CUNA Mutual Intro's Plan To Help ID Theft Victims

Register now

Through a partnership with Intersections, Inc., CUNA Mutual Group is offering a new solution that allows credit unions to provide their members with a means of monitoring the three credit bureaus to detect signs of identity theft.

Moreover, if ID theft is discovered, members also have available to them expert assistance in recovering from the crime, and insurance to cover expenses if ID theft is verified.

"Identity Guard is a proactive risk management solution CUNA Mutual is offering to members through their credit unions," CUNA Mutual said. "It is aimed at providing individual protection for this mushrooming consumer crime that has claimed more than 27-million U.S. victims in the last five years and cost consumers more than $5 billion in out-of-pocket losses."

Identity Guard will initially be introduced to CU members in January through a pilot involving 166 credit unions who represent 1.5 million members. Members will receive information on protection via MemberCONNECT, CUNA Mutual's direct response program. Members who elect to protect themselves through Identity Guard can enroll via phone, direct mail or the Internet.

Members three-in-one credit report, and then get quarterly scoring, analysis and information updates.

"Identity Guard also provides personal assistance through its Credit Education Specialists, who assist members in understanding their credit reports and help them react quickly if identity theft occurs," said CUNA Mutual VP Bill Jolicoeur.

If a member's identity is stolen, the program's Identity Theft Recovery Unit helps with the following:

* Contacting credit reporting agencies to place a fraud alert in the member's credit file.

* Contacting affected creditors and law enforcement agencies.

* Filing disputes with reporting agencies.

* Receiving a Fraud First Aid Kit, used to keep track of all phone contacts needed in clearing their credit.

In addition, Identity Guard provides $20,000 in insurance to help cover expenses related to the recovery.

CUJ Resources

For more information on the CUNA Mutual program: (800) 428-3932, Option 2.

For reprint and licensing requests for this article, click here.