Credit union gets hit with fraud
The MEMBERS1st Community Credit Union has had a flurry of activity since Monday.
That day, it was discovered multiple fraudulent transactions were made on some members’ debit cards which originated in Brazil.
The credit union blocked all transactions coming from Brazil in an effort to protect members.
In a statement released by MEMBERS1st on Wednesday, “Our ongoing forensic investigation suggests that no member information was compromised at any point during this event and member information remains secure. This event was an isolated incident and members are likely not at risk for additional fraud stemming from this issue. More information will become available in the next few days but we believe the fraud event has been stopped and contained.”
How many members have been affected is not yet known but the ones that were have had their account balances returned. Any members affected by this incident will get a full refund of their money and the credit union will resolve fees or charges that are incurred.
If anyone suspects fraud in a MEMBERS1st account,the following steps have been provided:
• Call the fraud department at 800-600-5249. Press 1 and then option 3.
• If another layer of security is desired, tools have been made available. The debit cards can be turned off temporarily and purchase alerts can be created with the mobile banking app. When the app is open, click on the hamburger menu and then “Manage My Cards.” Afterward, click on “Temporarily lock this card.” If the owner of the card wishes to make purchases after the card is locked, the steps can be completed above to turn it on and then turn it back off.
• Call 800-245-6199 with any additional questions or concerns. There is a large volume of calls so there may be a wait time.
“We understand our members’ frustration and greatly apologize for any inconvenience this fraud event has caused,” the statement read. “As part of our commitment to our member-owners, we will be as transparent as possible with our findings and future updates. More information will be provided soon.”
MEMBERS1st Community Credit Union has two locations in Marshalltown — one on Center Street and another on Twelfth Avenue.