NY TEAM Federal Credit Union wants to protect our Members by informing you of the increasing Debit Card and Credit Card Fraud Trends we are noticing in the Penn Station Area. The Credit Union has experienced a recent spike in fraud and has concluded these transactions all had an identical factor in common, they were all done at Merchants in Penn Station. The Credit Union's Fraud Prevention Specialists want us to protect you and your account by informing you of this trend. The safety and security of your account is of the utmost importance to us. If you used your card in the Penn Station area, please review your account for any suspicious activity. If you used your card in the mentioned area with a Merchant visit one of our Credit Union Branches for a new card that can be instantly issued or ask us to mail you one!
As NY TEAM Federal Credit Union receives notifications of possible data and security breaches, we evaluate each situation to determine the best course of action to protect our members. In some cases this means that we may re-issue debit cards believed to be compromised. While we understand that this is an inconvenience, we believe it is prudent to protect our members’ accounts from future fraud.
We are always proactive in protecting you and the Credit Union from fraudulent transactions. We also use other fraud monitoring tools to approve debit card transactions. This monitoring includes analyzing patterns in your use of your debit card and recognizing transactions that may be “out of the norm” for you. If this occurs, a transaction may be declined or you may receive a phone call from our fraud prevention specialists to inquire on transactions we suspect to be fraudulent. While we make every effort to ensure our members’ experience with their debit card is convenient, these steps may be necessary to prevent unauthorized transactions from posting to your accounts.
The following are recommendations that you should consider to monitor activity on your accounts and to protect your personal information:
• Regularly check your account statements and activity through Online Banking
• If you have reason to suspect fraudulent activity on your account, contact us immediately at 516.822.1070 Option 6/Lost Stolen.
