Why Credit Unions Need to Improve Their Cybersecurity

This advisory describes the elevated cyber risk profile for credit unions, highlighting six core challenges — outdated technology, a strained security workforce, incident response and regulatory reporting burdens, cyber insurance requirements, ransomware risk (including a Dec 2023 series of attacks leveraging a known vulnerability that impacted 60+ credit unions), and supply-chain exposures — and recommends holistic operational controls such as 24×7 monitoring, access controls, and improved incident response to reduce impact.