New England Federal Credit Union and CyberScout today encouraged consumers to focus on protecting against identity theft during National Consumer Protection Week (February 7-11). The two organizations urged consumers to be vigilant in protecting their personal and financial information to avoid becoming victims of this crime.
Identity theft was the nation's top consumer complaint for the fifth year in a row in 2004, according to a new report from the Federal Trade Commission (FTC). According to the FTC report, "National and State Trends in Fraud and Identity Theft," identity theft accounted for 39 percent of the consumer fraud complaints filed with the FTC last year, more than any other category.
New England Federal Credit Union (NEFCU), the largest credit union in Vermont, provides the nation's premier identity theft services for its more than 66,000 members through CyberScout. NEFCU's Identity Theft Resolution Service provides its members with identity theft victim assistance and consumer education at no cost to them.
"Protecting the privacy and security of our members is a top priority," said New England Federal Credit Union Executive VP and COO John Dwyer, "That's why we've been working actively to inform our members about identity theft since 2000. We wanted to provide the best identity theft services available to all members, at no cost to them. By making them safer and more secure against identity theft, the CyberScout program will make a major contribution to our members' peace of mind."
If any New England Federal Credit Union member should become a victim of identity theft, the CyberScout resolution service provides:
- A personal advocate who works with the victim one-on-one until the crisis is resolved
- Systematic notification of agencies, businesses, and institutions
- Comprehensive case file creation for insurance and police
- Preparation of all needed documents
- A full year of follow-up alerts, phone calls, and status checks to avoid recurrence
In addition to these free services, NEFCU also offers its members a credit monitoring service to help them prevent identity theft from ever taking place, along with up to $25,000 in potential compensation that will help to defray lost wages or legal fees involved in restoring a stolen identity.
New England Federal Credit Union members will also have access to the nation's premier consumer education program on identity theft risks and defenses. The CyberScout consumer education component provides all New England Federal Credit Union members with emailed alerts describing new scam techniques, a monthly newsletter, and a dedicated web site with articles, interviews, and white papers covering every aspect of identity theft.
"Consumer education is essential in preventing this crime," said CyberScout Chairman Adam Levin, former Director of the New Jersey Division of Consumer Affairs, "and for those who do become victims, awareness and rapid response can limit the damage significantly. By making these services available to its entire membership, New England Federal Credit Union exemplifies the leadership and consumer focus that are absolutely necessary to bring the identity theft crisis under control."
Additional information about the identity theft resolution and consumer education services is available at the New England Federal Credit Union web site, nefcu.com.
Free Seminar on Identity Theft
New England Federal Credit Union and the Office of the Attorney General of Vermont will co-sponsor a free seminar on identity theft on Thursday, February 17 at 8:00 a.m. at the Sheraton Hotel in South Burlington, Vermont. The public is invited to hear Vermont Attorney General William Sorrell and Laura Dobos, Coordinator for Consumer Assistance Programs for the Vermont Attorney General's office, sharing vital information that will help consumers avoid becoming victims of this crime.
