Patelco Credit Union Recovering from Cyber AttackPatelco Credit Union Recovering from Cyber Attack Patelco Credit Union has made limited progress in restoring online services after a cyber attack that has forced the credit union to impose restrictions on customer accounts. CEO Erin Mendez stated that core systems have been validated and customers can now use Venmo and PayPal payments. Mendez also assured that borrowers will not be penalized for missed payments due to the system disruption. However, many customers still face significant challenges. Social security payments have been returned, and many have incurred late fees. Concerns have also been raised about the potential compromise of confidential information. The credit union has extended its phone support hours to assist customers with account issues. Mendez acknowledged the ongoing frustration but emphasized the team’s commitment to resolving the situation. Details about the full extent of the attack and the status of customers’ assets remain unknown. Inquiries from the media have been directed to an online webpage dedicated to the security breach. With rent and bill payments approaching, customers are experiencing long lines at Patelco’s branches and resorting to check-cashing services to access funds. The credit union allows check writing, but customers cannot verify account balances. The situation remains fluid, and Patelco has not provided a clear timeline for full restoration of services or the release of further information regarding the attack.
Patelco Credit Union, after a week of customer lockdowns, made minor restorations in online functions as it reels from an ongoing cyber attack targeting its systems and databases.
On Friday, Dublin-based Patelco’s CEO Erin Mendez tried to assure customers “your money is safe and secure” while patrons remained locked out of their online accounts, unable to check their balances or see direct deposits.
Cyber security specialists “have validated and greenlighted our core systems,” Mendez wrote in a July 3 update. They assured customers they can now use Venmo and PayPal payments, and that borrowers would not be penalized or incur fees because of missed payments during the system attack. The credit union also opened up its phone support lines on July 4 from 8 am to 5 pm to take calls regarding customers’ accounts.
This follows the initial June 29 notice from Patelco detailing a lockdown of customers’ accounts, barring anyone from accessing any information about their statement balances, online payments, direct deposits, transfers or other daily functions.
Since then, Social Security payments have bounced, customers have incurred late fees for missed payments and many have complained of a lack of communication from Patelco.
“I know this continues to cause our members frustration and many of you have questions,” Mendez wrote. “We hear your concerns and are working around the clock to address them. Our team is committed to doing everything we can to support our members through this difficult situation.”
It is still unclear when the credit union’s systems will be fully operational, how much of the credit union’s over $9 billion in assets was affected and whether or not customers’ confidential information was targeted and compromised or stolen.
Media inquiries from this news organization were returned by Rina Johnson, Patelco’s Vice president of marketing, only to say that the credit union continues to release all updates online via its dedicated webpage about the security attack. She referred to the latest update as “good news.”
With rent and bill payments beginning to stack up past due for many of Patelco’s half a million clients statewide, customers are left having to wait in lines at many of Patelco’s 37 branches in California. Others may have resorted to going to a Western Union or other check cashing place to take out money or send a payment to a credit card company or landlord.
Patelco has said customers can still write checks, but they have no way of checking how much money they have in their accounts.
No other information on the Patelco attack was immediately available Friday.
