Gentile Got it Right, ID Theft Issue Should be a Priority for Credit Unions

Editor-in-Chief Paul Gentile certainly got it right in his column, "Some Observations on this and that." in the Nov. 23 issue when he pointed out the need for credit unions to take the lead on identity theft. At NAFCU, we are taking every opportunity to educate our members on the rampant growth of identity theft, which now involves more than 10 million Americans each year and over 25 percent of all credit card fraud. NAFCU has provided free ID theft seminars around the country, including in California, Delaware and Ohio. Our regulatory compliance counsel conducted these seminars to educate credit union staff on identity theft and the ways in which they can in turn educate their membership and give them tools to prevent identity theft. NAFCU recently held an identity theft Webcast which is also on our Web site and downloadable to member credit unions. Credit unions should take advantage of online resources on this important topic. The Federal Trade Commission, at www.consumer.gov/idtheft, and the Department of Justice, at www.usdoj.gov/criminal/fraud/ idtheft, both have excellent resources. As Gentile so aptly put it, "credit unions must take the lead on identity theft."NAFCU applauds his insight and is already helping credit union members avoid these deceptive scams. Fred R. Becker, Jr. President and CEO NAFCU Arlington, Va.