The first time I wrote about this story was a few days ago and can be viewed here:
Patelco Credit Union Experienced A Breach
Today, July 4, 2024 Patelco Members still have not been able to access their accounts. Since the shut down of all online operations on June 29, 2024 Members have been able to access cash from Patelco ATM machines as well as ATM machines from shared branches.
Many Members are relieved to find their purchases, rents, mortgages, insurance payments and other automated withdrawals on their accounts continue to be covered by Patelco Credit Union.
Despite this relief and assurances from Patelco’s CEO that funds are safe and customer services reps will be available to Members on a National Holiday to ameliorate any fears, the question is still posed,
“Why can’t we access our online accounts?”
This morning’s discussion proved to be very useful and offered more information to the nature and virulence of ransomware attacks as well as Patelco’s myriad of lawsuits filed against them over the years for everything from discrimination to the unlawful firing of whistleblowers.
You can isten to this second discussion here:
We still don’t have the answers. We still don’t know if Patelco is planning on shuttering all operations or if the credit union, which has been in existence since 1936, is planning on hitting the reset button so to speak and opening in a much smaller capacity. Either way, one thing is for certain: as far as many Members know, there has never been a time in history when Members are supposed to blindly believe that their banking institution will simply “take care of them” while these Members are kept away from their own assets.
Patelco Credit Union isn’t a bank. It’s a non-profit institution that is member owned. The Board of Patelco must answer to its Members, not the other way around. What Members are experiencing is unprecedented and undemocratic.
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