Elliott Frantz, founder and CEO of Virtue Security, is devoted to application security—the use of software, hardware, and procedural methods to protect applications from external threats. These threats cost credit unions not only millions of dollars if hackers make their way into the systems, because websites crash and members are unable to access their accounts. In the end, credit unions lose the trust of their members.

In 2014, The National Credit Union Administration Board approved a rule to provide greater security for the credit union system by requiring capital planning and stress testing for credit unions with assets greater than $10 billion.

"NCUA has spent five years building a stronger regulatory framework, based on the hard lessons learned during the financial crisis," NCUA Board Chairman Debbie Matz said in a statement. "This final rule on capital planning and stress testing is designed to protect the system against a future crisis. Federally insured credit unions with assets of at least $10 billion, by virtue of their sheer size, pose the largest potential risk to the Share Insurance Fund. This rule requires that in advance of a worst-case scenario, the largest credit unions will be prepared to increase their capital buffers in order to protect the Share Insurance Fund."