umbrella over lock protection from ID theft Source: Shutterstock

When many credit unions were figuring out how to protect their institutions and survive during the COVID-19 pandemic of 2020, several credit unions decided to take decisive action to support the members outside of their institutions’ walls. With the pandemic creating a perfect storm of vulnerability for many members, especially older members, it was apparent that everyone was facing an avalanche of attacks.

Some credit unions have boldly stepped up their commitment to help members in this unique and unprecedented time by providing them with services that protect against the tidal wave of identity theft and fraud building around them. Members saw these highly effective and protective services, which were included with their checking accounts for just a nominal monthly fee, as an added value from their credit union. Typically, these new protective services’ retail value was worth at least 10 times more than the account level fee, which resulted in member acceptance rates of over 90% – thus generating non-interest income as well.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.