Repo risk alert: is your Credit Union client affected? Editor September 22, 2026 Hundreds of credit unions were hit by the Sharetec outage. How many repo assignments have been affected? A nationwide technology outage affecting credit unions has largely been reported as a story about members unable to access online banking, check balances or conduct normal transactions. For the repossession industry, there may be a much less visible problem: What happened to the repossession assignments that were already out? The September 15 outage followed a cooling-system failure at a third-party data center supporting Sharetec, according to notices posted by affected credit unions. Those numbers should therefore be understood as figures reported by affected credit unions, not a final count confirmed by Sharetec. The hidden risk: who was affected? American Banker has independently identified 23 credit unions in 14 states, representing approximately $2.56 billion in assets and 200,000 members, using certified June 2026 NCUA call-report data. CURepossession's review of credit-union notices and local reporting has identified additional institutions. If the 280-to-300-plus figures being reported by affected credit unions prove accurate, most of the affected institutions have still not been publicly identified. For recovery agencies and forwarders, that creates a simple question: Do you know whether one of your credit-union clients was affected? And if it was, have repo assignments issued before or during the outage been revalidated against reconciled account information? CURepossession has found no evidence that an affected credit union improperly allowed a repossession to proceed. CURepossession also have not found evidence establishing that every affected CU suspended repossessions, outside collections or legal actions. They may have done exactly that internally. CURepossession simply don't know. The account could change while the repo order remained active. The effects of the outage varied considerably among institutions, and credit unions may have handled pending transactions differently. That distinction is important. But several affected CUs publicly acknowledged circumstances directly relevant to collections. Mills42 Federal Credit Union said electronic transactions, including payroll direct deposits, were being held for later posting. Its debit-card processor initially had access only to members' last known balances before the outage. Mills42 also told borrowers that late fees resulting from delayed loan payments would be waived. City of Firsts Community Federal Credit Union similarly reported that electronic transactions were being held for posting and that ATMs were operating using members' last known pre-outage balances. After core access returned, the CU cautioned that it could not yet guarantee that all balances and transaction histories were accurate while transactions were posted, validated and discrepancies reconciled. CAMC Federal Credit Union reported that after receiving limited core access it spent extended hours processing transactions accumulated during the interruption. Everyone's Federal Credit Union CEO Court Watson told local media that direct deposits and ACH transactions were going through but were in a "holding pattern." Everyone's later refunded overdraft fees associated with the disruption and asked vendors not to impose late fees on members because of the outage. These examples do not establish that every affected credit union experienced the same transaction-posting problem. They do establish that, at some institutions, restoring the core did not immediately mean every transaction had been posted and every balance was current. Now put a repo order into that timeline. Imagine an auto loan legitimately assigned for repossession before September 15. The outage begins. During the outage, the borrower makes a payment or an ACH, payroll deduction or other transaction arrives that could affect the delinquency. Depending upon the particular CU's systems and procedures, that activity might not immediately be reflected in the account information available to collections. Meanwhile, the repossession assignment has already left the credit union. It may be sitting with a forwarder, recovery agency or field agent who has no visibility into what is happening inside the lender's core. All the agent knows is that the assignment remains active. That does not mean the resulting repossession would automatically be wrongful. Whether a borrower actually cured a default depends upon the contract, amount and timing of the payment, applicable state law and other facts. But it creates an obvious operational risk. A payment can eventually be reconciled. A vehicle already repossessed cannot simply be un-repossessed. You can't unscramble an egg. Known affected credit unions. The situation remains fluid. This is not represented as a complete list, and inclusion means only that the institution publicly acknowledged the outage or was specifically identified as affected by credible reporting. Q2 2026 asset figures shown below are based on NCUA 5300 call-report data where independently matched. | Credit Union | State | Approx. Assets | Evidence of Outage | | Auburn Community FCU | NY | $126M | CU outage notice | | Badger Globe CU | WI | $52M | CU outage notice | | CAMC FCU | WV | $80M | CU outage notice | | Chicago Fireman's Association CU | IL | - | CU Today report | | City of Firsts Community FCU | IN | $39M | CU outage updates | | Corry FCU | PA | - | CU Today recovery report | | Credit Union For All | IL | - | Illinois reporting | | Everyone's FCU | NM | - | Eastern New Mexico News | | First Choice FCU | PA | - | Butler Eagle | | Genesee Co-op FCU | NY | $48M | CU outage notice | | Iberville FCU | LA | $8.9M | WAFB report | | Illinois State CU | IL | $249M | Illinois reporting | | Municipal Employees CU | OK | - | CU outage notice | | Pompano Beach City Employees CU | FL | $31M | CU Today report | | Slippery Rock University FCU | PA | - | Butler Eagle | | Sterling United FCU | IN | - | CU Today report | | Streator Community CU | IL | $42M | Illinois reporting | | Thrive CU | IN | - | CU outage notice | | Wayne County Community FCU | OH | $54M | CU Today report | | GeoVista CU | GA | $247M | CU Daily reporting | | CGR Credit Union | GA | $120M | CU Daily reporting | | Flagship Community FCU | MI | - | CU Daily reporting | | Fortress FCU | IN | - | CU Daily reporting | | Mills42 FCU | MA | $32M | CU outage notice | | South Texas FCU | TX | - | CU system notice | | Scott & White Employees CU | TX | - | CU updates | | Tippecanoe FCU | IN | - | CU outage notice | | Money FCU | NY | $51M | CU outage notice | Asset figures are rounded. The table is a developing list, not a representation that these are the only affected Sharetec clients. The question repo companies should be asking. There is no evidence presently reviewed by CURepossession that any wrongful repossessions have occurred because of this outage. But that isn't really the warning. The warning is that hundreds of credit unions reportedly experienced a core-processing interruption, while only a small fraction have been publicly identified. For recovery agencies and forwarders with credit-union clients, it may therefore be prudent to ask: Was its client affected by the Sharetec outage? And if the answer is yes: Have the active repossession assignments issued before or during the outage been revalidated after transaction reconciliation? No accusation is necessary. No assumption that an assignment is invalid is necessary. It is simply a recognition that the credit unions themselves have reported delayed transaction posting, pre-outage balances and post-restoration reconciliation. The cost of asking the question is almost nothing. The cost of discovering the answer after the vehicle is already on the hook could be considerably higher. Repo risk alert: is your Credit Union client affected? - repo risk alert: is your Credit Union client affected? - repo risk alert: is your Credit Union client affected?

