Patelco Credit Union "serious security incident" halts banking services for nearly half a million members
Story by Carlos Castañeda
Nearly a half-million members of Patelco Credit Union, with branches across the Bay Area and Northern California, have not had access to banking services following what the CEO called a "serious security incident" over the weekend.
The Dublin, Alameda County-based credit union announced at 7 a.m. and said their services were unavailable, including online banking, mobile app, direct deposits, transfers and debit and credit card transactions.
Patelco members received an email from President and CEO Erin Mendez about the security incident, although the details of the incident were not disclosed.
The email said the credit union was working with cybersecurity experts to assess the situation and restore services. Mendez also said an estimated time of restoration was not available.
Patelco is the 27th largest credit union in the country with $9.8 billion in assets and 455,000 members with more than 1 million accounts. The non-profit credit union has 37 branches in the Bay Area and Sacramento area. It is one of the oldest credit unions in the U.S., begun in 1936 for employees of the former Pacific Telephone and Telegraph Company, now known as AT&T.
Patelco Credit Union "serious security incident" halts banki
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