Credit Union Security vs the Staffing Shortage

We’ve heard the rumors. We’ve seen the reports. And we’ve spoken firsthand with enough credit unions to know:

The Great Resignation has hit credit unions, too.

Whatever you call it—the labor shortage, the staffing crisis, the great resignation—credit unions felt the squeeze long before the pandemic. That’s especially true for skilled, senior IT and information security professionals, who typically command large salaries …

Salaries credit unions can rarely afford.

And yet, credit unions are both vulnerable to attacks and are highly regulated. Often, they offer lower pay for increased responsibility. This makes it virtually impossible for small- and mid-sized credit unions to achieve a robust security posture.

So, what can they do?

 

Leveraging Specialty Credit Union Expertise

Credit unions can often achieve a better security posture by augmenting their in-house team with dedicated specialists.

Case in point: the CUSO Ongoing Operations has helped small- and mid-sized credit unions with numerous IT, planning, security, and operational needs for decades.

Ongoing Operations’ fractional Chief Information Security Officer (CISO) service leverages decades of top-level industry security experience. Their CISO team works with the best solution providers and knowledge groups to ensure that their best practices are constantly and rapidly evolving.

And they work with credit unions of all sizes. In fact, Ongoing Operations works with several of the largest credit unions in the industry ($4b+). So, their CISO team is constantly in touch with what’s happening—and what’s needed—across the country.

Their virtual “CISO-as-a-Service” solves both security and staffing needs.

For a fraction of the price of a full-time CISO, Ongoing Operations’ vCISO handles assessments, reviews, reports, and planning. They’re experienced in working with boards, regulators, and CU staff. And, due to their working relationship with countless credit unions and the NCUA, they’re extremely quick to adapt as threats, regulations, and technology change.

 

Credit Union CISO Fit and Technology

Each credit union is different, though not exactly unique. Memberships, missions, strategies, and more might change from place to place.

And the technologies—from devices and infrastructure to core software and vendor partnerships—are more different still.

Ongoing Operations’ vCISOs work with existing missions, strategies, and technologies to maintain each credit union’s identity. They’ll also recommend new technologies, products, or services to improve your existing security posture.

 

Bringing It Back to Staffing

Normally, we discuss technology, not services. And normally, we don’t take such a promotional tone.

But the labor trends are clear:

The staffing shortage is predicted to continue long into the future. Thus, credit unions must consider how to keep experience and stability in their information security program. Working with a team of highly trained experts is a clear advantage.

We hear about how hard it is to hire tellers right now, let alone C-level infosec talent. As the labor trend continues, we think it makes sense to think strategically about leveraging specialty credit union expertise.

 

Additional Resources

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