Patelco’s network stabilized 8 days after ransomware attack

More than a week after a devastating ransomware attack on Dublin, California-based Patelco Credit Union ($9.7 billion in assets, 502,421 members), officials said the credit union’s network has stabilized and transactions have begun processing. While this is good news overall, it is still unclear when members will be able to return to business as usual.

In a statement released on Sunday, Patelco President/CEO Erin Mendez said: “I am pleased to report that we have stabilized our network and begun processing transactions. Once this is complete and we achieve full banking functionality, our members will be able to access their balances and accounts as they would under normal circumstances. I cannot give an exact date as to when we will return to normal business operations, but we can see the light at the end of the tunnel. I will keep you updated as we make progress on this front in particular.”

In the statement to members, Mendez added: “I know I’ve told you this before, but restoring our systems while ensuring their future security requires careful and methodical work. I know this may not move as quickly as you would like, but rest assured that we are working as quickly as we can and we know how important this is to our members.”

The credit union has been posting daily updates since June 29, and while some members have posted sympathetic statements on Patelco’s social media pages, other members are voicing their frustration.

A person who identified himself as a Patelco member on Instagram stated: “In addition to losing customers, some of us are seeking lawsuits for damages and lack of transparency. REGULATE YOURSELF ACCORDINGLY!!!!”

Another person simply said, “Get it fixed, damn it.”

Patelco is the seventh largest credit union in California.