Recent Outage at Patelco Credit Union

Patelco Credit Union recently announced an outage due to a security incident that occurred on Saturday June 29th that has impacted many of their banking systems. Provident is not impacted by this incident and our banking systems are functioning as normal.

Cybersecurity is a risk to every organization and banking is no exception. We are committed to keeping member data safe and we must remain diligent in our approach to security. I would like to share some details on how we protect your personal information and plan for situations like this to provide access to your accounts as quickly as possible.

We have made and will continue to make significant investments in our security infrastructure to ensure that your accounts and personal information are safe. We utilize several measures to protect your accounts including advanced encryption, multi -factor authentication, firewalls, backups of all systems (with Ransomware protection), and 24/7 system monitoring to ensure no malicious activity is taking place. In addition to our security team, we regularly engage with cybersecurity experts to review our systems and make recommendations to further protect your information.

We have comprehensive incident response and business continuity plans and review them on a regular basis along with scenario planning exercises to ensure our teams are prepared to handle similar situations. In addition to a dedicated and experienced internal security team, all employees complete quarterly security awareness training and participate in monthly cybersecurity simulations. Finally, we conduct various disaster recovery tests to ensure that we are able to continue operations during a natural disaster or a cyber security incident.

These are just some of the strategies and tactics we utilize to help protect your personal financial information. The safety of your accounts and personal information is our top priority. Thank you for being a loyal member of Provident Credit Union.

Sincerely,

Jim Ernest
President & CEO
Provident Credit Union

Important information for members of Patelco
Some Provident members who are also members of Patelco and have a one-time or recurring transfer may be impacted by their outage. We encourage you to access Provident's online banking system to view your account history, and to verify if your transfers have been posted. If your transfers do not post successfully, we recommend that you wait to reschedule those transfers until you verify that Patelco's systems are back online, and that failed transfers will not be automatically sent.

Provident will waive any late payment fees for members who have a scheduled July loan payment due with Provident and make the payment via a transfer from a Patelco account.

Frequently asked Questions:
Q. I have automatic transfers to/from a Provident account from my account at Patelco. How do I know if they completed successfully?
A. We recommend that you use Provident’s online banking system and view your account history to determine if transfers were posted successfully. 

Q. I have a loan with Provident that I pay from my accounts at Patelco. What are my options?
A. Due to the system outage at Patelco, you may not be able to transfer funds from your Patelco account to make a loan payment at Provident. We suggest you stay in contact with Patelco to learn if failed transfers will be sent automatically when their system issues are resolved. If not, you may need to reschedule the transfer. Provident will waive any late payment fees on July loan payments made via a Patelco account transfer.

Q. Am I able to use a Provident ATM to withdraw funds from my Patelco account?
A. Yes. Patelco members can use a Provident ATM to withdraw funds from their Patelco accounts.