Voting Poll Results: CUs Providing ID Theft Info, But Not Much More

WEST PALM BEACH, Fla. – The results of Credit Union Times’ just expired voting poll on identity theft might be cause for concern. Identity theft needs no introduction. It has become one of the fastest growing fraudulent scams ever, and millions of Americans each year are falling victim to it. Some financial players are using identity theft as a PR advantage, such as Citibank which extensively markets its ID theft tools. There are also a number of ID theft solutions available, ranging from credit monitoring to insurance and remediation. Based on the poll results, most credit unions aren’t marketing tools, they’re providing ID theft information. Surprisingly, many respondents said their CUs had no plans to tackle the ID theft problem. The poll question and results are as follows: What is your CU doing to help members prevent or remedy identity theft? *Provide members with prevention tips on our Web site, newsletter, or other media..51.63% *Market a credit monitoring service to members………………………………………3.92% *Market an identity theft insurance/restoration product to members…..12.42% *Planning on doing something, but haven’t yet…………………………………….11.11% *We do nothing and have no plans to…………………………………………………..20.92% Total Votes: 153