Updates on the Widespread System Outage - over 280 Credit Unions Impacted Nationwide
FOR IMMEDIATE RELEASE
City of Firsts Community Federal Credit Union Announces Restoration
of Banking Services Following Widespread System Outage
Kokomo, Indiana – September 23, 2026 — City of Firsts Community Federal Credit Union (COFFCU) announced on Monday that access to its banking system and electronic banking services has been restored following a significant system outage that began on September 15th.
The outage originated from a major equipment failure at the credit union’s banking system provider’s main data center, Sharetec. The incident affected over 280 credit unions nationwide using the same banking system and was not isolated to COFFCU.
Sharetec has assured us that the outage was not the result of a data breach and our member’s information has not been compromised because of this incident. They will provide a comprehensive report on the incident, including an explanation of why the redundant cooling system did not activate as expected. [To read more about the incident, see the links at the end of the release ]
“We understand that this outage has affected our members in very real and personal ways,” said Felicia Cox, CEO of City of Firsts Community Federal Credit Union. “Our members depend on us to have access to their money, to know their payments have been received, and to have confidence that the information they see in their accounts is accurate. We understand how frustrating and unsettling the past several days have been, and we are truly sorry for the inconvenience and uncertainty this situation has caused.”
“Our employees have worked extremely hard throughout this outage and continue to work diligently to reconcile accounts and correct discrepancies. While the system failure itself was outside of our control, our commitment to our members is not. We will continue working until the remaining issues are resolved.”
Rest assured, banking services have been restored. As of 9:33 a.m. on September 21st , COFFCU branch staff have regained access to the Sharetec banking system, and the credit union is no longer processing transactions offline. Members can now access branch services, their online and mobile banking, the Automated Response Teller (ART) and utilize their ATM/Debit cards.
The credit union is reviewing financial reports and manually correcting discrepancies as it identifies them. As part of COFFCU’s commitment to its members during this disruption, we are waiving transaction fees incurred during the timeframe of the outage from September 12th to October 31, 2026.
COFFCU also expressed its appreciation to members for their patience, understanding, and continued trust throughout the disruption. “Our members are the reason we are here,” Cox said. “We do not take their trust or their business for granted. We are grateful for their patience and for allowing our team the time needed to complete this recovery process carefully and accurately. ”
About COFFCU | City of Firsts Community Federal Credit Union is a member-owned financial cooperative serving its members in Howard and Tipton Counties since 1938. COFFCU is committed to providing personal financial services, convenient banking solutions, and strong member-focused experience. The National Credit Union Administration (NCUA) regulates, and charters federal credit unions and the National Credit Union Share Insurance Fund (NCUSIF), insures member deposits which is backed by the U.S. government.
Media and Member Contact:
City of Firsts Community Federal Credit Union
Kokomo, Indiana
https://www.coffcu.org/
(765) 459-0758 | info@coffcu.org
LINKS TO COVERAGE
https://www.cutoday.info/Fresh-Today/Sharetec-Systems-Coming-Back-Online-But-Cleanup-Continue
https://www.wafb.com/2026/09/18/outage-forces-credit-union-close/
https://www.koat.com/article/data-center-failure-affects-new-mexico-credit-union-services/73795685
https://thecudaily.com/sharetec-outage/