actions that the POA document does not authorize, manipulate you or your assets for their own personal gain, or not act in your best interest.1

There are several ways in which POA fraud and abuse can occur, so it is best to become familiar with some of them so you can recognize if it may be happening to you or someone you care about.

Financial Exploitation: In this instance, the agent may use the principal’s money for their own gain instead of the principal’s needs – often without informing the principal. They may withdraw funds from the principal’s accounts for their own use or conceal the reason for withdrawing the funds. They may justify an expenditure by saying it was for the principal’s benefit, but then use the funds for something that does not align with the principal’s needs or wishes.2

Unauthorized Gifting: This occurrence happens when the agent authorizes gifts to themselves or other family members without the authority to do so, without the principal’s knowledge, or without considering if it is in the principal’s best interest. Gifting is unauthorized if the POA does not explicitly authorize gifting, which can include recipients and the dollar amount(s) that may be gifted.3 If gifting is authorized – the agent should consider the principal’s entire financial situation, upcoming financial obligations, and if it is consistent with their personal character. 3

Neglect of Duties: Neglect occurs when the agent does not provide care as required by the POA – such as meeting medical needs or providing adequate living conditions. 2 This can also take the form of neglecting financial responsibilities, such as not paying bills.

What are common red flags of POA fraud?

  • Bills are unpaid, even though there should be sufficient funds to pay them. This can suggest that the agent is using the funds for unauthorized purposes or neglecting to manage the principal’s financial obligations.
  • Sudden, unexplained changes to legal documents. Especially if the changes benefit the agent, or if the principal is unaware of or didn’t consent to the changes.2
  • Information is being withheld from the principal and principal’s loved ones. The agent may avoid answering questions or giving information about the principal’s financial situation, including their bank accounts or investments.4
  • The principal becomes isolated from loved ones. The agent may isolate the principal from those who care about them so that it is harder to detect if something is not right. Isolating the principal also allows the agent to exercise more control, without the potential for others to intervene. 2

How can you protect yourself from POA fraud and abuse?

  • Choose your agent wisely. Choosing an agent that you trust, and whose values align with your own, to ensure they are capable of following your wishes and putting your needs first.2
  • Specify the scope of the POA. Clearly defining tasks, responsibilities, and decisions to be made on your behalf can minimize the potential for abuse.2 This aligns the power that is legally granted with your intentions, and only gives the agent the authority needed to carry out your wishes.
  • Clearly communicate with your agent. Continually check in with your agent to confirm your wishes and preferences. Promptly make any changes you desire to the POA so that the agent remains aligned with your wishes.
  • Inform trusted individuals about your POA. By informing trusted individuals such as family, friends, and business partners about your POA – they can be on the lookout for any red flags that signal fraud or abuse.
  • If possible, remain involved in decision-making. Review the agent’s activity, such as any financial transactions they are conducting or any medical decisions they are making on your behalf. This encourages transparency between you and the agent and keeps you involved in your affairs, to the degree you wish to be. 2

To report POA fraud, contact Adult Protective Services (APS) in your state or to the National Center on Elder Abuse (NCEA). Any identity theft incidents related to fraud should be reported to the principal’s financial institution, the local police, and to the Federal Trade Commission at identitytheft.gov.

If you are thinking about your financial future and retirement, as well as estate planning – the First Financial Investment & Retirement Center will be hosting an exclusive no-cost virtual seminar on the Transitions to Retirement with a Focus on Estate Planning, on Wednesday, October 8th at 6pm.

(697533-1 and 622155)

You can also register for this session by contacting Maureen McGreevy, LPL Financial Advisor at 732.312.1534 or emailing maureen.mcgreevy@lplfinancial.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. For individual estate planning advice, consult with an estate attorney.

  1. John Lewandowski of Heban Murphree Lewandowski Law, March 12, 2022
    1. What Is Considered Power of Attorney Abuse? | HML Law
  2. Edward Gates for American Judicial System, October 10, 2023
    1. How Do You Prove Power Of Attorney Abuse: Steps and Strategies for Justice
  3. National Research Legal Group, Inc., June 19, 2019
    1. ESTATES: Gifts Under a Power of Attorney
  4. Mark R. Manceri, P.A., June 9, 2023
    1. 6 Warning Signs That Power Of Attorney May Be Abused

Set for Life: Tasks to Help Determine Life Insurance Needs

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For many people, life insurance is a key component of a comprehensive financial plan. Determining how much you need is a crucial step in ensuring financial security for your loved ones in the event of your passing. While there’s no one-size-fits-all answer and since September is Life Insurance Awareness Month, completing these planning tasks can help you figure out the right amount of coverage for your needs.

