ARLINGTON—As credit unions get ready for strategic planning season, NAFCU reminded it offers a variety of resources related to mergers and acquisitions, field of membership (FOM) and more. It is also offering cybersecurity resources in the wake of yet another data breach.
“These resources aim to help credit unions determine the right path of growth and understand the process for these changes,” NAFCU said.
For those interested in learning more about mergers, former NAFCU chair and current CEO of Webster First Federal Credit Union Mike Lussier has written a handbook on what credit unions need to know about the merger process. The book details different types of mergers, picking the right partner, membership considerations and more.
NAFCU also has a webinar now available on-demand on how mergers can be part of a credit union's strategic plan. Access the webinar here.
The association's compliance resources on FOM-related issues are available here. A recent Compliance Blog post answered frequently asked questions on FOM regulations and references the NCUA's FOM manual.
Cybersecurity Resources Are Available
Separately, in the wake of Equifax’s $700-million settlement following its massive data breach, along with recent news of a breach at Capital One, NAFCU is reminding it offers resources to assist CU with cybersecurity.
NAFCU said the resources available include:
- Information on cybersecurity risk exposure and strategies to mitigate risk are available via this webinar.
- Need help with the Automated Cybersecurity Examination Tool (ACET)? The Cybersecurity Exam Prep answers questions.
- Information on an interactive cybersecurity assessment tool, blog posts, articles and webcasts are among these cybersecurity compliance resources.
- Information on how to select the best insurance policy to cover escalating costs of data breaches, ransomware scenarios, and other cyberattacks can be found in this webinar on Cybersecurity Insurance for Credit Unions.
- Available to members, NAFCU offers a Cybersecurity Assessment Tool Workbook.