$725K LA Financial Federal Credit Union Data Breach Settlement, Were Your Social Security Number and Financial Data Exposed? Here Is How to Claim Up to $5,100 Before August 5

The LA Financial Federal Credit Union data breach settlement is a class action lawsuit where affected current and former credit union members can receive up to $5,100 — plus two years of free credit monitoring — by filing a claim before August 5, 2026. LA Financial Federal Credit Union, now known as Credit Union of Southern California, agreed to pay $725,000 to resolve allegations that it failed to adequately protect member data after a cybersecurity incident on or about June 10, 2024, exposed sensitive personal information including dates of birth, Social Security numbers, and financial account data belonging to 34,866 current and former members. The case, Sumner Davenport et al. v. LA Financial Federal Credit Union, Case No. 24STCV24021, is pending in the Superior Court of California, Los Angeles County, with a final approval hearing set for July 20, 2026.

Settlement at a Glance — Davenport v. LA Financial FCU, Case No. 24STCV24021

Field	Detail
Settlement Amount	$725,000
Maximum Payout	Up to $5,100 (up to $5,000 documented losses + $100 California statutory award)
Claim Deadline	August 5, 2026
Who Qualifies	U.S. residents whose personal information was compromised in the LA Financial data breach on or about June 10, 2024
Proof Required	Yes — for documented loss claims. No proof needed for the pro-rata cash payment option
Settlement Status	Preliminarily Approved — Open for Claims
Administrator	Epiq Global — 1-866-931-4009 — [email protected]
Official Website	lafinancialsettlement.com
Last Updated	May 12, 2026

Where This Case Stands Right Now

• The court has granted preliminary approval to the $725,000 settlement and claims are now open.
• The final approval hearing is scheduled for July 20, 2026.
• Payments and credit monitoring enrollment information will be issued to approved claimants approximately 90 days after final court approval of the settlement, or when claim processing is complete — whichever comes first.
• The opt-out deadline is July 6, 2026, which falls before the claim filing deadline of August 5, 2026.

What Is the LA Financial Data Breach Lawsuit About? Davenport v. LA Financial Federal Credit Union, Case No. 24STCV24021

LA Financial Federal Credit Union is a Pasadena, California-based credit union that serves members across several Southern California locations and in Lake Havasu, Arizona. On or around June 10, 2024, the credit union detected suspicious activity that turned out to be unauthorized access to an employee email account. LA Financial brought in third-party cybersecurity specialists to investigate and secured the compromised account and network. By November 2024, the credit union sent breach notification letters to affected members and reported the incident to the California Attorney General’s office.

The investigation confirmed that hackers accessed one employee’s email account and, through it, reached sensitive personal information belonging to 34,866 current and former members. The exposed data included dates of birth, Social Security numbers, and financial account information — the types of data that carry significant identity theft and financial fraud risk because they cannot simply be changed the way a password or credit card number can. Plaintiff Sumner Davenport and other affected members filed this personal data stolen settlement lawsuit in Los Angeles Superior Court, alleging that LA Financial failed to implement adequate cybersecurity measures to protect the sensitive data it was entrusted with. LA Financial denies all allegations and any legal liability but agreed to pay $725,000 to avoid the cost and uncertainty of continued litigation.

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If you received a data breach notification letter from LA Financial Federal Credit Union — or Credit Union of Southern California, as it is now known — that is your primary signal that your data may have been exposed and that this settlement covers you. For a broader look at how credit union data breach cases have resolved, the Patelco Credit Union $7.25 million data breach settlement involved a comparable ransomware-related breach affecting over one million California credit union members and follows a similar claim structure.

Who Qualifies for the LA Financial Data Breach Settlement?

Eligibility for this data breach compensation is tied directly to the June 10, 2024 incident and whether LA Financial’s records show your personal information was compromised.

