Alerts & Announcements
As a service for our members, Maui Federal Credit Union posts alerts and announcements which may be of special interest.
October 2018 Newsletter Correction – Holiday Loan p.3
For the Holiday Loan article, we incorrectly reported the monthly principal and interest payment for a $2,000 Holiday loan at an annual percentage rate of 2.99% as approximately $69.38. The correct monthly principal and interest payment amount is approximately $169.38. We apologize for the error and have made the correction to the online October 2018 Newsletter.
Home Equity Rate Change
The semi-annual rate change for our home equity line of credit will take effect on October 1, 2018. Based on the index and margin, the annual percentage rate is now 5.00%. As a result of the rate change, your minimum payment may have changed. Please contact us at (808) 873-5050 to make arrangements to adjust your payroll deduction amount or automatic transfer amount, if applicable or if you have any questions.
Zippy’s Data Breach Update
Your Maui Federal Credit Union debit card may have been compromised if you used your debit card at Zippy’s between November 23, 2017 and March 29, 2018. Please be assured that this compromise is not specific to Maui Federal Credit Union. Other financial institutions were also impacted.
Because ensuring your security is top priority for us, we have taken proactive steps to order new debit cards for all cards affected by this compromise and have sent out a notification letter to those affected. New cards were ordered in June so everyone should have received their new cards by now. If you received our notification letter but have not received your new card, please contact us immediately at (808) 873-5050.
Maui Federal Credit Union takes our obligations to protect the security and privacy of members very seriously. If you have any questions or concerns, please don’t hesitate to give us a call. We have listed below some Frequently Asked Questions (FAQs) on compromised debit cards.
FAQs on Compromised Cards
Q: I received a letter stating that my debit card may have been compromised. What does that mean?
A: Debit card compromises occur when unauthorized individuals gain access to your payment card information. This typically means that it’s likely after using your card with a merchant, your card number, expiration date and PIN may have been manually or electronically captured for the purpose of creating a functional counterfeit payment card.
Q: Is this Maui Federal Credit Union’s fault?
A: No – debit card breaches are, unfortunately almost always totally beyond the control of the issuing financial institution. The only way to 100% eliminate the risk of a compromise is to not issue cards. Our members deserve the convenience of debit cards, so we acknowledge the potential for fraud as one of the costs of doing business. We have highly developed security and fraud detection tools in place that give us the ability to quickly respond to fraudulent activity and limit our loss exposure by blocking/closing compromised cards.
Q: How does Maui Federal Credit Union react to compromise notifications?
A: We take every compromise seriously. We require issuance of new cards for affected members. Members may receive a phone call or written notification if their card data has been compromised. Your replacement card will be ordered automatically at no charge to you.
Q: Does this mean that I have fraud on my account?
A: No. It only means that your debit card information has potentially been compromised. Your payment card may be replaced as a cautionary measure. We monitor your account 24/7 for fraud, but we also recommend that you review your account and report any suspicious or unauthorized transaction to us immediately. Online banking, mobile banking and audio response is a great way to monitor your account activity, and you won’t need to wait for a monthly statement.
Q: What do I need to do if I discover fraud on my account?
A: Call Maui Federal Credit Union immediately at (808) 873-5050. After hours, or in the case of a lost/stolen debit card, please call 1-800-472-3272.
Q: What can I do to prevent this from happening again?
A: No one can predict when their debit card will be compromised. We strongly urge our members to engage in online and mobile banking practices to increase overall awareness of the available balances in their accounts. We also have a free CardValet app to help you proactively manage your debit card and help protect yourself against fraud available for download at the Google Play Store and Apple iTunes Store. If there is ever a transaction you do not recognize, please contact us immediately and we will be glad to assist you. If you don’t take advantage of home banking, mobile banking and audio response (1-800-399-4790), be sure to protect yourself by always reviewing your monthly statement(s) as soon as they arrive.
Q: How long will it to take for me to receive a new card?
A: It usually takes seven to 10 business days to receive a new card.
Q: What if I have preauthorized debits made to my compromised debit card number?
A: You should contact the merchant(s) immediately upon receipt of your replacement card, and provide them with the new card number and expiration date.
Q: Can this information be used to steal my identity?
A: The information encoded on your debit card pertains to the card number and expiration date. Confidential information such as Social Security numbers, checking account numbers, driver’s license numbers, addresses and dates of birth are not stored on the card.