May 13, 2021

NCUA set to host webinars on cybersecurity, CDFI small-dollar loans

NCUAThe NCUA announced it is partnering with the Cybersecurity and Infrastructure Security Agency (CISA) and the Community Development Financial Institutions (CDFI) Fund to host webinars later this month on cybersecurity and small-dollar lending, respectively.

Wednesday, May 26, the NCUA and CISA will hold "Critical Security Controls and Cyber Hygiene" at 2 p.m. Eastern. Representatives from the agencies will discuss best practices to:

  • identify risks to products, services, and assets;
  • monitor the security of networks;
  • manage third-party cyber risks;
  • implement controls to protect, and, if necessary, recover data; and
  • monitor and protect against malware attacks.

Registration is available here and questions can be submitted in advance via email.

Thursday, May 27, representatives from the NCUA and CDFI Fund will explain the fund's small-dollar loan program, including eligibility and permissible use of these funds. Additional information can also be found on the program's webpage.

The CDFI Fund anticipates up to $13.5 million being available to eligible institutions through the small-dollar loan program in 2021. Credit unions that are not designated CDFIs may still be eligible for the program through partnerships with CDFIs or other federally-insured depository institution whose primary mission is serving targeted investment areas.

Registration for the CDFI webinar – also set to begin at 2 p.m. Eastern – is available here and questions can be submitted in advance.

Earlier this week, the NCUA announced that it is hosting a webinar Monday, May 24, with other federal financial regulators on the Treasury Department's Emergency Capital Investment Program (ECIP). Learn more about the webinar here.