Compass Financial Federal Credit Union - Recovery for Owners/Officers

Fully Managed Identity Theft Recovery Services for Company Officers and Owners

If you suspect that you have been a victim of identity theft:

Call Compass Financial FCU at 888-367-8656.

Hours of Operation:

Monday, Tuesday, Thursday, & Friday, 9:00 AM - 5:00 PM ET

Wednesday 10:00 AM - 5:00 PM ET

Tell the representative the name of your business and that you need to be connected with a Recovery Advocate.

Summary of Benefits

Who is eligible: Fully Managed Identity Theft Recovery Services are available for Business Members’ Owners and Officers at any time regardless of whether or not the Business Member has had a Data Breach incident.

If you or any of your business’s owners or officers become a victim or suspect identity theft for any reason, we are here to help. Professional, dedicated Recovery Advocates are standing by and will manage the identity theft incident and resolve suspected or confirmed fraud until completion, with no time limit.

Counseling

Certified Recovery Advocates will review the case with the consumer and make suggestions for stopping the damage and provide next steps to protect the consumer’s identity, including instructions for placement of fraud alerts at the three major credit bureaus.

Research

At the time of suspected or confirmed fraud the Recovery Advocate may review credit data from the consumer’s credit report to identify fraudulent activity.

Remediation

A professional and certified Recovery Advocate is assigned to the consumer’s case. The Recovery Advocate will perform the following tasks, as appropriate for each case:

Investigate and, when appropriate, confirm fraudulent activity including known, unknown, and potentially complicated additional sources of identity theft.
Securely deliver fraud recovery documents, including a Limited Power of Attorney form and official identity theft affidavit form, in addition to return instructions.
Assist the victim in completing the official identity theft affidavit from the Federal Trade Commission to establish their rights as a victim.
Contact the Social Security Administration, U.S. Postal Service, and other governmental organizations, among others, to reverse any wrongful information, transactions, or misuse of official documentation as applicable to the case.
Research and document any fraudulent activity which may include false accounts, or contracts signed with creditors, banks, utility companies, leasing agents, medical facilities, etc., and follow up to have the wrongful activity removed from the victim’s records.
Provide case status updates.
Create and then maintain a case file to assist law enforcement in the prosecution of the perpetrators.
Provide peace of mind and resolution of key issues from start to finish as swiftly as possible.

The Recovery Advocate will address all types of Identity Theft, including but not limited to credit fraud, check fraud, medical fraud, employment fraud, government benefits fraud, true name Identity Theft, etc.

Recovery

The Recovery Advocate will attempt to have records expunged that were created by fraudulent activity in order to return the records to their true state prior to the fraud.

Frequently Asked Questions

What is Fully Managed Identity Theft Recovery?

If any of your company’s owners or officers suspect identity theft for any reason, a professional Recovery Advocate will manage your recovery process to help restore your name and credit to pre-event status. The Recovery Advocate assigned to your case will handle the phone calls, paperwork and the follow-up for you through a Limited Power of Attorney authorization.

What is an identity theft incident?

An identity theft incident occurs when an unauthorized person uses your personal information to commit fraud. Your personal information includes your name in combination with your Social Security number, account numbers, date of birth, address, email address, and state or federal issued ID such as driver's license or passport. Types of identity theft may include account fraud, credit/debit card fraud, tax fraud, employment fraud, government documents and benefits fraud, medical fraud, and more.

Who is eligible for Fully Managed Identity Recovery Services?

Fully Managed Identity Theft Recovery extends to owners and officers of your company.

How do I know if I have been a victim of identity theft?

If you see unfamiliar transactions on your credit card or bank account, you receive statements in the mail from a creditor you don't recognize, or you find notations on your credit file for debts you did not incur, you may be a victim of identity theft. If you suspect that someone might be using your identity information it's always wise to check it out. If it's a false alarm it will give you peace of mind knowing that your identity is secure. As an officer or owner officer or owner of the business, you can take advantage of our team of Recovery Advocates standing by to help.

Do I need to confirm identity theft to access the Recovery Services?

No. If you suspect fraud or think your information has been compromised, or if you are not sure if you are a victim or not, a Recovery Advocate will research to find and remediate the identity theft. If identity theft has not occurred but the Recovery Advocate believes that you may be at risk, the Recovery Advocate can take preventative actions, such as assisting you with the placement of fraud alerts on your credit files.

How do I request assistance if I think I am a victim of identity fraud?

