Bay Area hit by ransomware attack patelko credit union Nearly 500,000 members are unable to use banking services, and the outage is likely to last for weeks.
The company shared news of the attack via Twitter on June 29. The canceled services include online banking, the company’s mobile app, direct deposit, transfers, debit and credit card transactions, Zelle, balance inquiries, online bill payments and monthly statements.
In addition to consumer banking, Patelco Credit Union is a mortgage loan originator and offers home equity lines of credit and mortgage refinances. The company is headquartered in Dublin, California, but serves the San Francisco Bay Area and Northern California.
Patelco CEO Erin Mendez issued a statement on Wednesday saying that its cybersecurity experts had verified “core systems” and that members’ funds were “safe and secure.” She added that she didn’t expect the system to be up and running by the end of the week.
“I know this continues to be frustrating for our members and many of you have questions,” she said in the statement, adding that any fees incurred as a result of the closure will be waived. “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 time.
According to the Mercury News, hackers infiltrated the bank’s internal database via phishing emails and encrypted their contents, locking the bank out of its systems.
Patelco operates as a not-for-profit cooperative with $9 billion in assets. Although the company has provided daily updates since the attack on June 29, there appears to be no timetable for when systems will be restored, and it has warned that further outages are possible.
Services that remain online include check and cash deposits, ATM withdrawals, ACH transfers, ACH bill payments, and branch loan payments.
