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Current and former customers in the United States whose private information a data breach involving LA Financial Federal Credit Union compromised on or about June 10, 2024, may qualify to claim up to $5100 from a class action settlement.
LA Financial Federal Credit Union, now known as Credit Union of Southern California, agreed to pay $725,000 to settle a class action lawsuit alleging it failed to adequately protect customer data, resulting in a data breach that exposed sensitive personal information, including dates of birth, Social Security numbers and financial account information. The cybersecurity incident impacted 34,866 current and former credit union customers.
Who can file a claim for a data breach payout?
Class members are individuals residing in the United states whose personally identifiable information the data breach involving LA Financial Federal Credit Union compromised, including those that received notice of the incident that occurred on or about June 10, 2024.
How much are settlement payments?
Class members have the following benefit options:
- Documented loss payment: Class members can claim up to $5,000 in documented out-of-pocket losses or expenses directly related to the data breach. Eligible losses may include internet usage charges, costs of credit reports purchased between June 10, 2024, and Aug. 5, 2026, costs for credit monitoring or fraud resolution services purchased primarily because of the breach and unreimbursed expenses or monetary losses due to identity theft or fraud.
- Alternative cash payment: Class members who do not submit a documented losses claim can submit a claim to receive a pro rata cash payment estimated at $50 or more. The settlement administrator will determine the final payment amount by the total number of claims filed.
- California statutory award: California residents who lived in the state at any time between June 10, 2024, and Aug. 5, 2026, can submit a claim to receive an additional $100 cash payment.
- Credit monitoring services: All class members can elect to receive two years of free credit monitoring services.
How to claim a class action rebate
To receive a settlement payment, class members can file a claim online or print the PDF claim form to complete and mail to the settlement administrator.
Settlement administrator's mailing address: LA Financial Data Security Incident Settlement Administrator, P.O. Box 6425, Portland, OR 97228-6425
The claim deadline is Aug. 5, 2026.
Required proof and claim information
- All class members must provide the unique ID from the settlement notice they received to submit a claim. Online claimants must also provide the PIN from the same notice.
- Documented loss claims require supporting documentation, which may include receipts, account statements showing unreimbursed fees or losses due to fraud, police reports or other proof of identity theft and fraud.
Payout options
Approved class members will receive an email from noreply@digitaldisbursements.com with instructions on how to select their payment via electronic payment or paper check.
Settlement fund breakdown
The $725,000 settlement fund will include:
- Settlement administration costs: Up to $85,000
- Attorneys' fees: Up to $241,666.66
- Attorneys' costs and expenses: To be presented to the court for approval at a later date
- Service awards to class representatives: Up to $5,000 each
- Credit monitoring costs: Paid from the fund
- Payments to approved class members: Remaining settlement funds
Important dates
- Deadline to opt out: July 6, 2026
- Final approval hearing: July 20, 2026
- Deadline to file a claim: Aug. 5, 2026
When is the LA Financial data breach settlement payout date?
The settlement administrator will issue payments and credit monitoring information to approved claimants when it completes claim processing or approximately 90 days after the court grants final approval of the settlement, whichever is sooner.
Why is there a class action settlement?
This class action lawsuit alleged LA Financial Federal Credit Union failed to protect customer data, resulting in a data breach on or about June 10, 2024. The plaintiffs claimed the breach compromised sensitive personal information.
The defendant denies the allegations and any legal liability but agreed to settle to avoid the uncertainty and cost of continued litigation.
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