Patelco Credit Union Knocked Offline by Major Cybersecurity Incident
On June 29, 2024, Patelco Credit Union, headquartered in Dublin, California, with 33 branches across the Bay Area, experienced a "serious security incident," leading to the shutdown of various banking systems. The incident disrupted electronic transactions, online banking, mobile app services, and the call center, affecting nearly half a million customers. Efforts to resolve the issue began immediately, but there is yet to be a clear timeline for restoration.
Customers have faced significant inconveniences, such as being unable to access funds, make transfers, or check balances. The disruption has raised concerns about the safety of their money and potential impacts on their pay, rent, and mortgage payments. Many have expressed dissatisfaction with Patelco's communication, seeking more transparency about the incident.
Cybersecurity experts suggest the severity of the incident implies a significant breach, with unauthorized access likely crippling Patelco's network. Customers are advised to monitor their financial activities closely and change their passwords as a precaution. Patelco, managing $9 billion in assets, continues to work on resolving the issue and has assured customers that branches will be open to assist.