ALEXANDRIA, Va.–NCUA is urging credit unions to take advantage of its new cybersecurity testing tool.
The tool, the Automated Cybersecurity Evaluation Toolbox (ACET), is free and can be downloaded via the agency’s website, NCUA said in a Letter to Credit Unions.
According to the agency, ACET was created to help credit unions conduct a maturity assessment that aligns with the Federal Financial Information Council’s (FFIEC) Cybersecurity Assessment Tool. NCUA said the ACET “toolbox” can be used by institutions of all sizes and complexity to determine and measure their information and cybersecurity preparedness against several industry standards and best practices.
In addition, NCUA said ACET includes cybersecurity standards and practices established for financial institutions, including information found in the FFIEC IT Examination Handbooks, regulatory guidance, and leading industry standards like the National Institute of Standards and Technology (NIST) Cybersecurity Framework.
“While we highly encourage the use and implementation of the maturity assessment for a credit union to determine its information and cybersecurity preparedness level, it is only a self-assessment,” wrote NCUA Chairman Todd Harper in the letter. “Credit unions are not required to use the Toolbox or complete the maturity assessment. However, it can provide insight into additional steps a credit union may consider taking to strengthen its overall security posture.”