With the one-year anniversary of the Equifax data breach upon us, which affected over 147 million American adults, there is an ever-increasing need for Americans to be on guard for the effects of this breach and so many others like it (including Uber, Sonic and UnderArmor). Credit unions have a golden opportunity to show their existing and potential new members that they recognize the growing risks facing their members far outside the walls of the credit union itself.

A recent study conducted by a team of researchers at the University of Michigan's School of Information showed consumers (your members) have exhibited an optimism bias that has led to a significant degree of complacency or total lack of action in response to the Equifax breach. Whether you call it "putting their heads in the sand," "rolling the dice" or exhibiting the "it hasn't happened to me yet" syndrome, people (members) need to know they're taking enormous risks with this complacent approach. New account and account takeover fraud has increased more than 200% in the U.S. over the past three years, thus magnifying the risks for members as they face more serious ID theft nightmares.