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CU System
CUNA Mutual launches online risk assessment tool
MADISON, Wis. (1/13/10)--CUNA Mutual Group has introduced a new online risk assessment program for its more than 4,600 credit union Plastic Card insurance policyholders. The tool is designed to assess Plastic Card program risks and indicate whether a credit union’s program is in a good, fair, or cautionary state of security. “A credit union’s operations could be severely impacted if its card portfolio or plastic card program were fraudulently attacked, especially if it resulted in uninsured losses,” said Becky Severson, CUNA Mutual risk manager. “That’s why we felt it was critical for CUNA Mutual to help credit unions identify their plastic card program vulnerabilities and recommend actions based on risk exposure and insurance considerations.” The Plastic Card Risk Assessment functionality contains 24 multiple-choice questions that can be completed in less than 20 minutes. The credit union receives recommendations based on their responses. This is the second online risk assessment module offered by CUNA Mutual’s Credit Union Protection division. It joins the Disaster Preparedness assessment tool launched in 2009. That program allows credit unions to review their vulnerabilities to disasters and take recommended action based on risks, loss controls and credit union best practices. More online risk assessment modules will be added and announced during 2010, said CUNA Mutual. For more information, use the link.
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