3 minutes
Here are three reasons your CU needs enhanced security in its voting process.
In this digital age, credit union cybersecurity is paramount, and implementing robust measures is a necessity. The financial services industry remains one of the most targeted and hardest-hit by cybercrime in the U.S. and worldwide. With the average cost of a single data breach in the financial sector amounting to $9 million dollars in the U.S. and $6 million dollars per breach globally, you must prioritize cybersecurity in your credit union.
Too often, credit unions feel they are small enough to fly under the radar, assuming additional online security isn’t that important. However, it only takes one mistake to unleash a world of pain on your credit union, its members, and your hard-earned reputation.
Survey & Ballot Systems has over three decades of experience helping thousands of credit unions and member organizations secure and simplify their voting processes. In our extensive experience, we’ve found that credit unions should leverage transport layer security encryption or bank-level security in their day-to-day operations, especially to safeguard election and voter data.
Here are three reasons why you need boosted cybersecurity for your credit union.
1. You Deal With Sensitive Data and Private Materials
As a credit union, you already handle sensitive member information and financial details. Voter and ballot information should be handled just as carefully.
Secure your member database if you work with a third-party election vendor. You should request that the election service provider demonstrate how your data is protected against any possible loss, intrusions, or breaches of confidentiality. Insist on top-level web hosting, encryption technology, and constant monitoring and auditing.
Elections often include physical data and electronic information. Be sure you feel comfortable with the checks and balances provided, including check-ins, daily or delivered counts, and locked storage vaults.
2. You Need to Ensure Safety and Security During Voting
Your credit union members count on you to ensure your election software and processes are reliable, accurate, and secure. When members cast their votes, they must feel satisfied that the platform is safe to use and that you’re safeguarding their information from cybercriminals.
For peace of mind, only partner with reputable election vendors that implement impenetrable security measures during your elections.
SBS leverages robust security measures, TLS encryption, and protection against malware. Our solutions exclusively allow authorized access with unique login credentials that ensure only eligible members can vote once per election.
3. You Must Track How Information Is Handled and Stored
As you know, your credit union is not the only entity handling sensitive member information. Follow the trail of data and anyone who uses it—including vendors, partners, members, and employees. Confirm that their data handling and privacy practices are robust and match industry best practices.
Any outside organization with access to your credit union member information should produce a SOC 2 report for your review. The Association of International Certified Professionals (AICPA) developed SOC 2 technical audits to ensure providers follow the strictest policies and procedures for confidentiality, integrity, and security. SBS adheres to SOC 2, giving you peace of mind that voting data is safe.
Tracking and monitoring how you and your providers handle election data helps with compliance reporting and alignment with legislative requirements.
Since 1990, SBS has been helping credit unions and other member organizations hold secure elections. We will help prevent data breaches and ensure the validity of your elections with our industry-leading security features.
Contact us online to learn more about our services and help boost your election cybersecurity.
Tony Hoff is marketing director for Survey & Ballot Systems. Since joining SBS in 2011, Tony has led company communications, branding, and product launches, maintaining SBS as the go-to for governance solutions. He regularly hosts educational webinars and speaks at national trade association events across the United States. Tony’s expertise has earned him media recognition, with features in outlets like Rural Electric Magazine, The Association Adviser podcast, Associations Now, and NBC’s King 5 Mornings in Seattle.
