reported data breach Image: Shutterstock

The NCUA has approved new cyber incident reporting requirements for credit unions. Under the final rule, federally insured credit unions will be required to notify the NCUA of a “reportable cyber incident” within 72 hours of such an event. The NCUA’s final rule follows the 36-hour notification requirement implemented for banking organizations last year. While the final rule doubles the reporting time for credit unions, it also could require credit unions to notify the NCUA of a significantly broader set of incidents than required for banking organizations. The final rule continues the trend of regulators increasing their focus on the cybersecurity safeguards among financial institutions and, in particular, of requiring faster notifications when incidents occur.

The final rule will go into effect on Sept. 1, 2023. Here, we’ll provide a primer about the rule and proactive steps credit unions should be taking in anticipation of these new reporting requirements.

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?


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.