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Quincy Credit Union is on high alert this week after discovering hundreds of its members may have been victimized by an ATM skimming scam over the weekend.

In an interview by phone with Banker & Tradesman yesterday, CEO Stewart Steele was careful to say that the investigation into the scam was still underway and that the financial institution had drawn no firm conclusions yet about the nature of the attack.

“We are still in the investigative process to determine if in fact that is the case,” he said. “We have hired a forensic investigator firm to review the situation and look at all the activity at the physical ATMs. When I get their report back, we’ll have a better conclusive understanding of whether that was the case.”

Nonetheless, the $467 million credit union began issuing new cards for affected members at both of its two locations on Monday morning.

Steele said the credit union learned of the fraud over the weekend, when its debit card processor alerted the institution to a high volume of fraudulent activity all taking place in New York. The credit union believes a skimming device may have been attached to one of its ATMs in late November or early December.

He said that about 670 of the credit union’s members are believed to have been affected, but the credit union has not yet pinned down a precise dollar amount stolen. Steele did emphasize, however, that its members’ accounts were insured in full.

Quincy Credit Union has been cooperating with law enforcement and its state and federal regulators in the investigation, he said.