How Some Americans Can Claim a One-time Payment of $5,150

Who can claim a one-time payment?

Last month, a Top Class Actions (TCA) report noted that the New Mexico-based FFCU has agreed to a $1.6 million settlement. The settlement is in response to the accusation that the union failed to prevent the data breach that compromised member data.

Although the union hasn’t admitted to any wrongdoing, it has agreed to a settlement following a class action lawsuit. According to the class action lawsuit, the union’s alleged negligence allowed hackers to access the members’ sensitive information.

“Unauthorized individuals gained access to FFCU’s network systems that contained the personally identifiable information (“PII”) of FFCU’s current and former members (the “Data Incident”),” the FFCU said about the data breach.

The settlement is open only to current and former FFCU members who were notified that their data may have been affected due to the data breach. Moreover, only members affected by the data breach between Jan. 17, 2022, and Feb. 6, 2022, are eligible to claim a one-time payment.

If you aren’t sure whether or not you qualify for the settlement, you can email your query to info@FFCUSettlement.com, or mail it to: FFCU Data Incident Claims Administrator, P.O. Box 2258, Portland, OR 97208-2258.

How much to claim and how

Claimants can claim up to $150 fordinary data breach expenses, including bank fees, credit costs, and other similar expenses. Also, eligible individuals can claim compensation of up to four and a half hours of lost time at a rate of $25 per hour. Claimants who experienced extraordinary losses because of the data breach can claim up to $5,000.

In addition to monetary benefits, claimants may receive free credit monitoring and insurance services, including three-bureau credit monitoring, access to fraud resolution agents and up to $1 million in identity theft insurance.

Settlement class members who do not want credit monitoring benefits or reimbursement can choose to receive a one-time cash payment. This one-time payment, however, will depend on the number of claims filed and the settlement amount remaining after paying the reimbursements. 

Claimants can claim the compensation either online or submit the claim by mail, according to the FFCU’s claim page. Claimants will have to provide proper documentation to support their claim. The last date to file the claim is May 2, 2024, and claims submitted after the deadline will be considered “untimely and may not be accepted.”

If the settlement is approved, eligible claimants will get the money through a check. The final settlement hearing is scheduled for April 25, 2024. Visit the FFCU’s claim page to get more information on the claim process, eligibility and more.