Assess your financial obligations. Determining your life insurance needs starts with evaluating your current financial obligations. Consider your outstanding debts, such as mortgage payments, car loans, credit card balances, and student loans. Additionally, factor in future financial needs like college tuition for your children.

Calculate income replacement. Determine how much income your family would need to maintain their standard of living if you were no longer around. A good rule of thumb is to multiply your annual income by the number of years your dependents would require financial support. Individual circumstances will vary, depending on the current age(s) of your dependents. If you’re just starting a family, for example, you might want to consider 20‒25 years multiplied by your annual income.

Consider your spouse or partner’s income. If your spouse or partner contributes to your household income, consider how their income would change in your absence. For example, they may need to reduce their working hours to take care of children or other family matters during this transition period. Life insurance can help replace their lost income or provide financial assistance for childcare if needed.

Evaluate existing assets and savings. Take stock of any existing assets and savings that could be used to cover expenses in your absence. This includes savings accounts, investment portfolios, retirement accounts and any other liquid assets. Subtract these from your financial obligations to determine the additional coverage needed.

Account for inflation in future expenses. As the past few years have shown, the cost of living will increase over time due to inflation. Make sure to factor it in when you project future expenses such as college tuition, healthcare costs and other living expenses when calculating your life insurance needs.

Consider special circumstances. If you have dependents with special needs or unique circumstances, such as a disabled child or elderly parent, you may require additional coverage to ensure their ongoing care and support.

Review regularly. Life insurance needs can change over time because of factors like marriage, childbirth, career advancements or changes in financial obligations. Regularly review your coverage to ensure it aligns with your current circumstances and adjust as needed.

Questions about this topic? Contact First Financial’s Investment & Retirement Center by calling 732.312.1534. You can also email mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

This information is not intended as authoritative guidance or tax or legal advice. You should consult with your attorney or tax advisor for guidance on your specific situation.
LPL Financial and its advisors are only offering educational services and cannot offer participants investment advice specific to their particular needs. If you are seeking investment advice specific to your needs, such advisory services must be obtained on your own separate from this educational material.

Kmotion, Inc., 12336 SE Scherrer Street, Happy Valley, OR 97086; www.kmotion.com

©2024 Kmotion, Inc. This newsletter is a publication of Kmotion, Inc., whose role is solely that of publisher. The articles and opinions in this newsletter are those of Kmotion. The articles and opinions are for general information only and are not intended to provide specific advice or recommendations for any individual. Nothing in this publication shall be construed as providing investment counseling or directing employees to participate in any investment program in any way. Please consult your financial advisor or other appropriate professional for further assistance with regard to your individual situation.

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How to Conduct a Financial Check-up

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A financial check-up is like an annual physical in that it can help you catch problems early, adjust to life changes, and set yourself up for a healthier future. Whether you live with family, a partner, or roommates – reviewing your money together builds trust and alignment.

1. Review Your Starting Point

Gather bank, credit card, and investment statements to see where your money is going. Compare income to expenses and calculate your net worth (assets minus debt). This gives you a clear snapshot of where things stand. The financial calculators on our website can help with this step.

2. Revisit Your Goals

Life changes – new jobs, moving in with someone, or welcoming kids – can shift financial priorities. Take time to review whether your goals, like paying down debt or saving for travel – still make sense to your household and adjust accordingly.

3. Tune-up the Budget

Budgets aren’t “set and forget.” Use your check-up to identify overspending, cut unnecessary subscriptions, and redirect money toward savings goals and retirement. We also have a fillable PDF budgeting worksheet on our website, which you can use to help you complete your financial check-up.

4. Check Your Safety Nets

Make sure you have an emergency fund (ideally 3–6 months of expenses) and review your insurance coverage. If you’re carrying debt, consider repayment strategies or refinancing.

Getting Kids Involved Early

Financial check-ups are a chance to teach children valuable habits. Even young kids can:

  • Sit in on simple discussions about saving and spending.
  • Help with small tasks, and set savings goals for toys or items they would like to purchase in the future.
  • Learn through practice, such as managing an allowance with jars labeled “spend,” “save,” and “give.”
  • Receive positive reinforcement when they make good choices.

At First Financial, we believe financial check-ups are an important step toward building confidence and stability at every stage of life. Whether you’re reviewing goals with your partner, teaching your kids the basics of saving, or planning for the future – our team and resources are here to help. For more tips, guidance, and tools to support your financial journey, make an appointment at your local branch or check out our First Scoop Blog.