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Recent Target Card Data Breach
St. Thomas Credit Union 12/24/2013
As most people know already through the many different news reports being published, the large retailer Target announced on Wednesday, December 17th, that it had suffered a data breach that compromised 40 million credit and debit cards used at its U.S. stores between Nov. 27 and Dec. 15. The data that has been reported as compromised includes name, card number, expiration date, and CVV2 (the security number on the back of card). The thieves already have started to flood the market with this stolen card information causing a large spike in potential for fraud. The fraud that has already been reported has been limited to Point-of-Sale transactions, many of which were signature based or no PIN required. There has been no reported ATM fraud so far.
The credit union is taking a few steps to safeguard our members who were exposed during the breach. We have decided, in the best interest of our membership and the credit union, to reissue new cards to each of the individuals that were affected by this breach. We received a list from VISA of the possible individuals whose personal information may have had exposure. We are working to reissue these cards in the most time effective manner as possible to limit inconvenience for our members. As we get an update to estimated delivery date for these card we will post that information here for your reference.
The people that were affected will be receiving a letter in the next few days outlining the next steps they need to take and what we are doing to help protect them. Until the exposed members receive their new cards, their current cards will be left active, but with limited access. This will ensure that if there is any attempt at fraud on these cards, the damage done will be lowered significantly. If you have any questions or concerns regarding this matter please feel free to call us at (615) 292-7828.
We ask that ALL members remain vigilant and check their statements for accuracy on a daily basis. This would be a great time to sign up for online banking or STAT Line (our automated phone system) to monitor your account. Both of these options are free services available to our members. If you find anything that is not your charge, or seems to be unfamiliar, contact us immediately so we can block that card until the transaction has been identified as legitimate or fraudulent. We also ask that you be very cautious when giving any personal information out. We are expecting that phishing fraud will accelerate with this information floating around. Do NOT respond to any e-mail, text message or phone calls asking for personal information, card information, account number or PIN. If you receive a phone call that claims to be from St. Thomas Credit Union, please tell them you will call them back to verify they are who they say they are before you give them any information. Again, our main office number is (615) 292-7828. Though it may not be necessary, you may consider thinking about alerting the credit bureaus to place a fraud alert on your information to prevent identity fraud.
Again, we apologize for any inconvenience this may cause for our members, but these proactive steps we feel will help prevent any loss of funds or identity to our members.
*Update on New Card Re-orders: Cards should be arriving this week, the week of January 13-17. Make sure to keep an eye out for your new card. It will have a PIN mailer seperate from the card mailer. The PIN will probably arrive within a day or two of the card. If you would like to change the PIN to the one you had on your old card or a new PIN all together, stop by the branch and we would be happy to take care of that for you.
Note to Target Red Card Holders:
Please make sure to be monitoring your account transaction history daily. Though the Red Card's actual card numbers can be blocked, if the account information that was connected to that card has been compromised you may have an increased exposure to ACH fraud. This type of fraud is a lot harder to combat and limit the amount of money stolen. We ask that you notify us immediately if you find any transaction that may not be yours. The sooner you catch this type of fraud, the easier it is to stop the fraud from continuing to occur. If you have any questions please contact us at (615) 292-7828.
PIN Numbers Now Part of Breach:
It was announced late last week that the PIN numbers for the cards have been included as part of the breached data. It is reported that these numbers are in an encrypted file and the information is said to be safe, but given that the hackers where able to get the information in the first place, decrypting this information is probably a menial task for them. We want to prevent as much fraud as possible, so effective January 2, 2014 all cards that were part of the breach will have their ATM limits dropped to $100. If you come into the branch and change your PIN number we will raise this limit back to the original $500 limit. If you have any questions, please feel free to contact us. 12/31/13
Free Credit Monitoring Service offered by Target for those affected
Target has released information on the free credit monitoring program they are offering. We have already had a few members unsure about giving more information to Target following this large data breach, but do note that the only information you have to provide on Target's site is name and email address. You will then receive an email from Experian with instructions on how to enroll. We encourage all members that were part of the breach to take advantage of this offer. It is expected that application fraud and identity theft will increase due to all the information leaked during this breach and we would like for everyone to be as safeguarded as possible.
Follow the link below to sign up for this service:
Don't Tax My Credit Union
Please join us and the rest of the 96 million body credit union family as we fight to keep our benefits of being a credit union member. Credit Unions have been exempt from paying income tax since 1916, when the income tax was first instituted. The reason for this exemption status, as recognized by the IRS is, "Credit Unions are organized and operated for mutual purposes and without profit." In simpler terms a credit union is a nonprofit organization and any profit made is returned to the membership. Essentially this means that a tax implemented on Credit Unions is a tax directly on its members!
We need your voice to help stop this from happening! You can help prevent your credit union from being taxed by contacting your U.S. Representative and Senators which can be done through the link below. There you will find a pre-written letter that you can email to Congress, saying loud and cleaer: "Don't Tax My Credit Union!" Participating is very easy and we encourage you to spread the word to your family and friends to participate as well. The more voices we have the louder we will be heard!
We thank you for your membership and your help! If you have any questions stop in and ask us. Also look for upcoming events in the branch to participate and help grow our Credit Union Voice!
How to Participate: