Cyberattacks on credit unions? There is no ‘if,’ just ‘when.’ Credit unions reported 539 cyber incidents to NCUA between May 2024 and April 2025, including ransomware attacks, business email compromises, phishing attacks and third-party service provider breaches. The financial services sector remains a prime target; attackers go where the money is, targeting industries most likely to meet ransom demands and those where disruption is greatest.
When a cyberattack hits your credit union, every minute counts. Member access might be disrupted. Systems central to your credit union’s functioning could be compromised. Regular operations can grind to a halt. In these critical moments, many credit unions don't realize they have a resource ready to help: their corporate credit union.
Operational Continuity
The priority during a cyberattack is maintaining basic member services. When you’re locked down by ransomware or your digital banking platform is compromised, members still need access to their funds. They still need to pay bills, make deposits and conduct daily transactions.
Your corporate credit union can provide immediate operational support through essential services that keep your credit union functioning while IT teams work to restore compromised systems.
- Coin and currency services ensure branches can continue serving walk-in members with cash transactions.
- ACH processing capabilities allow you to continue handling direct deposits, bill payments and automated transfers even when your primary systems are offline.
- Wire transfer services maintain your ability to process time-sensitive member transactions and business payments.
The critical advantage: you don't need to negotiate lengthy contracts or navigate complicated onboarding processes with LaCorp. We can set you up quickly with month-to-month arrangements, providing exactly the services you need for as long as you need them. When you're dealing with a cyber crisis, the last thing you need is bureaucratic delays or long-term commitments.
Why Corporate Partnership Matters During Crises
Recent incidents illustrate why having established corporate relationships matters. In August 2025, a ransomware attack on Marquis Software, which serves more than 700 banks and credit unions, exposed the personal and financial information of approximately 788,000 customers. When third-party systems fail, credit unions need immediate alternatives.
Similarly, Georgia Heritage Federal Credit Union experienced a ransomware attack in January 2025, affecting more than 43,000 individuals. Alaska Air Group Federal Credit Union faced a third-party cybersecurity incident, exposing information of more than 10,000 members. These aren't isolated incidents; they represent the ongoing reality of operating in an increasingly hostile cyber environment.
Credit unions with strong corporate relationships can pivot quickly when primary systems fail. Those without such relationships scramble to find alternatives while members grow increasingly frustrated and concerned about their accounts.
Preparation Matters
The time to establish a corporate credit union relationship isn't during a crisis—it's before one hits. Understanding what services are available, how quickly they can be activated and who to contact when disaster strikes make the difference between controlled crisis management and chaotic emergency response.
If your credit union does not have a cyber insurance policy, we strongly recommend you explore this option. If you don’t have a separate cyber policy, you may be surprised to learn in an emergency that your basic business and liability coverages are very limited in this area.
One great advantage of cyber policies is that they generally offer a hotline you can use during an incident to help you coordinate all aspects of your response. Many of our credit union members have told us that this aspect of the coverage is well worth the premium. If you’re not already covered, we’d highly recommend that you contact your surety bond and business package carrier to see if they offer cyber coverage.
For our part, LaCorp will make it a priority to quickly execute your instructions and work with you and your insurance carrier to help mitigate damage. At your instruction, we will change your system access passwords immediately. We will also make it a priority to get you up and running if you need a contingency source for wires, ACH and coin and currency delivery.
This doesn't mean every credit union needs active accounts for every service. It means knowing what's possible, understanding activation timelines and establishing contacts who can move quickly when needed. Since we’ve done this many times in the past, we can often suggest areas to address that you may have overlooked in your initial assessment.
We are always happy to help you review how we can support you with contingency services in the event of a cyber-incident. The best time to do that is always before an actual incident. An ideal way to address your planning is to conduct a test of using backup funds transfer or credit services during your annual contingency test. Think of it like your credit union's business continuity plan. You don't wait until the hurricane makes landfall to figure out your disaster recovery procedures. You plan, establish relationships and know exactly who to call when a crisis strikes.
Moving Forward
Cybersecurity will remain a critical challenge for credit unions regardless of size or sophistication. The threats continue to evolve with the help of AI; attackers grow more sophisticated, and the financial incentives driving these attacks aren't disappearing. Credit unions can invest in better security, train staff more thoroughly and implement stronger controls—and they should do all these things.
But even the best security eventually encounters a determined hacker. When that happens, having a corporate credit union partner who can supplement your recovery plan with quick execution, contingency services, and knowledgeable guidance can make the difference between a manageable crisis and an existential threat.
At LaCorp, we're here to support credit unions, with priority execution and alternative sources of services and credit or guidance on navigating the complex aftermath of a breach. We understand what credit unions face and how to help.
The question isn't whether your credit union will face a cyber incident. The question is whether you'll have the partnerships in place to respond effectively when it happens.
To discuss how LaCorp can assist in cyber incident preparedness or to learn more about our services, contact President/CEO David Savoie or VP-Operations Erin Byrd at (504) 838-8250, david@lacorp.com or erinb@lacorp.com.