NCUA Releases Automated Cybersecurity Evaluation Toolbox

On December 15, 2021, the National Credit Union Administration (NCUA) announced the release of the Automated Cybersecurity Evaluation Toolbox (Toolbox) application as available for download by federally insured credit unions.

Toolbox is contained in a free software “developed to be a holistic cybersecurity resource for credit unions” and is designed to assist “institutions of all sizes and complexity to determine and measure their information and cybersecurity preparedness against several industry standards and best practices.” Ideally, this tool will assist institutions in “enhancing their cybersecurity oversight and management.”

Toolbox is only a self-assessment tool and is not mandatory. Institutions that utilize Toolbox will be able to use the results reviewing and enhancing their cybersecurity policies and procedures.

Kennedy Sutherland can assist your institution in utilizing the tool and in reviewing your policies and procedures as compared against your results. If you have any questions or concerns about how this tool could impact or enhance your institution, please contact Kennedy Sutherland.