SHREVEPORT, La. — Carter Credit Union has agreed to provide three years of credit monitoring and cash payments of up to $2,500 per affected member to settle a class-action lawsuit stemming from a June 2025 cyberattack that exposed members’ personal information.
Under the proposed settlement, eligible class members can choose between reimbursement of documented losses of up to $2,500 or a $50 cash payment that does not require documentation. All class members also are eligible for three years of credit monitoring, according to a court-authorized settlement notice.
The settlement requires approval by the 1st Judicial District Court in Caddo Parish, Louisiana. Carter Credit Union, which does business as Carter Federal Credit Union, denies wrongdoing, and the court has not ruled on the merits of the claims. The parties said they agreed to settle to avoid the costs, risks and uncertainty of continuing the litigation.
Members Can Seek Up to $2,500
Class members who suffered actual, documented losses tied to the breach may seek reimbursement of up to $2,500.
Eligible losses must have occurred between June 25, 2025, and Nov. 19, 2026, and must be reasonably traceable to the cyberattack. Covered expenses can include losses from identity theft or fraud, costs for credit reports or monitoring, fees associated with freezing or unfreezing credit, replacement identification costs and postage used to contact financial institutions.
Members seeking reimbursement must provide documentation such as receipts or bank statements. Expenses already reimbursed by another party are not eligible.
Alternatively, class members can claim a one-time payment of $50 without providing documentation or an explanation.
Class members also can enroll in three years of CyEx Financial Shield Complete, which includes $1 million in financial fraud insurance and monitoring for identity theft, unauthorized financial transactions and personal information associated with high-risk transactions. The service also provides access to a fraud-resolution agent if suspicious activity related to the breach occurs.
Cyberattack Exposed Sensitive Information
The lawsuit, Ellis et al. v. Carter Credit Union d/b/a Carter Federal Credit Union, stems from a targeted cyberattack on the credit union’s computer systems beginning around June 25, 2025.
The lawsuit alleges attackers accessed files that may have contained names, addresses, Social Security numbers, driver’s license and government-issued identification numbers, account and payment-card information, dates of birth, medical information, health insurance information and other personally identifiable or protected health information.
The settlement class generally includes people whose personally identifiable information was compromised as a result of the incident.
Nov. 19 Deadline for Claims
Eligible members must submit claims online or have mailed claims postmarked by Nov. 19. Members who take no action will receive no settlement benefits and will give up their right to pursue separate litigation against Carter Federal over claims covered by the settlement.
The court has scheduled a final approval hearing for Nov. 30 at 9:30 a.m. Central time in Shreveport. Payments will be distributed only after the settlement receives final approval and any appeals are resolved.
The proposed agreement also calls for Carter Federal to pay up to $400,000 in attorneys’ fees and litigation costs, subject to court approval, as well as proposed $2,000 service awards for each of the nine class representatives.
