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Deep Dive: Credit Unions Work To Keep Members’ Data Private

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Failing to prevent a data breach is a surefire way to lose that trust, however. Credit unions possess vast troves of personal information such as credit card data and Social Security numbers that could devastate members if leaked. Data Breaches Within And Without. Credit unions are no strangers to data breaches.

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Credit Unions Doing Cyber-Battle

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The February 2020 The Credit Union Tracker ® notes that many CUs already utilize the Automated Cybersecurity Examination Tool provided by the National Credit Union Administration ( NCUA ). But legal loopholes to compliance aside, the CU community is firmly behind data privacy and security measures, as detailed in the full report.

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NEW INSIGHT: Turning Savings-Conscious Students Into Lifetime CU Members

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Legislators are considering writing stricter protections after a year of devastating data breaches, and many CUs are leaping for the chance to urge them on. A number of them pushed Congress to pass new laws requiring disclosure of data breaches and codifying punishment for those who allowed the information to become compromised.