NCUA and IT security for credit unions
The National Credit Union Administration (NCUA) oversees US federally-insured credit unions. They require credit unions to audit their cybersecurity practices to identify risks and provide evidence of security measures that protect the privacy of their members’ data. These measures include access controls, endpoint protection, and encryption of data while in transit and in storage.
To maintain public confidence, credit unions and their contractors must prevent cyber attacks and protect the security of their members’ information. Following NCUA standards will ensure your credit union-related business fulfills its obligations.
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Components of NCUA’s IT Security Standards
- Prevent unauthorized access by controlling user and device privileges based on their roles and requirements
- Establish administrated password controls and secondary credentials like MFA
- Establish a process for immediately removing unneeded credentials following personnel or system changes
- Regularly review user access privileges
- Limit cyber criminals’ ability to access data during a breach by encrypting it
- Establish clear protocols for encryption-key management, whether cloud based or in house
- Train all stakeholders in data protection best practices
- Engage an ongoing risk assessment process to identify internal and external threats
- Implement comprehensive cybersecurity measures including firewalls, antimalware, and redundant off-site backups
- Monitor to detect actual and attempted intrusions into systems holding members’ data
Adopt NCUA’s IT security standards
with our simple 3-step process:
Gap Assessment
Before your business attempts to implement the NCUA standards, you should identify any issues that could lead you to fail. This important step is called a Gap Assessment, and is designed to determine the “gaps” or holes in your security posture and to show you how to fill them.
Charles IT can identify and address the vulnerabilities in your cybersecurity, so you can apply the NCUA standards and show your clients that you take data security seriously.
Enlist our NCUA Services
Backup and Disaster Recovery
Backup and Disaster Recovery
Dark Web Monitoring
Dark Web Monitoring
Endpoint Encryption
Endpoint Encryption
External Vulnerability Scanning
External Vulnerability Scanning
Multi-Factor Authentication
Multi-Factor Authentication
SIEM
SIEM
Ongoing Data Management
Charles IT can give your business state-of-the-art access control systems, in order to:
- Limit data access to only those whose jobs require it
- Encrypt your data in storage, in use, and during transfer
- Train your staff in data-security best practices
- Provide Security Information and Event Management (SIEM) service
- Scan the dark web to determine if your data has been compromised
What results to expect
Once we start working with clients to adopt the NCUA standards, we’ve seen them enjoy…
- Confidence in passing an NCUA-related audit
- Improved documentation and storage options
- Increased client and staff trust from better personal data management
- Increased client and staff trust from better personal data management
Don't just take our word for it
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