Patelco Credit Union Hit by Ransomware Attack, Half a Million Members Locked Out, Facing Lawsuit

Jul 3, 2024, 11:01 AM

Patelco Credit Union has been hit by a ransomware attack, leaving half a million members unable to access their accounts. The incident, described as a 'serious security incident,' has disrupted critical banking services, particularly during a time when rent payments are due. Customers have reported being unable to withdraw money, missing payments, and facing long lines at ATMs. Patelco has shut down its banking systems to address the issue but has not provided a timeline for resolution. Four days after the attack, the American Bay Area credit union is still struggling to recover and is now facing a lawsuit over the effects of the attack.