Sharetec outage stretches into fourth day; Users Conference postponed. 09/20/2026 08:02 am FORT WAYNE, Ind. - The widespread Sharetec outage that has disrupted credit unions around the country stretched into a fourth day Friday, with some institutions still unable to provide normal account access and at least one credit union closing its doors, while Sharetec postponed its annual users conference scheduled to begin Sunday. Sharetec announced on its website that its 2026 Users Conference, scheduled for Sept. 20-23 in Denver, has been postponed. "We understand the disruption this will cause in your travel and plans, but our main priority right now remains our customers," the company said. Sharetec had not posted a broader public statement about the outage on its main website as of Friday afternoon. Restoration was continuing Friday, but the process remained incomplete. First Choice Federal Credit Union in New Castle, Pa., said technical teams had worked continuously for more than 56 hours and approximately 100 credit unions had been brought back online. CEO Michael Vatter told the Butler Eagle he had been informed service should be restored by the end of Friday. Slippery Rock University Federal Credit Union also told members its core systems were expected to be restored Friday. The continuing disruption was still affecting operations elsewhere. WAFB reported that Iberville Federal Credit Union in Plaquemine, La., closed Friday because of the outage. In Indiana, Sterling United Federal Credit Union said most of its services had returned, but online and mobile banking remained unavailable Friday morning. President and CEO Daniel Bullock told the Evansville Courier & Press that overheating and a cooling failure triggered the problem and that the failover did not work properly. Bullock also disclosed that Sterling United had already decided to move to another core provider because of what he described to members as "various performance issues and prior service level weaknesses." The credit union is under contract with another provider but will not convert until April 1, 2027. "Part of the reason for the switch was to prevent outages (like the one we are experiencing) and offer members better products and services," Bullock said. The outage began around midday Tuesday after a cooling-system failure damaged equipment at a data center supporting Sharetec systems. Auburn Community Federal Credit Union, which CUToday.info reported Thursday was among the affected institutions, subsequently said Sharetec's recovery estimate had moved to 18 to 24 hours. Other credit unions have continued to emphasize that Sharetec has characterized the event as a service-availability problem rather than a cyberattack or data breach. Mills42 Federal Credit Union additionally said Sharetec had confirmed no transactional data was lost.

Auburn credit union outage stretches into weekend as teams test systems. * September 19, 2026 4:46 AM * Staff Report Auburn Community Federal Credit Union's banking outage will continue into the weekend as technical teams test and validate systems before restoring full service, the institution said in its latest update. Online and mobile banking remained unavailable as of 6 p.m. Friday. The credit union did not provide a new estimate for when service would return, saying its staff and core banking provider, Sharetec, would work through the weekend. The outage began Sept. 15 after a cooling system failure damaged equipment at the data center supporting Sharetec's systems. The disruption affected multiple credit unions and was not caused by a cyberattack, fraud or unauthorized access, according to Auburn Community FCU. Credit union officials said members' money and personal information remained secure. There was also no indication that direct deposits or other incoming transactions had been lost. Earlier updates projected recovery windows of 12 to 18 hours and later 18 to 24 hours. By Friday evening, however, the credit union said testing and restoration work remained underway without offering a revised completion time. Debit cards can still be used for purchases and ATM withdrawals, although some transactions may be limited while the banking system is unavailable. Members who encounter problems were advised to call the credit union. The institution also said automatic payments and checks would process after the system is restored. Staff have access to direct deposit information and can try to help members obtain cash at a branch, although service remains limited during the outage. The credit union acknowledged criticism from members over the disruption and its communication during the outage. "We hear you and we will do better," the institution said in an update Friday morning, apologizing for the frustration, silence and interruption to members' financial activity. Sharetec and credit union staff are validating systems before bringing them back into operation to protect the accuracy of account balances and transaction records. Additional updates are expected as restoration work progresses. Members with questions can call Auburn Community Federal Credit Union at 315-253-2934. FingerLakes1.com is the region's leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].