You may qualify if:

• You are a current or former member of LA Financial Federal Credit Union in the United States
• Your personally identifiable information — including name, date of birth, Social Security number, or financial account data — was compromised in the data breach that occurred on or about June 10, 2024
• You received a written breach notification from LA Financial Federal Credit Union or Credit Union of Southern California about this specific incident — receipt of that notice is the strongest indicator of eligibility
• You are a California resident who lived in the state at any point between June 10, 2024, and August 5, 2026 — California residents qualify for an additional $100 statutory payment under the California Consumer Privacy Act

You do NOT qualify if:

• You never received a data breach notification from LA Financial about this June 2024 incident
• Your only connection to LA Financial is through a different credit union or financial institution
• You submit a valid opt-out request before July 6, 2026 — opting out means you receive no settlement payment but preserve your right to sue independently

How Much Can You Get from the LA Financial Settlement?

The $725,000 gross fund will cover administration costs (up to $85,000), attorneys’ fees (up to $241,666.66), attorneys’ costs and expenses (amount to be presented to the court), service awards for class representatives (up to $5,000 each), and credit monitoring costs — all before class member payments go out. The remaining balance distributes to approved claimants. There are four benefit tiers:

Tier 1 — Documented Loss Payment (up to $5,000)

If you suffered actual out-of-pocket losses or expenses directly caused by this data breach, you can claim reimbursement up to $5,000. Eligible losses include internet service or usage charges incurred while dealing with the breach, the cost of credit reports you purchased between June 10, 2024, and August 5, 2026, fees for credit monitoring or fraud resolution services you paid for primarily because of this breach, and any unreimbursed monetary losses or expenses resulting from identity theft or fraud connected to the incident. You must provide supporting documentation — receipts, account statements, police reports, or other third-party records showing the loss and its connection to the breach.

Tier 2 — Pro-Rata Cash Payment (estimated $50 or more)

 If you do not have documented losses, or prefer a simpler claim, you can submit a claim for a pro-rata cash payment estimated at $50 or more. The final amount depends on how many class members file valid claims — the fewer claims filed, the larger each individual share. No proof is required for this option beyond confirming your identity and eligibility.

Tier 3 — California Statutory Award ($100) 

California residents who lived in the state at any time between June 10, 2024, and August 5, 2026, can claim an additional $100 cash payment under the California Consumer Privacy Act. This is available on top of either the documented loss payment or the pro-rata cash payment.

Tier 4 — Two Years of Free Credit Monitoring

 All class members can elect to receive two years of free credit monitoring services regardless of which cash option they choose. Given that Social Security numbers and financial account data were exposed — information that cannot be changed — credit monitoring is one of the most practical protective steps available. For context on how this type of credit monitoring identity theft lawsuit protection has been structured in similar financial institution breach cases, the Fidelity Investments $2.5 million data breach settlement offers a comparable two-year monitoring package.

How to File Your LA Financial Data Breach Claim

Filing takes approximately 10–15 minutes. You will need the unique ID and PIN from the settlement notice mailed or emailed to you. The claim deadline is August 5, 2026.

Step 1 — Locate your settlement notice from Epiq Global and find your unique ID and PIN on that notice.

Step 2 — Visit lafinancialsettlement.com and click the login link to file online, or download the PDF claim form to mail it in.

Step 3 — Choose your benefit option: documented loss payment (up to $5,000), pro-rata cash payment (estimated $50+), and/or two years of free credit monitoring. California residents should also select the $100 California statutory award.

Step 4 — If claiming documented losses, upload or attach your supporting documentation — receipts, account statements showing fraudulent charges, police reports, or records of identity theft costs. Self-prepared notes are not sufficient; you need third-party documentation.

Step 5 — Submit your claim online by August 5, 2026. If filing by mail, make sure your completed form is postmarked by August 5, 2026, and mailed to:

LA Financial Data Security Incident Settlement Administrator P.O. Box 6425 Portland, OR 97228-6425

Step 6 — After approval, watch for an email from [email protected] with instructions to select your payment method — electronic payment or paper check.

