Published: June 13, 2008 09:23 pm         

Credit unions offer shredding day

Facilities destroy personal documents free

DANVILLE — People should never let their guard down when it comes to identity theft. As fast as one scam comes to the public’s attention, it seems that law enforcement uncovers another. But there’s one method that never fails to thwart identity thieves — paper shredding.

Dumpster diving, when thieves steal victims’ trash in search of documents containing personal information, has become a common form of identity theft.

Illinois credit unions have declared June 2008 as “Shred Month.” They are shredding the public’s unwanted documents for free.

The Danville Area Chapter of Credit Unions will hold a community shred day on June 21. The event will take place in the parking lot of 1st Illinois Credit Union.

According to Sherry Askren, marketing manager for 1st Illinois CU, “The purpose of this is to keep identity theft down. We’ve had instances in Danville, and our nine credit unions are working together on this.”

The public is invited to bring their unwanted personal documents, such as tax paperwork, old account statements, cancelled checks, credit card and ATM receipts and unwanted credit card offers for on-the-spot shredding. Askren said a shredding truck will be parked in the employee lot across Gilbert Street from the credit union.

Dan Plauda, president/chief executive officer of the Illinois Credit Union League, said, “Every three seconds, someone becomes a victim of identity theft. Education and properly disposing of personal documents are among the best ways to deter thieves.”

Not only does an event like this help protect consumers, it benefits the environment.

Lynn Wolgamot, director of Keep Vermilion County Beautiful, called the shred day “another example of the going green movement.

“It’s great to see these different financial institutions provide this service,” Wolgamot said.

Shredded paper can be used as packaging material and can be recycled.

This event is being held in conjunction Danville Bell CU, Danville Consolidated CU, Education Personnel FCU, Landmark CU, Lauhoff ECU, Midwest America CU, New Horizon CU, and Tee Pak CU.

Credit unions of Illinois offer the following guidelines about what documents to keep and for how long:

Credit card receipts and statements — Keep receipts until monthly statement arrives; shred the receipts if statement is correct. Keep statements for seven years if they contain tax-related expenses.

Exceptions: Keep a receipt if you’re disputing a bill or to cover a warranty or return period.

Pay check stubs — Make sure the information on paycheck stubs matches your annual W-2 when you receive it, then shred the stubs.

If an employer lists vacation/sick leave carryover on your paycheck stub, keep the last one of the year.

Credit union records — Only keep those related to taxes, business expenses, and housing or mortgage payments.

Tax records — The IRS has three years to audit tax returns and tax filers have three years to file an amended return to claim a refund if they made a mistake. Keep a copy of all 1040 tax forms permanently.

Miscellaneous — Keep permanently an updated household inventory, birth and death certificates, marriage license, divorce papers, military records, insurance claims, accident reports and claims, proof of ownership and major debt repayment, IRA contribution records and legal correspondence.



IF YOU GO

First Illinois Credit Union, 323 N. Glibert St., will hold a Community Shred Day from 10 a.m. to 2 p.m. June 21, in the parking lot across from the credit union building.Limit is two 10-gallon totes or boxes. No businesses are allowed. For more information, call 446-2125.