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Equifax Data Breach: A Message to MICU Members

September 12, 2017 12:08 PM
 
Tom Stewart
Tom Stewart
© 

By now you’ve heard about the Equifax data breach that was discovered on July 29, 2017 and made public on September 7.

If you’re following the news about this topic, you’ve likely heard some conflicting advice, some concerns about the behavior of Equifax executives between the time they discovered the breach and the time they made it public, and lots of warnings about what you should or should not do to protect yourself and your personally identifiable information (PII) in the wake of this regrettable and still developing incident.

Since this is a developing situation, we’re issuing this statement to bring you up to date on what we know right now, and to share the guidance we’ve received from the Illinois Credit Union League (ICUL) and other industry experts.

The ICUL issued this statement yesterday, offering some practical tips for individuals whose information may be compromised, including a link to Identitytheft.gov/databreach to learn more about protecting yourself after a data breach from the Federal Trade Commission (FTC). Once there, scroll down to the information specific to the Equifax breach to learn about more action steps you can take to protect yourself.

With regard to the integrity and usefulness of the equifaxsecurity2017.com checker, as well as comments on the alleged insider trading that may have taken place at Equifax, cybersecurity expert Brian Krebs offers a lengthy but informative analysis of the situation in his blog posts from September 8 and a follow up post from September 11.

Please be assured that here at MICU, we take every available precaution to safeguard our members’ personally identifiable information. Clearly, we can’t control the security of the entire internet or every vendor that every member may choose to interact with, but we can offer IDProtect service, which is available when you open or upgrade to a MICU Secure Checking account.

IDProtect offers 24/7 total identity monitoring of your PII from over 1000 databases nationwide and, when you’ve properly registered your information, even offers a dedicated fraud specialist and up to $10,000 reimbursements to help you set things right in case your identity is ever compromised. Available only as a benefit with a MICU Secure Checking account, the identity protection feature is more comprehensive than Lifelock and more affordable, too and offers a number of other money-saving benefits. Learn more here.

We will continue to keep our members up to date on the Equifax situation as more information becomes available. As always, we realize you have a choice in financial institutions. Thanks for choosing Mid-Illini Credit Union. We appreciate your trust.

Sincerely,

Tom Stewart
President
Mid-Illini Credit Union

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