$505K Floridacentral Credit Union Settlement Ends Data Breach Lawsuit Over April 2024 Cyberattack

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Floridacentral Credit Union has agreed to pay a $505,000 settlement to resolve a proposed class action lawsuit that claimed negligent cybersecurity on the credit union’s part resulted in an April 2024 data breach.

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The court-approved website for the Floridacentral data breach settlement can be found at FloridacentralCreditUnionSettlement.com.

The deal covers all United States residents whose private information was potentially accessible as a result of the data breach, including those who received notice from Floridacentral that their information was potentially accessible.

To receive Floridacentral settlement benefits, eligible class members must submit a valid claim form online or by mail by June 2, 2025.

You can file a claim form online on this page. You will need to provide your unique class member ID, which is typically found on the settlement notice issued to consumers to inform them about the deal.

Alternatively, you can download a PDF claim form to print and return by mail by the June 2 deadline.

As part of the deal, class members can submit a claim for one of two cash payment options, the Floridacentral settlement website says. For one, consumers may opt to receive reimbursement of up to $5,000 per person for unreimbursed losses that are supported by reasonable documentation, the site shares.

In lieu of a payment for documented losses, class members may file a claim for an estimated $100 cash payout, the website relays.

Floridacentral settlement cash payments are subject to adjustment on a pro rata basis as needed, the site adds.

In addition to a monetary benefit, consumers can elect to receive up to three years of one-bureau credit monitoring and identity theft protection services at no cost, the website states.

Per the settlement agreement, Floridacentral has also implemented certain measures to better secure its network and the personal information stored therein.

The court preliminarily approved the Floridacentral settlement on January 22, 2025. Next, it is up to the court to decide whether to grant final approval to the terms of the deal at a hearing on June 16, 2025. Settlement benefits will be issued to eligible class members only if the deal receives ultimate court approval, and after any appeals are resolved.

According to the Floridacentral class action lawsuit, the credit union became aware of an “internal email breach” on April 4, 2024. As a result of the incident, which may have exposed individuals’ names, email addresses and bank account numbers, consumers are at a heightened risk of fraud and identity theft, the data breach suit alleged.

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