On May 18, 2015, the National Credit Union Administration announced the availability of funds for low income designated (LID) credit unions to use toward fraud and cyber security in 2015.
Between June 1 and June 30, each eligible credit union may begin applying for up to $7,500 in NCUA grant money "to assist in developing its fraud prevention and cybersecurity efforts". The purpose of this initiative is to provide funds to assist LID credit unions in protecting the personally identifiable information of members as well as enhancing security.
Some of the projects covered under the initiative include: systems test or risk assessment, systems penetration test, internal and external vulnerability test, social engineering assessment, information systems and/or cyber security training, monitoring cyber security risk exposure, developing or implementing data classification policy, compliance risk assessments, membership to a financial institution cyber security organization, etc.
In response to the NCUA fraud and cyber security grant initiative, CoNetrix president Russ Horn states: "We understand the need for information security in all sizes of financial institutions, which is why we have created affordable solutions that can be scaled to meet the budgets of low-income credit unions."
In order to assist low-income credit unions (LICUs), CoNetrix has created three limited-time, discounted offerings centered on cyber security:
- Option 1: tandem software, including Risk Assessment, Policies, BCP, Vendor Management, and a new Phishing testing and training module;
- Option 2: Penetration Test, Social Engineering Test, Internal Vulnerability Assessment, as well as tandem Risk Assessment and Phishing modules;
- Option 3: Penetration Test, Social Engineering Test, Internal Vulnerability Assessment, as well as tandem Risk Assessment, Policies, BCP, Vendor Management, and new Phishing module.
In addition, CoNetrix is sponsoring several free webinars to provide education about the grant and the special, discounted offerings by CoNetrix. You can learn more about the grant and register for the webinars by going to https://www.conetrix.com/NCUAgrant.