Update on National CUAid Effort for Louisiana Flooding
Credit unions raise more than $53,000 nationally through CUAid, including $3,500 from Northwest community, as need continues to grow.
Credit unions raise more than $53,000 nationally through CUAid, including $3,500 from Northwest community, as need continues to grow.
Northwest Credit Union Foundation joins the national effort in contributing funds.
With data breaches becoming an unavoidable feature of the financial landscape, CUNA Mutual Group points out key risk areas for credit unions.
In a new report, CUNA estimated that 7.2 million credit union debit and credit cards were affected nationally, at a cost to credit unions of nearly $60 million.
Updated estimates from the Credit Union National Association now put the cost of responding to the Target data breach at $1.7 million for Northwest credit unions as the average cost per affected card continues to rise. Credit unions’ cost to date nationwide: $30.6 million.
Northwest credit unions have already spent an estimated $1.3 million responding to the massive theft of financial data from Target stores, and the preliminary results of a nationwide survey indicate that those costs could grow substantially if fraud losses mount.
Target now says that the personal information of more than 70 million customers was compromised at its stores during the busy holiday season, making the data breach one of the biggest thefts of its kind in U.S. history.
The National Credit Union Foundation has activated its online disaster relief system to raise money for Colorado credit unions and their members affected by recent flooding, and the Northwest Credit Union Foundation has joined the effort with a $2,500 donation.
Northwest credit unions are responding to a call today from the National Credit Union Administration to help members who may be affected by a federal government shutdown that went into effect at midnight Monday.
In the 24 hours since its online disaster relief system was activated, the NCUF has already raised almost $25,000, including a $7,500 donation from the Northwest Credit Union Foundation, to help credit union people affected by Hurricane Sandy.
Since activating its online disaster relief system CUAid.coop on June 29, the NCUF has already raised more than $25,000 from the credit union community to assist credit union people affected by the wildfires in Colorado.
The NWCUA Convention and Annual Business Meeting includes a Friendraiser and Bottle Auction to support the Foundations.
The Oregon and Washington Foundations gave $7,500 to support relief efforts, and are calling on credit unions to make contributions as well.
In an open letter posted on its website, RSA, the security division of EMC, said it experienced an “extremely sophisticated” attack in which information related to the company’s SecurID two-factor authentication products were stolen.