No end in sight to Patelco Credit Union ransomware attack that crippled online banking for 500,000 members
What caused Patelco's systems to be crippled?
Patelco Credit Union's systems were crippled due to a ransomware attack that took place on June 29, 2024. This security breach forced the credit union to proactively shut down some of its day-to-day banking systems, including online banking, mobile app, and call center services, in order to contain and remediate the issue34. The perpetrators of the attack remain unknown, and no ransomware groups have claimed responsibility yet.
How are Patelco customers currently accessing their funds?
Patelco customers are currently accessing their funds through ATMs in the larger Co-Op network, which has over 30,000 shared branch ATMs across the U.S. However, many customers still face difficulty accessing their money due to the data breach that forced the credit union to shut down essential banking services6.
What specific assistance did Patelco promise to affected members?
Patelco Credit Union promised several forms of assistance to its affected members following a ransomware attack. This includes reimbursement for any late payment fees incurred due to the outage, waiving of Patelco overdraft, late payment, or ATM fees until systems are restored, and writing letters on behalf of members concerned about late payments impacting their credit score. They also assured members that their deposits are insured by the National Credit Union Administration.