Statement on the LCCU IT Failure

Dear member

Earlier this month the credit union’s computer system suffered a serious failure. We believe this was caused by a person or group with malicious intent.

What happened?

LCCU’s computer records were encrypted temporarily as part of the attack. This led to an interruption for three working days, during which time staff were unable to access files held on our central servers, and we placed a temporary cap on withdrawals.

That cap was lifted as soon as possible and I am pleased to report all our services have now been restored, with the exception of the automated telephone banking service, which we are working to fix.

We do not believe members’ personal data was compromised but, if evidence emerges to the contrary, we will write to you again to inform you.

Our response

Our IT team responded to the incident and worked around the clock to restore the system. The credit union’s servers are backed up regularly with copies of the data being transferred and held securely offsite. We were able to restore our core banking system within 48 hours. We have installed new anti-virus software and we have launched a full review of our IT security.
The attack was immediately reported to the police, our regulators and to the Information Commissioner’s Office. We have continued to liaise with them and follow their advice in dealing with this matter.

We know the disruption to member services was very inconvenient and for this we would like to apologise without reservation.

We are working to restore our automated telephone banking as soon as possible and we will publish an update on our website when the service has returned.

Remain vigilant

We do not believe there is any threat to your account but we ask that members remain vigilant over the coming weeks. We recommend that you:

  • Monitor your account activity for transactions you do not recognise
  • Check your credit file for credit requests or alternations you did not make
  • Update passwords and your secure information if you have any concern that they have been compromised.

If for any reason you believe the security on your account has been affected please report it to us as quickly as possible.

Our commitment to you

We are committed to ensuring members are not left out of pocket as a result of the system failure. Therefore the credit union has decided to compensate members who suffered financial penalties because of delayed payments. Members will be asked to provide written evidence.

If you believe you have suffered a financial loss because of the IT failure then please contact us at security@londoncu.co.uk, call our customer service team on 020 7729 9218 or visit one of our branches in Bow, Bethnal Green, Hackney, Stratford or Poplar. Branches are open 10am – 6pm Monday, Tuesday, Wednesday and Friday, and 10am – 2pm on Thursday and Saturday.

Once again, we would like to apologise for the disruption. Thank you once again for your continued support. Our members are the lifeblood of the credit union and we aim to provide you with a service that is second to none.