Routing# 262275835
HUNTSVILLE, Ala. (March 13, 2025) – Redstone Federal Credit Union’s systems were not hacked or breached. Instead, Walmart.com was used to push through fraudulent charges. Upon discovering the fraudulent charges on member accounts, we have taken the necessary time to understand the situation, ensuring that all member information and funds remain secure.
The charges on some Redstone member accounts from Walmart.com are part of a Bank Identification Number (BIN) attack. A BIN attack, which is faced by all financial institutions, is a type of fraud perpetrated by cybercriminals who attempt to access credit and debit card systems using a method that involves randomly guessing numerous combinations of card numbers until the correct information works, allowing for unauthorized charges.
For those impacted, rest assured that all fraudulent charges will be reversed either by Walmart.com or reimbursed by Redstone. Walmart.com has already automatically refunded more than 77% of the fraudulent charges when they saw an increase in transactions. No Redstone member will suffer a loss as a result of this attack.
No financial institution is immune to this type of attack. Large retailers are particularly vulnerable to BIN attacks because they process a vast number of transactions daily, providing attackers with a wealth of data to exploit. While it’s impossible to prevent fraudsters from using brute force techniques to guess card numbers, Redstone is glad to provide tools members can use to monitor and protect their account. These tools include account alerts and Redstone’s Card Control feature, both available through our mobile app and online.
Redstone recognizes how frustrating fraudulent transactions can be, and we take this issue very seriously. We have safeguards in place to help prevent fraudulent attacks on our members’ accounts and are diligent in our account monitoring. We are in constant communication with VISA and other strategic partners to combat this situation that is affecting financial institutions nationwide.
If you notice any unauthorized charges on your account, please contact Redstone’s Fraud Department at 800-234-1234. For more information about BIN attacks, please visit: www.redfcu.org/BIN.
About Redstone Federal Credit Union
With more than $7.72 billion in assets, Redstone Federal Credit Union is the largest member-owned financial institution in Alabama and one of the largest federal credit unions in the nation by assets. Redstone is based in Huntsville, Alabama, and serves more than 809,800 members nationwide. Chartered on November 28, 1951, Redstone Federal Credit Union has proudly served its members for 70 years and has 27 conveniently located branches across North Alabama and Tennessee. Redstone Federal Credit Union provides a level of service that is not generally available at other financial institutions through its philosophy of - People Helping People.
Are you ready to join the credit union that puts you first? Become a member of the Redstone family and you’ll start enjoying the great rates, personalized financial advice, and excellent customer service Redstone is known for.