$7.25M Patelco Credit Union Settlement Ends Class Action Lawsuit Over Data Breach Discovered June 2024

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Patelco Credit Union has agreed to a $7,250,000 settlement to resolve a class action lawsuit that alleged the financial cooperative failed to protect the sensitive information of its current and former members from a data breach discovered in June 2024.

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The $7.25 million Patelco Credit Union class action settlement received preliminary approval from the court on February 26, 2026 and covers all individuals whose personally identifying information was potentially involved in the data breach as notified by Patelco.

Court documents indicate that approximately one million current and former members of the credit union are eligible for relief from the deal.

The court-approved website for the Patelco Credit Union class action settlement can be found at PatelcoSettlement.com.

According to the agreement, Patelco settlement class members who submit a timely, valid claim form have two options for monetary reimbursement.

Settlement documents state that class members who submit a claim form with documented proof of monetary losses are eligible to receive up to $5,000 in reimbursement. The agreement says class members must submit proof, like invoices or receipts, that demonstrate they incurred expenses because of the data breach that have not been previously reimbursed.

Instead of a documented-loss payment, class members may submit a claim form to receive a one-time, pro-rated cash payment from the settlement fund estimated to be $100 per share. The agreement notes that the final amount of this payment may increase or decrease depending on the number of valid claims filed and the amount remaining in the net settlement fund after all attorneys’ fees, administration expenses, lead plaintiff service awards, and documented-loss claims have been paid.

Additionally, the agreement states that class members who were California residents at any time between June 29, 2024 and June 11, 2026 are eligible to receive two shares of the pro-rated cash payment, for a total of approximately $200, due to statutory provisions under the California Consumer Privacy Act.

 To submit a Patelco settlement claim form online, class members can head to this page and enter the notice ID and confirmation code found on their copy of the settlement notice. Alternatively, class members can download a PDF claim form to print, fill out, and return by mail to the address of the settlement administrator.

All Patelco Credit Union settlement claim forms must be submitted online or postmarked no later than June 11, 2026.

Finally, Patelco has agreed to implement certain business practice changes to improve and better secure its systems as part of the settlement agreement.

The court will determine whether to grant the Patelco data breach settlement final approval following a hearing on July 1, 2026. Compensation will begin to be distributed to class members only after final approval has been granted and any appeals have been resolved.

The Patelco Credit Union class action lawsuit claimed that the California-based, member-owned financial institution failed to implement reasonable cybersecurity measures to safeguard sensitive information tied to current and former members of the credit union, leading to a data breach discovered on June 29, 2024. According to the filing, private information that may have been accessed in the breach includes names, Social Security numbers, driver’s license numbers, dates of birth and/or email addresses.

Did you know that some class action settlements require no proof to submit a claim? Check out the latest class action settlements.