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Why Cybersecurity is the Next Big Value-Add for Credit Unions
David Seifert, VP, Digital Security Solutions Consulting as Aura, [email protected]
Credit unions have long been trusted financial partners, offering a community-driven approach to banking that builds strong relationships with members. Trust is increasingly linked to security in today’s digital-first world, yet it’s undermined by the rising tide of online crime year after year.
In 2024, Americans reported losing over $12 billion to fraud—an increase of over $2 billion from 2023. More than $5 billion of reported losses were due to investment-related scams. With cyber threats on the rise, credit unions have an opportunity to differentiate themselves by proactively protecting their members’ financial and digital well-being.
The Growing Cybersecurity Concern Among Credit Union Members
Cybercrime has become a daily reality for consumers. Identity theft, scams, and online fraud are at record highs, and credit union members are feeling the pressure. A striking 90% of members express significant concern about the impact of identity theft on themselves or their families.
Despite the credit union industry’s reputation for personalized service and member advocacy, security remains a critical pain point. And it’s no surprise—cybercriminals are growing more sophisticated by the day, evolving their tactics alongside advancements in artificial intelligence and technology. Members recognize that identity theft, fraud, and scams can devastate their credit, assets, and families.
As of today, less than half of credit union members believe their institution is more secure than a traditionalbank.[1] This presents both a challenge and an opportunity—credit unions must actively reinforce trust by demonstrating a clear, proactive commitment to security.
[1] According to a Harris Poll survey was conducted online within the United States on behalf of Aura from February 28 - March 4, 2025 among 2,092 adults ages 18 and older, among whom 675 bank with a credit union.The sampling precision of Harris online polls is measured by using a Bayesian credible interval.For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level.
Who Falls Into the Security Trust Gap?
Not all members view security the same way. Families with children under 18 are slightly more confident, with 51% believing credit unions are more secure than banks, while 32% remain neutral. Younger adults (ages 35-44) are the most trusting, with 59% seeing credit unions as more secure—compared to just 37% of members aged 55+.[1]
This generational trust gap highlights the need for credit unions to implement visible, proactive security measures that resonate across age groups. For older members, clear and consistent communication about security protocols is key to rebuilding trust. For younger and middle-aged members, offering digital tools that enhance cybersecurity protection can drive long-term loyalty.
Beyond generational differences, financial standing also plays a role. Higher-income households ($100K+) and homeowners make up a significant portion of credit union members—39% and 37%, respectively.[1] With more financial assets and long-term commitments, these members are particularly vulnerable to cyber threats. Strengthening cybersecurity protections isn’t just a benefit, it’s a necessity for credit unions to provide peace of mind to those with more to lose.
The Path Forward: A Cybersecure Future for Credit Unions
The modern credit union must go beyond traditional financial services to stay competitive. Offering cybersecurity protection isn’t just an added benefit, it’s becoming a necessity. By integrating cybersecurity solutions, credit unions can transform security from a concern into a key differentiator, reinforcing trust, attracting security-conscious members, and strengthening long-term relationships.
At Aura, we specialize in proactive online safety solutions designed for individuals and families at every stage of life. Our real-time monitoring and alert system detects and mitigates emerging threats, including identity theft, scams, and fraud—challenges that directly impact credit union members. By partnering with Aura, credit unions can:
● Differentiate their services by offering members a comprehensive cybersecurity solution alongside traditional banking products.
● Rebuild trust and confidence by proactively addressing identity theft concerns.
● Enhance member retention and engagement by offering an added layer of digital protection that meets the evolving needs of families,
homeowners, and high-net-worth individuals–or any individual simply seeking to know they’re banking securely.
When issues arise, Aura provides robust protection. Each membership includes up to $5 million in identity theft insurance*, covering wage losses, legal fees, and accounting costs. Round-the-clock U.S.-based customer support is available 365 days a year, with a dedicated fraud remediation team on standby.
The process begins with immediate triage—accounts are re-secured with new passwords, compromised credit files are frozen, fraudulent charges are disputed (often through three-way calls with Aura agents), and fake accounts are closed. A personalized plan for identity restoration and credit rebuilding follows, along with ongoing monitoring to ensure continued protection.
Our world is only growing increasingly complex, thanks to technology. Let’s work together to build a safer financial future for credit union members—because trust, security, and peace of mind should be at the core of every banking experience.
To learn more, visit aura.com/credit-unions.
[1] Results based on a 2024 survey conducted by Aura of United States adult banking customers.
[2] According to a Harris Poll survey was conducted online within the United States on behalf of Aura from February 28 - March 4, 2025 among 2,092 adults ages 18 and older, among whom 675 bank with a credit union.The sampling precision of Harris online polls is measured by using a Bayesian credible interval.For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level.
[3] According to a Harris Poll survey was conducted online within the United States on behalf of Aura from February 28 - March 4, 2025 among 2,092 adults ages 18 and older, among whom 675 bank with a credit union.The sampling precision of Harris online polls is measured by using a Bayesian credible interval.For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level.
[4] According to a Harris Poll survey was conducted online within the United States on behalf of Aura from February 28 - March 4, 2025 among 2,092 adults ages 18 and older, among whom 675 bank with a credit union.The sampling precision of Harris online polls is measured by using a Bayesian credible interval.For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level.
*The Identity Theft Insurance is underwritten and administered by American Bankers Insurance Company of Florida, an Assurant company. Please refer to the actual policies for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions. Review the Summary of Benefits.