Cybersecurity and Trust in Credit Unions: Differentiating Through Digital Protection

Credit unions have built their reputation as trusted financial institutions, offering personalized, community-oriented service for their members. But in an increasingly digital-first world, trust is no longer just about relationships; it’s about security. With cyber threats on the rise, safeguarding members from identity theft and fraud has become more critical than ever.

The Growing Cybersecurity Concern

Cybercrime is now a daily threat to consumers, with identity theft, scams, and online fraud hitting record highs. Alarmingly, Americans reported over $12 billion in fraud losses in 2024, a nearly $2 billion increase from the previous year. Of these losses, over $5 billion stemmed from investment scams, further amplifying the issues members face.

For credit union members, the risks are personal. A staggering 90% express significant concern about the impacts of identity theft on their families, yet, according to a survey, less than half of members perceive credit unions as more secure than traditional banks. This presents both a challenge and an opportunity for credit unions to evolve and enhance their security approach.

Bridging the Security Trust Gap

Trust in credit union security differs significantly across age groups and demographics. For example, younger adults (ages 35–44) are the most trusting, with 59% viewing credit unions as more secure than banks. However, this figure drops to 37% among members aged 55 or older. Families with young children and individuals with higher household incomes are particularly vulnerable to cyber threats, increasing the urgency for proactive security measures.

To meet these varied concerns, credit unions must adopt a dual approach:

• Strengthen member confidence: Regularly communicate your institution’s security protocols to keep members informed and reassured.
• Offer robust cybersecurity solutions: Provide tools and technologies that actively protect members from online threats, including identity theft and digital scams.

Cybersecurity as a Differentiator

The modern credit union can no longer rely solely on competitive rates and personalized service. Cybersecurity must be part of the value proposition. Members are increasingly expecting institutions to protect not only their finances but also their digital identities. Research indicates that 76% of credit union members would have a more favorable impression of their institution if identity theft protection were offered as a benefit.

Cybersecurity solutions can make credit unions stand out by:

• Demonstrating a proactive commitment to member protection.
• Improving member retention through value-added services.
• Reducing the time and resources spent managing fraud incidents.

How DigitalFI Empowers Credit Unions

Partnering with trusted cybersecurity providers, such as DigitalFI , enables credit unions to meet these growing demands. DigitalFI's advanced identity protection solutions are tailored to safeguard credit union members while supporting the institution’s goals.

Key benefits of DigitalFI for Credit Union Members:

• Monitoring and Alerts: Real-time alerts for suspicious activity, including personal information, credit accounts, and more.
• Fraud Protection: Insurance coverage of up to $5 million* for eligible identity theft-related losses.
• Proactive Scam Defense: Enhanced tools, including spam call blocking and scam prevention, to protect against phishing attempts.
• Dedicated Support: Access to 24/7 U.S.-based support and fraud remediation experts, ensuring members receive immediate assistance when issues arise.

Key benefits for Credit Unions:

• Build Loyalty: Offer a compelling member benefit to attract and retain customers.
• Empower Members: Educate members on digital risks, helping them avoid scams.
• Reduce Fraud Risk: By protecting members, you also mitigate fraud-related risks for your institution.
• Time Savings: Aura handles identity theft incidents, thereby reducing operational strain on your team.

Building a More Secure Future

The financial landscape is constantly evolving, and credit unions must adapt to it accordingly. By integrating cybersecurity as a core member benefit, credit unions can turn a growing challenge into a competitive advantage. Protection doesn’t just drive peace of mind; it strengthens trust, enhances member satisfaction, and ensures long-term success.

Take Action Today

Is your credit union ready to enhance member protection? Partner with DigitalFI and offer your members industry-leading cybersecurity tools. Together, we can safeguard what matters most.

Contact us to learn more!

info@digitalfi.com

(844)226-9300