Credit unions depend on their reputation as much as their capital for member growth and development. These days, that reputation is at risk from cyber threats.
The future of financial institutions depends on protecting sensitive information from ever-advancing cyber threats. Great market share and revenue won’t protect a credit union from community backlash in the face of a data breach. To protect their community-centric reputations, credit unions need affordable, yet best-in-class IT security. This is often best provided by local experts who understand a community’s culture and needs.
Further, credit unions need compliance professionals to help, not hinder, business growth. How can credit unions bring business opportunity in the front door and keep it from escaping out the back?
Kentucky-based credit unions should look for an in-state IT compliance partner to protect their organizations and help them grow.
Credit Union IT Security Should Be More than a Cost Center
The credit union isn’t in business to comply with the IT security section of the Bank Secrecy Act (BSA). It exists to maintain and develop revenue within the rules and guidelines of its charter. Its partner in information technology should truly understand that.
Compliance is like brushing your teeth. It’s important, but it’s not why you get up in the morning.
Most people see IT as a two-headed beast, with a compliance head and an operations head. However, the truth is that when IT is done right, it has one mind and body that contributes to bottom-line revenue with three embedded value propositions:
- Information technology should empower new business opportunity, and
- maintain operational efficiency, and
- protect sensitive information.
IT should do all of these things every second of every hour of every day with high competence. Our clients will attest to that value.
Finding the Appropriate Credit Union IT Partner
Technology has progressed to the point of delivering enterprise-grade benefits to smaller scale organizations. Local and regional credit unions can now enjoy superior business performance with excellent IT security.
Most financial institutions find that outsourcing critical operations is the cost-effective way to stick to core competencies. They hire specialists to do their own data processing, just as they hire a firm with armed guards and armored trucks to transport cash.
The credit union’s information technology should receive the same professional treatment. IT is not just the internet connection, computers, software and firewall—it includes those things and many more. It is a complex set of hardware and software components that combine to form an integrated infrastructure and strong foundation for business development.
The Complexity and Criticality of IT Demand Professional Treatment.
Just as a quilt is a whole cloth stitched from discrete elements with vulnerable seams and stitching, so the credit union’s IT is a composite of discrete systems and processes that can introduce vulnerability to the organization and its members.
- The credit union’s firewalls must be carefully managed.
- The communications platform must be stable and resist challenges to its integrity.
- Examiners are very interested in how well the credit union’s IT protects sensitive information and complies with the rigorous BSA/AML internet security compliance policy.
Choosing an IT Partner
- Look for a partner that offers IT solutions that help, not hinder, business growth.
- Ensure your IT partner has a deep bench of trained professionals with many years’ experience.
- Choose a partner that is close enough to feel the same heat of challenge your people feel.
- Read customer reviews and testimonials to ensure quality work and a customer-first mentality.
Choose DC Plus for IT Compliance and Business Efficiency
For help growing and protecting your organization, partner with a managed IT service provider for credit unions like Kentucky-based DC Plus.
DC Plus brings more than 25 years’ experience in solving business challenges for Kentucky institutions. Our dedicated team of highly skilled technicians and system architects help clients protect their business and improve their bottom line. Our managed services for businesses include:
- End-user support.
- Network monitoring.
- Proactive maintenance.
- Security monitoring.
We also offer credit unions best-of-breed, scalable business technology for improved IT operational efficiency as well as compliance with FFIEC-recommended IT security policies and procedures.
To learn more about DC Plus’ commitment to empowering credit unions, visit our
online resource, Managed Services for Credit Unions.