SAGINAW, Mich.–Some members of Team One Credit Union here had their account balances emptied as part of a criminal attack involving debit cards, according to police and the credit union.
In a letter to members on Team One’s website, President/CEO Derrick Barber said the credit union learned over the weekend that a “group of bad actors” had been exploiting member accounts by reproducing fraudulent debit cards to gain access to member funds.
Barber said the $750.6-million credit union responded immediately by closing all Team One CU-owned ATMs/ITMs and by contacting police.
“By working with our partners, we were able to take steps to combat additional fraud and believe we have little future exposure tied to this event,” wrote Barber. “Rest assured, our members will be reimbursed for any funds wrongfully taken from their accounts.”
Barber said the credit union worked through the weekend to respond to member inquiries, reissue debit cards and reimburse funds.
Some Left With Negative Balances
Investigators told ABC12.com they suspect thieves swiped the entire balance from some accounts and left others with negative balances as they made off with at least $90,000.
“It appears someone noticed suspects at ATMs on Saturday using debit cards and punching in multiple PIN numbers,” the report stated.
Team One has more than 50,000 members.