If you suspect identity fraud, you do not have to confirm that there was actual fraud, even a suspicion of fraud may be reported and investigated. All types of identity fraud are covered – financial fraud, phone and utility fraud, employment fraud, government documents and benefits fraud, medical fraud, and all others. To report a fraud incident, simply call your Program Sponsor and they will submit your case to a Recovery Advocate. The Advocates are Fair Credit Reporting Act (FCRA)-certified and hold the designation of Certified Identity Theft Risk Management Specialist.

How does the Recovery Process work?

The Recovery Advocate will create a customized recovery plan and will do the work for you! Working by virtue of a Limited Power of Attorney authorization (when needed), the Recovery Advocate will contact and remediate the fraud with government agencies, retailers, credit agencies, financial institutions, and more.

What makes these Recovery Services different from other programs?

Other programs offer “assisted” recovery services which provide instructions for victims to handle the recovery process on their own. With this service, you do not have to spend the time or money to do the work. A professional, certified Recovery Advocate will work on your behalf to perform the recovery tasks and restore your identity. The goal is always to return your identity to pre-event status.

What types of identity theft do the Recovery Services cover?

The Recovery Services cover all types of identity theft recognized by the Federal Trade Commission. These include fraud related to financial accounts, phone and utility fraud, government documents and benefits fraud, employment fraud, medical fraud, internet fraud, and all other types of identity-related fraud.

Do the Recovery Services provide reimbursement for losses?

No – The Recovery Services do not reimburse you for actual losses incurred. Often these are recoverable from the institution or agency that received funds, or disbursed funds, due to a fraudulent transaction.

How long does the Recovery Process take?

There is no way to accurately estimate the length of recovery because each individual identity theft case is different. Depending on the nature of the problem, the complete resolution may take from a few days or weeks to months or longer.

Is there a time limit for the Recovery Process?

No — the Recovery Advocate will continue to work on your behalf with no time limit. Once the identity is restored, the Recovery Advocate will follow up to ensure that no further problems have surfaced.

When should I take advantage of Recovery Services?

Whenever identity theft is suspected for any reason. If there is actual evidence of identity theft or if your personal information has been compromised (e.g., lost wallet, data breach, phishing scam), a Recovery Advocate can assess the situation, take preventative steps, and create an action plan.

What if my identity has been compromised because I lost my purse or my wallet or an important document was stolen?

If an important document is lost or stolen, you can receive help from a Recovery Advocate who will assist you in replacing the missing document. The Recovery Advocates know who needs to be contacted, if/which government agencies should be notified, and what information is needed to replace the documents. You can make one call to a Recovery Advocate as opposed to several separate calls for each lost document.

Even when the Recovery Advocate cannot literally replace the document for you (such as a driver’s license or passport), they will be able to provide guidance to you – where you need to go, and what you need to bring, to replace the lost document.

What if I just lose my wallet or debit card?

Even though the items may simply be lost and not necessarily in the wrong hands, you may call or visit your local branch office for assistance. A representative can transfer the call to a Recovery Advocate or provide you with the toll-free number to call at your convenience. The Recovery Advocates know the steps to take to help mitigate or possibly prevent identity theft in these circumstances.

Note: Identity theft incidents that were first discovered prior to the effective date of the group services program are not eligible for services.

RECOVERY ADVOCATES

What does the Recovery Advocate do?

The Recovery Advocate works one-on-one with you to assess the situation and develop an identity recovery plan. Working under a Limited Power of Attorney, the Recovery Advocate works on your behalf to remediate the fraud by contacting creditors, government agencies, financial institutions, and more. Once recovery is complete, the Recovery Advocate follows up and if any new issues arise a new case is opened.

Why would a signed Limited Power of Attorney be requested of me?

The Limited Power of Attorney authorizes the Recovery Advocate to work on your behalf to accomplish all tasks involved in restoring your identity to pre-event status. Law enforcement, credit bureaus, and most creditors will not even speak with a Recovery Advocate unless an LPOA is in place, due to security and confidentiality issues. The LPOA authorizes the Recovery Advocate only to perform tasks necessary to remediate the identity theft incident. You are not required to execute the LPOA, but without the LPOA in place, the Recovery Advocate won’t be able to perform recovery tasks for you. In such a case, the Recovery Advocate will assist you to the best of his/her ability, but you may need to perform some of the tasks such as contacting agencies or creditors, writing letters, and making phone calls.

What are the qualifications of the Recovery Advocates?

The Recovery Advocates are FCRA and CITRMS certified. These credentials enable the Recovery Advocates to research identity theft professionally, giving them access to data that other programs’ recovery assistance cannot provide. Our Recovery Advocates are also able to gather and document evidence in a case file used to help law enforcement capture and prosecute the perpetrators.