The Best Password Manager for Credit Unions

Keeper Security is the best password manager to protect credit unions against cyber threats and data breaches.

The Security Risks Credit Unions Are Facing

Credit Unions are Prime Targets for Cybercriminals

Credit unions are lucrative targets for ransomware attacks because they hold vast amounts of valuable data such as tax records, Personally Identifiable Information (PII), financial information, business plans and more.

Credit Unions are Prime Targets for Cybercriminals

Financial services sector was the most breached industry in 2022.

Source

Hybrid Work has Increased Risks

The National Credit Union Administration (NCUA) and similar regulatory agencies relaxed in-office requirements for the credit union industry in the wake of the COVID-19 pandemic, and many firms have maintained a hybrid work model. However, home networks and personal devices may have weaker security measures compared to corporate networks and devices.

This expands the attack surface and increases the difficulty for IT teams tasked with defending multi-cloud, work-from-anywhere environments.

Hybrid Work has Increased Risks

Attacks targeting the financial sector have more than doubled since the global pandemic and the shift to remote work.

Source

Supply Chain Attacks are Frequent and Devastating

Credit unions often rely on third-party software for their operations, such as core banking systems, mobile banking apps and other financial software. If any of these software providers are compromised, it could potentially impact the credit union and its members via a supply chain attack, one of the most common vectors for reported incidents of ransomware in the credit union industry.

Supply Chain Attacks are Frequent and Devastating

Throughout 2022, incidents at third-party vendors accounted for nearly a third of all credit union breaches.

Source

Compliance is Costly and Chaotic

Stringent regulatory frameworks, such as Sarbanes-Oxley (SOX) and Payment Card Industry Data Security Standard (PCI DSS), require specific controls in order to meet compliance and ensure the secure exchange of sensitive information.

Controls related to password and privileged access management can be especially daunting for credit unions with limited cybersecurity staff and budget.

Compliance is Costly and Chaotic

The percentage of banking CISOs that named non-compliance as a primary issue.

Source

Benefits of Using a Password Manager

Generate, Store and Securely Share Passwords and Credentials

Generate, Store and Securely Share Passwords and Credentials

By generating complex, unique passwords and storing them in an encrypted vault, password managers help thwart cyber attacks at the point of entry.

Audit Employee Password Strength and Reuse

Audit Employee Password Strength and Reuse

Generate, store and securely share passwords and credentials. By generating complex, unique passwords and storing them in an encrypted vault, password managers help thwart cyber attacks at the point of entry.

Improve Reporting and Alerts

Improve Reporting and Alerts

Provide IT and compliance teams with visibility and control over user credentials and access.

Reduce Password-Related Help Desk Tickets

Reduce Password-Related Help Desk Tickets

Password managers simplify the login process for end-users, eliminating password reset requests and improving productivity.

How a Password Manager Helps Credit Unions Meet Compliance

Credit unions are required to adhere to strict security compliance policies outlined by regulatory bodies like the NCUA. Here is how a password manager can help meet these requirements:

NCUA Compliance Requirement
Password Manager Feature
Data Protection

Password Policy Enforcement

Enforce the use and secure storage of unique and complex passwords.

Data Security

MFA

Integrate seamlessly with MFA to provide an extra layer of security and prevent unauthorized access, even if a password is compromised.

Data Management

Secure Credential Storage

Securely store sensitive credentials to access everything from member data to financial systems in a safe, encrypted repository.

Auditing Mechanism

Auditing

Log and monitor access and password change activity.

Access controls

Role-Based Access, Rapid Onboarding and Decommissioning

Manage access to various systems centrally by assigning specific permissions to employees based on their role.

Why Keeper Is the Preferred Password Manager for Credit Unions

Zero-Trust and Zero-Knowledge Security Architecture

Keeper uses best-in-class security, with a zero-trust framework and zero-knowledge security architecture that protects user data with multiple layers of encryption keys, ensuring that only the end-user has access to vault data.

SSO Integration

Keeper SSO Connect® is a SAML 2.0 service that seamlessly and quickly integrates with Azure, Okta, Google Workspace and most other SSO providers for full end-to-end password protection and faster deployment.

Strongest Certifications

Keeper is SOC 2 and ISO27001 compliant - with the longest-standing compliance in the industry - as well as FedRAMP and StateRAMP Authorized. Keeper's encryption has been certified by the NIST CMVP and validated to the FIPS 140 standard by accredited third-party laboratories.

Granular Access Controls

Keeper's extensive admin capabilities enable IT teams to assign specific role-based permissions to different teams and users, ensuring that only authorized personnel can access certain credentials.

Two-Factor Authentication (2FA) Codes

Keeper synchronizes and stores 2FA codes within vault records for a seamless login experience.

Privileged Access Management (PAM)

Keeper Password Manager can be consolidated into a unified PAM platform to protect passwords, credentials, secrets and connections to reduce the risk of cyber attacks and defend against internal and external threat vectors.

Privileged Access Management for Credit Unions

Privileged Access Management for Credit Unions

Keeper's next-gen privileged access management platform provides a scalable, easy-to-use and affordable PAM solution.

Every organization needs to secure its passwords, passkeys, credentials, secrets and connections to reduce the risk of cyber attacks and defend against internal and external threat vectors.

KeeperPAM delivers enterprise-grade password, secrets and privileged connection management in one unified platform.

Enterprise Password Manager

Enterprise Password Manager
(EPM)

Enables organizations to securely manage, protect, discover, share and rotate passwords with full control and visibility to simplify auditing and compliance.

Learn More

Keeper Secrets Manager

Keeper Secrets Manager
(KSM)

Delivers a fully-managed, cloud-based solution to secure infrastructure secrets such as API keys, database credentials, access keys and certificates.

Learn More

Keeper Connection Manager

Keeper Connection Manager
(KCM)

Provides an agentless remote desktop gateway for instant privileged session management, remote infrastructure access and secure remote database access to RDP, SSH keys, database and Kubernetes endpoints – no VPN required.

Learn More

Protect Your Passwords and Achieve Password Hygiene With Keeper

Keeper gives credit unions the visibility and control they need to prevent credential-based cyber attacks by enabling IT administrators to monitor and manage employee password usage and system access, throughout the data environment.

With Keeper, firms gain privileged account session management, secrets management, Single Sign-On (SSO) integration, privileged account credential management and powerful credential vaulting and access control.

Protect your credit union today. Start a free 14-day trial.

Protect Your Passwords and Achieve Password Hygiene With Keeper
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