09/17/2026
Important Update About Our Banking Systems
As of 9/17/26
Dear Valued Member,
We want to share an update regarding the service interruption that has affected some of our banking systems.
First and most importantly, your money is safe and your personal information remains secure. The issue is not related to a cyberattack, fraud event, or data breach.
We know many of you rely on us every day to access your accounts, receive direct deposits, pay bills, and manage your finances. We understand how frustrating and concerning this situation is, and we want you to know that we are working closely with our core processing provider, Sharetec, to restore services as quickly and safely as possible.
What Happened?
Our core banking provider experienced a significant infrastructure failure at the data center that hosts their systems. The issue was caused by equipment damage following a cooling system failure at the facility.
While this has affected the availability of certain services, the recovery effort is focused on preserving the accuracy and integrity of member account information. In other words, the priority is making sure your account information is correct when systems are restored.
Where Things Stand Today
We received encouraging news this morning from Sharetec.
Their teams worked throughout the night and have now moved from preparation into active restoration. Core banking systems are being restored, additional infrastructure has been brought online, and recovery efforts are progressing.
Restoration will occur in phases, with systems being carefully brought back online and validated before service is restored. While progress is being made, Sharetec has advised that recovery efforts will continue throughout the day and that they do not yet have a confirmed timeframe for full restoration.
Questions You May Have
Is my money safe?
Yes.
There is no indication that member funds have been lost or compromised. The recovery efforts underway are specifically designed to protect the accuracy of account information and transactions.
Has LFCU been hacked?
No.
This is not a cybersecurity incident. According to Sharetec, the disruption was caused by a data center infrastructure failure and not by unauthorized access to systems or member data.
Is my personal information secure?
Yes.
Sharetec has confirmed there has been no data breach and no unauthorized access to member information.
What about my direct deposit?
We understand many members are concerned about payroll deposits.
Although system access has been affected, there is currently no indication that incoming deposits have been lost. Sharetec’s recovery process is focused on ensuring all transactions and account records are restored accurately.
Why is restoration taking time?
Sharetec is taking a careful approach to ensure account information is accurate before each system is returned to service. While we all want services restored as quickly as possible, protecting the integrity of member accounts is the top priority.
When will services be fully available?
At this time, Sharetec has not provided a specific restoration timeline that they are confident in sharing. We know the uncertainty is difficult, and we will continue providing updates as soon as more information becomes available.
Our Commitment to You
Our team is actively monitoring the situation, staying in constant communication with Sharetec, and doing everything we can to assist members during this disruption.
We recognize this outage has occurred during an important processing period, including payroll deposits for many members, and we understand the inconvenience this has caused. Please know that restoring service and supporting our members remain our highest priorities.
Thank you for your patience, understanding, and continued trust in LFCU. We will continue to provide updates as new information becomes available.
Sincerely,
LFCU
