Patelco Credit Union's recent service disruption was caused by a ransomware attack. This security breach forced the credit union to shut down its online banking and mobile app functions, leaving customers unable to make payments, receive funds through direct deposit, or transfer money. The credit union is working with cybersecurity experts to address the issue and restore services.
Patelco Credit Union customers are facing difficulties in accessing their funds due to limited transaction capabilities resulting from a ransomware attack. Basic banking functions such as transfers, direct deposits, balance inquiries, and payments are unavailable5. Debit and credit card transactions are functioning in a limited capacity, causing issues for customers trying to withdraw money or make purchases. Many customers have complained about not being able to use ATMs or debit cards, and are concerned about the safety of their assets.
Patelco Credit Union has taken several measures to address the ransomware attack. They proactively shut down some of their day-to-day banking systems to contain and remediate the issue5. They have engaged a leading third-party cybersecurity forensic firm to investigate and recover as soon as possible. Additionally, they are working around the clock to restore full service and providing updates to their customers through their website and social media platforms.