SAN ANTONIO– Generations Federal Credit Union has agreed to a class action lawsuit settlement to resolve claims it failed to protect consumers from a 2022 data breach.
According to TopClassActions.com, the settlement benefits individuals who received written notification from Generations Federal Credit Union that their personal information was potentially compromised in a breach between Dec. 13 and 15, 2022.
The data breach allegedly exposed sensitive information, including Social Security numbers and financial account numbers, TopClassActions.com reported.
The $747 million Generations Federal Credit Union has not admitted any wrongdoing but agreed to pay an undisclosed sum to resolve the class action lawsuit.
Terms of Settlement
Under the terms, class members can receive up to $500 for out-of-pocket expenses, such as fees, communication charges and travel expenses, and up to four hours of lost time at a rate of $20 per hour.
Class members who experienced extraordinary losses as a result of the breach can receive additional compensation of up to $4,500 for documented monetary losses, TopClassActions.com stated.
All class members are also eligible for two years of free three-bureau credit monitoring and identity theft protection services with at least $1 million in identity theft insurance.
Security Improvements
Generations Federal Credit Union also agreed to implement security-related improvements to better protect consumer data.
The deadline for exclusion and objection is Sept. 30, 2025, the report stated. The final approval hearing is scheduled for Jan. 20, 2026.
