Saturday morning, we became aware of a group of bad actors who exploited numerous Team One Member accounts by reproducing fraudulent debit cards to gain access to Member funds. We took immediate action to shut down this illicit activity, including closing all Team One owned ATM/ITMs and contacting local and state police agencies to share important information regarding this incident. By working with our partners, we were able to take steps to combat additional fraud and believe we have little future exposure tied to this event. Rest assure, our Members will be reimbursed for any funds wrongfully taken from their accounts.
Our incredible staff have been working throughout the weekend to respond to Member inquires, help shut down and reissue debit cards and reimburse funds for members impacted by this criminal activity. We apologize that we were not able to answer all incoming calls as this incident unfolded; however, our team is actively responding to all Members who left messages via voicemail, email or social media. I want to personally thank the entire team at Team One for their unwavering commitment to serve our members. Their willingness to give their time to ensure the inconvenience to Members is minimized is truly appreciated and applauded.
I want to thank the Saginaw Police Department and Michigan State Police for their assistance and attention to this matter, and let them know their efforts to maintain public safety and enforce the law do not go unnoticed.
We are committed to providing you with a secure and trusted banking experience, and we apologize for any inconvenience to our valued members. While no institution can eliminate the possibility of fraudulent activity, we commit to our Members that we will learn from incidents like this and take all necessary steps to protect your hard earned money. Thank you for being a Member of Team One Credit Union.
Sincerely,
Derrick Barber, President/CEO
Derrick Barber, President/CEO