Nearly half a million members of Patelco Credit Union, which has branches in the Bay Area and Northern California, no longer have access to banking services after what its CEO called a “serious security incident” last weekend.
The Dublin, Alameda County-based credit union announced at 7 a.m. that their services were unavailable, including online banking, mobile app, direct deposits, wire transfers and debit and credit card transactions.
Patelco members received an email from CEO Erin Mendez about the security incident. However, the details of the incident were not disclosed.
As of 11:30 a.m. Monday, Patelco’s website was still not functioning.
The email said the credit union was working with cybersecurity experts to assess the situation and restore services. Mendez also said no estimated time for recovery was 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 nonprofit credit union has 37 branches in the Bay Area and Sacramento. It is one of the oldest credit unions in the U.S., founded in 1936 for employees of the former Pacific Telephone and Telegraph Company, now known as AT&T.
