CuAlerts and Fraud Prevention

At Impact CU, we believe in keeping our members educated to the ongoing security issues and scams that could potentially harm our members. Below you will find detailed information about security issues that credit unions are currently facing. We encourage you to use this information to learn how to better protect yourself from scams. If you'd like to be notified of alerts, please sign up for CuAlerts through home banking or stop into your nearest location.

If you're ever concerned about something suspicious happening on your account, something you received in the mail or a phone call, don't hesitate to Contact Us, we're here to help.

Urgent Alerts or Current Threats:

September 15th, 2017 - Equifax Data Breach

Equifax Cyber Attack - What You Need to Know

Another day, another breach – the Equifax Cyber Attack. But wait, this is no ordinary breach that can be fixed by issuing a new card and blocking the card that was compromised. This was credit bureau data including consumer social security numbers, addresses, accounts, birth dates, and maybe driver’s license information, etc. Are you one of the 143M consumers who may be affected by the cyber attack?

Don’t think you have an Equifax file? Think back to any time you have answered an “out of wallet” question online to self-identify yourself. All those questions about “what street did you live on in 1985” or “what type of car did you have a loan on in 2004” are out of wallet questions that most likely came from Equifax, TransUnion or Experian.

The Equifax Cyber Security Attack has exposed data that nearly exceeds the TJX, Target and Home Depot breaches combined. You need to take action to protect accounts and learn how you can help fight fraud.

What can you do to protect your information?

• Make sure your financial institutions have up-to-date contact information so you can be contacted in the event of suspicious account activity – cell phone, email and home phone.
• Absolutely open and review your monthly statements and notify us immediately if you identify fraudulent transactions.
• Beware of phishing emails.
• Consider these five steps if you are worried now including possibly freezing credit files.

Five Steps you can take:

1. Check your free credit reports

Under federal law you are allowed to request a free copy of your credit report once a year from each of the three credit reporting agencies: Equifax, Experian, and TransUnion. You can request a copy of your credit report online at www.annualcreditreport.com.

It will tell you if anyone has requested a check on your credit. This happens, for example, if someone tries to open a new credit card or apply for a loan in your name. But it could take time to show up on your report, so you won't necessarily see any changes right away.

And the report itself won't tell you if there's been money stolen from a bank account or suspicious activity on your credit card. Sometimes there's theft that never makes it to the credit report.

2. Put a fraud alert on your credit

You can put a fraud alert on your credit reports for free by contacting one of the credit agencies, which is required to notify the other two. This means you'll be contacted if someone tries to apply for credit in your name. It will last for 90 days and can be renewed.

3. Keep an eye on bank accounts and credit card statements

Go through all your bank, retirement, and brokerage accounts, as well as your credit card statements to look for any suspicious activity. In most cases, theft happens over time. It usually starts small and money is stolen from across your accounts. So, get in the habit of carefully checking your statements on a regular basis.

4. Sign up for a credit monitoring or identity theft protection service

Monitoring services usually alert you when a company checks your credit history, a new loan or credit card is opened in your name, a creditor says a payment is late, or if public records show you've filed for bankruptcy, according to the FTC. But keep in mind, most credit monitoring services only track your credit reports. They still won't alert you to suspicious activity on your credit card or in your bank accounts.

Some monitoring services include identity theft protection, which will alert you when your personal information is being used in ways that doesn't show up on your credit report. It could monitor things like utility and cable bills, payday loan applications, and social media.

These services won't prevent fraud from happening. But some do offer identity recovery services to help you regain control of your finances after identity theft occurs. The government offers a free resource for recovering from identity theft at www.IdentityTheft.gov.

While there is usually a cost involved with a credit monitoring service or identity theft protection, Equifax is offering a free year of credit monitoring through its TrustedID Premier business, regardless of whether you've been affected by the hack.

This will track your credit report from Equifax, as well as your reports from the two other reporting agencies, and alert you to certain changes. TrustedID Premier will also provide free copies of those reports and the ability to lock your Equifax credit report so companies cannot see it. It includes identity theft insurance and it will scan the Internet for use of your Social Security number, too.

5. If you're really worried, put a freeze on your credit

This is an extreme step and might not be necessary, especially if you don't know for sure that your information was compromised, or what personal information was stolen.

A freeze blocks anyone from accessing your credit reports without your permission. But it can be an inconvenience for you, too. If you want to take out a loan or open a new credit card, you'll have to contact the reporting agency to temporarily lift the freeze. It's also not free. Fees to freeze your account vary by state, but commonly range from $5 to $10.