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About
About
Created by the U.S. Congress in 1970, the National Credit Union Administration is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.
Regulation & Supervision
Regulation & Supervision
The NCUA protects the safety and soundness of the credit union system by identifying, monitoring and reducing risks to the National Credit Union Share Insurance Fund. Backed by the full faith and credit of the United States, the Share Insurance Fund provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.
Analysis
Analysis
The NCUA’s economists and analysts compile data on the credit union system’s financial performance, merger activity, changes in credit union chartering and fields of membership, as well as broader economic trends affecting credit unions. Users can find information on a single credit union or analyze broader nation-wide trends.
Support Services
Support Services
The NCUA provides a number of support services to the credit union system, such as providing training, grants and loans, chartering, and field-of-membership services; maintaining the health and stability of Share Insurance Fund; managing the assets of failed credit unions; and providing emergency liquidity.
Consumers
Consumers
The NCUA works to protect credit union members and consumers, raise awareness of potential frauds, facilitate access to affordable financial services, and educate consumers on the importance of savings and how they can improve their financial well-being.
News
News
Stay up to date on the NCUA's activities by subscribing to the NCUA's Express messages. Read press releases, speeches, testimony, and Annual Reports. Register for upcoming conferences and events.
Cybersecurity Resources
Cybersecurity Resources
Cyberattacks and cybersecurity vulnerabilities pose significant risks to the financial system. Because of vulnerabilities within the credit union industry and the broader financial system to potential cyberattacks, cybersecurity is one of the NCUA’s top supervisory priorities and a top-tier risk under the agency’s enterprise risk-management program.

Information Processing Issues

89-CU-109 / September 1989

Information Processing Issues

To

Board of Directors of the Federally Insured Credit Union Addressed

Subject

Cybersecurity

Status

Active

To

Board of Directors of the Federally Insured Credit Union Addressed

Subj

Information Processing Issues

Encl

Joint Interagency Issuance on End-User Computing Risks

INFORMATION PROCESSING ISSUES

For your reference I am enclosing papers from the Federal Financial Institutions Examination Council (FFIEC) which outline issues and risks associated with certain computer operations.

Credit unions will continue to benefit from "distributed" processing systems if proper controls are set up, as suggested in one of the papers. Likewise, large-scale integrated systems (LSIS) are becoming more common and also require proper controls, as indicated in another paper.

Guidelines for contingency planning are also included here. Each board of directors should ensure that a comprehensive contingency plan is put in place and tested regularly. Because such planning has become crucial to credit union operations, contingency plans and test results will be reviewed and evaluated during future supervisory examinations.

For the National Credit Union Administration Board,

ROGER W. JEPSEN

Chairman

Enclosures

Joint Interagency Issuance on End-User Computing Risks

Last modified on

11/14/24