Important Notice for Members Who Bank with Patelco

Understanding the Impact of Patelco’s Recent Cyber Security Incident

We understand that some of our members also bank with Patelco Credit Union. On June 29th, Patelco experienced a ransomware attack that affected some of their critical banking systems. This incident may cause delays or issues with electronic transfers and loan payments originating from your Patelco account.

Here’s what you need to know:

• Potential Delays: While OE Federal’s systems are functioning normally, you may experience delays with transfers or direct deposits coming from your Patelco account due to their ongoing disruption.
• Verifying Transfers: We recommend logging into your OE Federal online banking system to check your account history and confirm if your transfers have been posted successfully.
• Rescheduling Transfers (Optional): If your transfers haven’t been posted, hold off on rescheduling them for now. Wait until Patelco’s systems are back online to see if the transfers are automatically reposted. You can then reschedule any missed transfers at that time.

OE Federal is Here to Help

We understand this situation may be frustrating, and we are committed to supporting our members impacted by this event.

• Late Fee Waivers: OE Federal will waive any late payment fees for July loan payments if you make the payment via a transfer from a Patelco account that was delayed due to the cyber security incident.

What to Do Now

• Verify Transfers: Access your OE Federal online banking to confirm your transfer history.
• Reschedule Transfers (Optional): Wait until Patelco’s systems are back online before rescheduling any failed transfers.
• Late Fee Waivers: Qualify for a late fee waiver on your July loan payment by making the payment from a Patelco account affected by the incident.

Have Questions?

If you have any questions regarding how OE Federal is addressing this issue, please don’t hesitate to contact us.