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• Service provider reporting
Credit union service providers should advise the credit union of how and when the credit union
will be notified if the credit union member information is jeopardized. Twenty-four hours is the ‘ideal’
period of being notified; however, NCUA does not require this since the service provider may have to research
the incident. Even though the service provider may have been at fault for member information being jeopardized,
it is still the credit union’s responsibility to notify the proper contacts such as NCUA, law enforcement,
members, etc.
• Computer forensics & corrective measures
The credit union should undertake every measure to secure member accounts and notify members
upon compromise of information. NCUA does not require the accounts to be flagged or secured with this level
of detail; however, they will expect it where appropriate in order to give credit unions flexibility to choose
the most effective solutions to the problem. The decision to flag the account, the nature of the flag, and the
duration of the flag should be left at the discretion of the credit union.
A credit union that implements these measures will have a proactive detection and response
strategy in place that will enhance and aid their existing risk-based information security policy and program
as required by NCUA Regulation 748. In addition, such institutions can rest assured that, while information
compromise cannot be prevented, the damage associated with such compromise events can be minimized through these
measures. This can make all the difference between preserving the reputation of the credit union and losing
members to other financial institutions due to a lack of confidence that their information is not safe
CU Financial Counselor Self-Study Program
A new program that allows credit union professionals to earn their financial counseling
certification in
a self-study format is now available from CUNA.
The new, two-part Credit Union Financial Counseling Certification Program (CU FiCEP) consists
of
four learning modules each:
CU FiCEP Part I Modules:
• Module 1: Introduction
to Financial Counseling
• Module 2: Financial Counseling Essentials
• Module 3: Special
Issues in Financial Counseling
• Module 4: Using Communication Skills During Financial Counseling |
CU FiCEP Part II Modules:
• Module 1: Taxes, Insurance, and Investments
• Module 2: Matching Lifestyle to Income
• Module 3: Matching Values to Money
•
Module 4: Retirement Planning |
Upon successful exam completions, participants will become Credit Union Certified Financial
Counselors. Part I is currently available, and Part II will become available in the fall of 2007. Each part
may be purchased as a kit or individually by module. For more information, visit http://training.cuna.org
and select the "Self-Study Certificate Programs" link or call (800) 356-9655, ext. 4249.
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