Patelco Credit Union $7.25M Data Breach Settlement

Individuals whom Patelco Credit Union notified that a June 2024 data security incident impacted their personal information may qualify to submit a claim for up to $5,000 from a class action settlement. The cyberattack impacted an estimated 1 million current and former credit union members.

Patelco Credit Union agreed to pay $7.25 million to settle a class action lawsuit related to a data breach discovered in June 2024. The plaintiffs claimed unauthorized access to Patelco’s systems exposed members’ personally identifiable information.

Who can file a claim for a data breach payout?

Class members are individuals whose personal information the June 2024 data security incident potentially exposed and whom Patelco notified of the breach in or around August 2024.

How much are settlement payments?

• Documented loss reimbursement: Class members can claim up to $5,000 in documented monetary losses traceable to the data breach. This includes credit monitoring costs, fees for freezing or unfreezing credit, costs for hiring professional services to remedy identity theft and other expenses.
• Pro rata cash payment: Class members who do not submit a documented losses claim can submit a claim to receive a pro rata cash payment estimated between $100 and $200. The settlement administrator will determine the final payment amount by the total number of claims filed.

How to claim a class action rebate

To receive a settlement payment, class members can file a claim online or print the PDF claim form to mail to the settlement administrator.

Settlement administrator's mailing address: Cordell, et al. v. Patelco Credit Union Settlement, c/o Angeion Group, 1650 Arch St., Suite 2210, Philadelphia, PA 19103

The claim deadline is June 11, 2026.

Required proof and claim information

• To submit a claim online or by mail, the class member must provide the notice ID and confirmation code from the settlement notice they received.
• To submit a documented losses claim, the class member must provide supporting documentation, which may include receipts, bills, bank or credit card statements showing fees or fraudulent charges and other proof of identity theft, fraud or other unreimbursed expenses.

Payout options

• PayPal
• Venmo
• Zelle
• Virtual prepaid card
• Paper check mailed to the address provided

$7.25 million data breach settlement fund

The $7,250,000 settlement fund will include:

• Settlement administration costs: To be determined
• Attorneys' fees: Up to $2,537,500
• Attorneys' expenses: To be determined
• Service awards to class representatives: $2,500 each
• Payments to approved claimants: Remaining settlement funds

Important dates

• Exclusion deadline: May 12, 2026
• Deadline to file a claim: June 11, 2026
• Final approval hearing: July 1, 2026

When is the Patelco Credit Union data breach settlement payout date?

The settlement administrator will issue payments to approved claimants approximately 60 days after the court grants final approval of the settlement.

Why is there a class action settlement?

The class action lawsuit alleged Patelco Credit Union experienced a cyberattack in June 2024 in which an unauthorized user accessed private information stored on its systems. The complaint alleged Patelco failed to adequately protect members’ personal information.

Patelco denies the allegations but agreed to settle to avoid the risks and expense of continued litigation and a possible trial.

Sources

1. Settlement website
2. Settlement notice
3. Claim form