Estimated time to complete: 10–15 minutes.

LA Financial Settlement Key Dates

Milestone	Date
Data Breach Detected	On or about June 10, 2024
Breach Reported to CA Attorney General	September 13, 2024
Breach Notification Letters Sent to Members	November 27, 2024
Lawsuit Filed (Davenport v. LA Financial)	2024 — Case No. 24STCV24021
Opt-Out Deadline	July 6, 2026
Final Approval Hearing	July 20, 2026
Claim Filing Deadline	August 5, 2026
Expected Payment Date	Approximately 90 days after final court approval, or when claim processing is complete — whichever comes first

Frequently Asked Questions

Is there a class action settlement for the LA Financial Federal Credit Union data breach?

 Yes. Sumner Davenport et al. v. LA Financial Federal Credit Union, Case No. 24STCV24021, is pending in the Superior Court of California, Los Angeles County. LA Financial — now Credit Union of Southern California — agreed to pay $725,000 to settle claims arising from a June 10, 2024 data breach that exposed the personal information of 34,866 members. The claim deadline is August 5, 2026.

How do I know if I qualify for the LA Financial settlement? 

If you received a written data breach notification from LA Financial Federal Credit Union or Credit Union of Southern California about the June 2024 incident, you almost certainly qualify. The breach exposed Social Security numbers, dates of birth, and financial account information for 34,866 members — the settlement covers all U.S. residents whose data was compromised in that incident.

Do I need a lawyer to file a claim?

 No. Filing is free and straightforward at lafinancialsettlement.com. You do not need a consumer rights lawyer or a data privacy attorney to participate. Attorneys’ fees come entirely out of the settlement fund — not from your individual payment.

How much will I receive from the LA Financial settlement?

It depends on which option you choose. If you have documented out-of-pocket losses tied to the breach, you can claim up to $5,000. If you do not have documented losses, the pro-rata cash payment is estimated at $50 or more — the final amount depends on how many class members file valid claims. California residents can claim an additional $100 statutory award on top of either option.

What counts as a documented loss for the LA Financial settlement?

 Eligible documented losses include: internet service charges incurred while dealing with the breach, costs of credit reports purchased between June 10, 2024, and August 5, 2026, fees for credit monitoring or fraud resolution services you paid for because of this breach, and unreimbursed financial losses from identity theft or fraud connected to the incident. You must provide third-party documentation — receipts, bank statements, or official correspondence — to support these claims.

When will LA Financial settlement payments go out? 

Payments will be distributed approximately 90 days after the court grants final approval at the July 20, 2026 hearing, or when claim processing is complete — whichever comes first. Watch for an email from [email protected] with payment selection instructions.

What if I lost my settlement notice or unique ID?

 Contact Epiq Global at 1-866-931-4009 or email [email protected]. The administrator can help you verify your eligibility and retrieve your claim credentials. Do not wait — the August 5, 2026 deadline will not be extended.

Will the LA Financial settlement payment be taxable?

 Possibly. Settlement payments may have tax implications depending on the nature of your claim and your individual situation. Reimbursements for documented financial losses are often treated differently from general cash payments. Consult a tax professional for guidance — this article does not provide tax or legal advice.

Sources & References

1. Official Settlement Website — lafinancialsettlement.com (Epiq Global): lafinancialsettlement.com
2. CU Times — LA Financial Credit Union Mails Notice of Data Breach Letter to Members, September 26, 2024: cutimes.com

Prepared by the AllAboutLawyer.com Editorial Team and reviewed for factual accuracy against the official settlement website lafinancialsettlement.com and published case information for Sumner Davenport et al. v. LA Financial Federal Credit Union, Case No. 24STCV24021, Superior Court of California, Los Angeles County, on May 12, 2026. Last Updated: May 12, 2026

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. For advice regarding a particular situation, consult a qualified attorney.