While members hold your credit union to high standards, they also understand that cyberattacks are a threat. But if your credit union is hit by one, have you considered what it could do to your reputation?

A first-of-its-kind study released during Cybersecurity Awareness Month in October examined the effects of cyberattacks on corporate reputation and consumer confidence. The study, conducted in September 2019, surveyed 562 adults in Oregon. Key results, released from ReputationUs (RepUs), a firm specializing in reputation management and cybersecurity preparations, and DHM Research are highlighted in the chart above.

First, the alarming news: The vast majority of survey participants – 73% – indicated that they have had their personal information compromised. But the good news is that consumers have the upmost confidence in the ability of credit unions and banks to protect their private information. A noteworthy 84% of respondents put these types of financial institutions at the top of their consumer confidence for all industries surveyed.