GLENS FALLS, N.Y. — Parks Heritage Federal Credit Union has agreed to settle a class-action lawsuit stemming from a 2024 cyberattack that exposed sensitive personal information belonging to members and other consumers, with eligible individuals able to claim up to $4,500 for documented losses or opt for a $75 cash payment.
The settlement resolves litigation alleging that a targeted cyberattack between July 17 and July 27, 2024, compromised customer information, including names, Social Security numbers and financial account information. The $42-million Parks Heritage denied any wrongdoing but agreed to settle the case to avoid the expense and uncertainty of continued litigation, according to Claim Depot.
The Glens Falls-based credit union disclosed the breach to regulators in early 2025. At the time, the credit union said the incident exposed sensitive information that included Social Security numbers, financial account information and credit or debit card numbers. A filing with the Massachusetts Attorney General’s Office indicated at least 14 Massachusetts residents were affected.
Steps Taken by CU
According to the credit union, it investigated the incident, notified law enforcement, changed network passwords and implemented additional security measures following the breach. It also offered affected consumers 24 months of complimentary credit monitoring and identity protection services through Cyberscout, a TransUnion company.
What’s In Settlement
Under the proposed settlement, individuals are eligible if they:
- Reside in the United States.
- Received notice that their personal information was compromised in the July 2024 Parks Heritage Federal Credit Union data security incident.
- Had their personal information affected during the breach.
According to Claim Depot, eligible class members may choose between two forms of compensation:
- Up to $4,500 for documented, unreimbursed out-of-pocket losses related to the breach, including expenses associated with identity theft or fraud, credit monitoring, replacing identification documents, postage and professional fees. Claimants may also seek reimbursement for up to four hours of lost time at $25 per hour, subject to the overall $4,500 cap.
- A $75 alternative cash payment for those who do not seek reimbursement for documented losses.
In addition, all eligible class members may enroll in two years of CyEx Financial Shield Complete, which includes identity theft monitoring, unauthorized transaction monitoring and $1 million in financial fraud insurance, according to Claim Depot.
Claims must be submitted by Sept. 8, 2026.
According to Claim Depot, the settlement also provides for attorneys’ fees and costs of up to $225,000 and service awards of $4,500 each to the two class representatives.
