Managing Credit Union Cybersecurity at Small & Medium Size CU's

By Preston Packer |

May

03

In 2017, the National Credit Union Administration developed a tool to help credit unions assess their level of credit union cybersecurity preparedness. Designed for the credit union industry, the Automated Cybersecurity Examination Tool is a great resource to help credit unions to evaluate their preparedness. However, in 2018 the NCUA is using it to review credit unions larger than $1 billion in assets and will be refining the tool to see if it will scale properly for small and medium-size credit unions. With this tool on the map for all credit unions, what should we know now?

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Are Biometrics the Future of Credit Union Security?

By Preston Packer |

Feb

28

With the increased use of mobile banking apps, cybersecurity has quickly come to the forefront as an imperative measure to guard against hacking and fraud. In a recent study, researchers predicted that smartphone subscriptions could hit six billion globally by 2020, and 81% of adults in the U.S. will be using mobile banking. As all of these members transmit their usernames, passwords and account information over the local area WiFi, there is an increasing amount of vulnerability that could lead to their information being compromised.
 
Similarly, online banking has also felt the impact and the need for more robust security measures, as credit unions now offer loan and account applications and a variety of other transactions over the internet, capitalizing on the convenience and ability to reach an account holder at home or on the go.
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