As credit union leaders across California and Nevada may have already noticed, a recent widespread ransomware attack on Patelco CU is impacting its operations and more than 500,000 members.
On June 29, the credit union discovered that certain systems had been compromised, prompting Patelco CU to proactively shut down some of its daily banking operations to contain and resolve the issue. The credit union launched a dedicated webpage with the latest information and service availability updates.
On July 3, Patelco announced that cybersecurity specialists have validated and greenlighted the credit union’s core systems — and members’ money is safe and secure. Patelco’s cybersecurity professionals are continuing their larger forensic investigation on all file systems. When the credit union has information about those, it will share more at that time.
From July 4 – 7, the credit union’s technology team and cybersecurity experts will continue working 24/7 until the credit union’s systems are fully restored. They do not anticipate having systems up and running during this period.
In the meantime, Patelco has assured members that its priority is the safe and secure restoration of its banking systems, and that the credit union is working tirelessly alongside leading third-party cybersecurity experts to achieve this. Patelco engaged a forensic firm to assist in its investigation and recovery efforts, which is working around the clock to restore full functionality quickly and securely. The credit union is also working with regulators and law enforcement officials to investigate the incident.
The credit union’s branches and call center remain open and are operating during regular business hours. While Patelco members may experience longer wait times, the credit union’s staff is assisting with banking needs. Importantly, all ATMs are fully operational, ensuring continued access to cash.
Patelco is also:
During this challenging time, the California and Nevada Credit Union Leagues are confident in Patelco CU’s ability to navigate this situation and restore full functionality soon.
Nonetheless, the Leagues will provide fellow credit union leaders any essential updates as necessary as this issue is being resolved.
Additionally, the Leagues’ eTrain platform is offering six relevant cybersecurity and webinar/training sessions to protect your credit union.
