Many of you have probably seen or read the news reports concerning fraud at our ATM’s. We did experience fraud the weekend of October 27th and 28th. However the facts reported in the news story were not factual. Absolutely no IH Credit Union member’s accounts were affected or compromised by the fraud. The credit union did experience a loss of around $20,000. We are fully insured to cover this loss. This type of fraud is impossible to safe guard against 100%, however since this incident we have taken additional steps toward making our ATM’s even more secure.
We were not contacted by any news outlet before they ran the story about this incident. We were not contacted to provide facts about what actually occurred. At this point, we are going to take steps to contact the news outlets that ran this story and provide them with the facts. If you have additional questions about this incident, please feel free to contact us.
ACCOUNTS INSURED UP TO $500,000
American Share Insurance insures each account up to $250,000. Excess Share Insurance Corporation provides up to an additional $250,000 of insurance per account.
MEMBERS’ ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY.