ARLINGTON, Va.—Credit union leaders’ outlook on the economy and the future of their organization dropped in November, according to NAFCU’s latest Credit Union Sentiment Index (CUSI).
NAFCU reported the largest month-over-month decrease was in the growth index, which “likely reflects respondents’ assessment of lending conditions.”
The earnings and lending indexes both dropped, while the regulation index rose from last month.
Separately, NAFCU's latest Economic & CU Monitor addressed credit unions’ perspectives on cybersecurity, including the NCUA’s cyber examination refresh – now called the Information Security Examination (ISE) program.
The Monitor revealed cybersecurity accounted for 22.5% of credit unions’ overall examinations, and 72% of respondents expect their cybersecurity budgets to grow in the next 12 months.
Most Have Yet to Encounter Exam
Regarding the new ISE program, 69% of survey respondents said “they had not encountered the new exam yet.” Of those who have encountered it, 80% said that the ISE was “appropriately targeted to their credit union’s risk profile.”
“The NCUA has indicated that credit unions who have completed the voluntary Automated Cybersecurity Examination Toolbox (ACET) shouldn’t encounter surprises when undergoing an ISE,” NAFCU noted.
Just in Time for the Holidays, CUToday’s Free Morning Headline Email is Now Double-Free!
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.