Lending Products
Identity Theft Benefit - Account Fees and Services
Identity theft is a
billion dollar business for thieves and a billion dollar loss for the rest of
us. As a result, recent regulation
enacted by the Fair and Accurate Credit Transactions Act (FACTA) requires that
we put in place additional measures to safeguard your account and our financial
institution.
A security fee of $1.95
per month is included on this account to offset these security measures to
fight identity theft and fraud. At the
same time, professional identity theft recovery services are included as a
benefit of all eligible primary share accounts.
As
we undertake these additional security measures to safeguard our organization,
we also want to add additional value to our relationship with our
accountholders. Therefore we have
arranged for these benefits to extend to all types of identity theft that you
may experience . covering both financial and non-financial fraud. In addition, these benefits are extended to
all named accountholders and 3 generations of your family . including your
spouse, children and parents. (See
complete terms below)
Fully-Managed Identity
Recovery - How It Works
If you or your family member
suspects identity theft, or personal information becomes compromised as a
result of a lost purse or wallet, a break-in, lost laptop or notification of a
data breach, we can help. Simply contact Community 1 Federal Credit Union, and
a representative will verify your information, and securely submit your case to
a Personal Recovery Advocate, who will contact you directly.
This trained and certified
identity restoration professional will place fraud alerts at the three major
credit bureaus for you; help you access services to watch for signs of identity
theft; and access your credit reports and conduct a threat assessment to
determine if any identity theft has occurred.
If you are victimized by
identity theft, your Advocate will work on your behalf to restore your
identity. Your Advocate will:
1. Place fraud alerts at the three major credit
bureaus for you.
2. Provide you with access to credit reports
from all three bureaus and review the reports with you to identify fraudulent
activity.
3. Assist you in completing an Identity Theft
Affidavit and Declaration of Fraud to establish your rights as a victim.
4. Activate credit monitoring during your
recovery to help you watch for additional signs of abuse.
5. Contact the Social Security Administration,
U.S. Postal Service, Department of Motor Vehicles, etc. as applicable, to
address any misuse of official documentation of your identity.
6. Research and document all fraudulent
transactions and false accounts or contracts signed with creditors, banks,
utility companies, leasing agents, medical facilities, etc.
7. Follow up to make sure all wrongful activity
is reversed and removed from your records.
8. Work with local and federal law enforcement
to try to stop the criminal or criminals who are using your identity.
9. Activate other members of the recovery team
to assist when necessary, including professional investigators and legal
advisors.
10.
Provide 12 months of follow-up after your recovery is complete . to be sure you
stay recovered!
Terms of Services
1. Services
will be extended to accountholders at the discretion of Community 1 Federal
Credit Union and may be cancelled upon 30 days notice to the
accountholder.
2. Services
extend to all named accountholders, their spouse or domestic partner,
dependants up to age 25 with the same permanent residence address as the
accountholder, including students and military, and parents of the
accountholder living at the same address as the accountholder, or living in
hospice, assisted living, nursing home or deceased for 12 months or less.
3. Eligibility
for recovery services is based on ID theft events that are discovered and
reported to Community 1 Federal Credit Union on or after the effective date of
the group program.
4. Identity Theft is defined as fraud that involves the use
of a consumer.s name, address, social security number, bank or credit/debit
card account number, or other identifying information without the knowledge of
the consumer, and such information is used to commit fraud or other crimes.
5. Recovery
Services may be refused or terminated if it is deemed that the accountholder or
eligible family member is committing fraud or other illegal acts, making untrue
statements, or failing to perform his/her portion of the recovery plan.
Services will not be refused or terminated due to the complexity of a
case.
6. Community
1 Federal Credit Union and/or its service provider of the identity theft
services cannot be held responsible for failure to provide or for delay in
providing services when such failure or delay is caused by conditions beyond
its control.
7. This
service does not provide credit counseling or repair to credit which
legitimately belongs to the accountholder or eligible family member.
8. Services
are only available to residents of the
9. Services
are provided by Merchants Information Solutions, Inc., www.merchantsinfo.com or an alternate
Services Provider selected at the sole discretion of Community 1 Federal Credit
Union.
