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CUNA Research Reports

CU Snapshot

 Aug '17Jul '17
# of CUs5,708 5,893
Members
(millions)
112.7112.2
Total Assets
($ billions)
$1,372.1$1,383.7
Total Savings
($ billions)
$1,158.6$1,165
Net Cap.
Assets
10.8%10.7%
Loans to Savings82.3%81.5%
Loan Delinq.0.8%0.7%

         Credit Union Indicators

Five Cybersecurity Tips for CUs

Prepare your CU for the current security landscape.

High-profile data breaches seem to be in the headlines more than ever.

Incidents involving Ashley Madison and the U.S. Office of Personnel Management popped up recently, while Home Depot, TJ Maxx, Neiman Marcus, and Michaels made headlines last year.

Credit unions need to pay attention to the cybersecurity landscape.

At the CUNA/National Association of State Credit Union Supervisors Cybersecurity Symposium, Tom Schauer, CEO of Trust CC, recommended five key actions for credit unions:

1. Ensure breaches can be detected;

2. Create a proper incident response plan;

3. Address high and medium-high deficiencies;

4. Regularly ask: "How would I steal money from this credit union?" and "If I wanted to negatively affect the reputation of this credit union, how would I do it—and what can prevent this type of attack?"; and

5. Recruit information technology talent to the board to provide guidance and oversight.

(Via news.cuna.org)