Golden 1 Credit Union reported that approximately 67,000 members were affected by the massive Target Corp. card data breach. The credit union will replace all of their debit and credit cards.
"Golden 1 is proactively replacing all potentially impacted cards," says Donna Bland, president and CEO of the $8.2 billion credit union. "The safety and security of our members' accounts is a top priority for us. It's important for our members to know they can rely on Golden 1 to protect their accounts."
The 67,000 Golden 1 members are being notified via email and letters this week. These members can continue using their existing cards until the replacement ones are delivered and activated, according to the credit union.
Scott Ingram, a spokesman for the Sacramento credit union, says Golden 1 will spend between $300,000 to $350,000 to replace the 67,000 cards. The cost includes production and mailing expenses.
So far, member response to the move has been "very positive," according to Ingram. "Members appreciate the proactive decision and the fact that Golden 1 is looking out for them," he says.
Members calling Golden 1 on Dec. 26 were greeted with a recorded statement noting that if they were calling about the "payment card compromise at Target," the credit union has identified affected cards and is "in the process of contacting impacted members and replacing their cards."
Golden 1's website now features a special link for members to get more information about the Target security breach.
Members will not be liable for fraudulent transactions on their accounts, according to Golden 1. In addition, the credit union says that no change has been made to members' daily purchase and cash withdrawal limits.
Golden 1 is the seventh largest credit union in the United States with 82 branches, more than 650,000 members and 1,370 employees.