Cybersecurity Risk Assessments for Ohio Credit Unions: What Should They Really Include?

I was meeting with the board of a community credit union when one of the directors asked a question that made everyone else in the room smile.

“Rusty, we’ve had three cybersecurity assessments in the last five years. Why does it feel like we’re answering the same questions every time?”

It’s a fair question.

From the outside, cybersecurity risk assessments can feel like another annual exercise.

Another report.

Another checklist.

Another document that gets reviewed, filed away, and forgotten until next year.

But that’s not what a good risk assessment is supposed to be.

Done well, it isn’t about satisfying an examiner.

It’s about giving leadership confidence.

Confidence that you’re protecting your members.

Confidence that your employees have the right tools.

Confidence that when the board asks, “How exposed are we?” you can answer honestly.

After more than 26 years helping organizations strengthen their technology environments, I’ve learned that the best cybersecurity risk assessments don’t create fear.

They create clarity.

First, What Is a Cybersecurity Risk Assessment?

Let’s keep this simple.

A cybersecurity risk assessment is a structured review of the people, processes, and technology your credit union relies on every day.

Its purpose isn’t to prove you’re secure.

Its purpose is to identify where you’re vulnerable before someone else does.

Think of it like an annual physical.

Your doctor isn’t hoping to find something wrong.

They’re looking for early warning signs so small problems don’t become life-changing ones.

A cybersecurity assessment does exactly the same thing for your technology environment.

A Good Assessment Looks at More Than Technology

One of the biggest myths I hear is that cybersecurity is all about firewalls and antivirus software.

Those tools matter.

But technology is only one part of the equation.

A meaningful assessment looks at five key areas.

1. Your Technology Environment

This is where most people expect the conversation to begin.

An assessment should review:

• Servers and workstations
• Firewalls
• Wireless networks
• Microsoft 365
• Cloud services
• Remote access
• Mobile devices
• Backup systems

The goal is to identify outdated systems, unsupported software, and configuration weaknesses before they become problems.

2. Your People

Here’s something that surprises many boards.

The biggest cybersecurity risk often isn’t the technology.

It’s people.

Not because employees don’t care.

Because they’re busy.

Cybercriminals know that.

They send convincing phishing emails.

They impersonate vendors.

They create urgency.

A strong assessment evaluates:

• Security awareness training
• Phishing resistance
• Password practices
• Multi-factor authentication
• Employee onboarding and offboarding
• Administrative access

Technology helps.

Well-trained people make the biggest difference.

3. Your Policies and Procedures

One question I often ask leadership is:

“If your IT manager was unavailable tomorrow, could someone else follow your security procedures?”

If the answer is no, that’s a risk.

Good documentation protects the organization—not just the technology.

An assessment should review:

• Incident response plans
• Acceptable use policies
• Vendor management procedures
• Disaster recovery documentation
• Business continuity plans
• Change management practices

Policies don’t stop cyberattacks.

But they help people respond consistently when something happens.

4. Your Vendors

Most credit unions rely on dozens of third-party technology providers.

Core processors.

Cloud platforms.

Phone systems.

Internet providers.

Cybersecurity vendors.

Every one of those relationships introduces some level of risk.

A thorough assessment reviews:

• Vendor security practices
• Access permissions
• Contract requirements
• Cyber insurance expectations
• Third-party documentation

Your cybersecurity is only as strong as the partners connected to your environment.

5. Your Ability to Recover

Here’s the question I care about most.

“If something happened tomorrow, how quickly could you recover?”

Cybersecurity isn’t just about preventing incidents.

It’s about responding well when they occur.

An assessment should examine:

• Backup testing
• Recovery time objectives
• Recovery point objectives
• Business continuity procedures
• Communication plans
• Lessons learned from previous incidents

Preparation builds resilience.

Common Risks We Discover

Every credit union is different.

But we tend to see the same patterns.

Outdated operating systems.

Unused administrator accounts.

Multi-factor authentication that isn’t fully deployed.

Microsoft 365 settings that were never optimized.

Backups that haven’t been tested recently.

Vendor accounts with more access than necessary.

None of these issues happen because people aren’t paying attention.

They happen because technology changes faster than anyone can keep up with alone.

A Story I’ll Never Forget

Several years ago, we performed a cybersecurity assessment for a credit union that believed they were in excellent shape.

They had modern security software.

Their employees had completed awareness training.

They had strong passwords.

Everything looked encouraging.

Then we reviewed administrative accounts.

We discovered several former employees still had active credentials.

None of those accounts had been used.

But they were still there.

Waiting.

Nothing bad had happened.

But the potential risk was significant.

The good news?

Fixing the issue took less than an afternoon.

That’s the value of a risk assessment.

Sometimes the biggest win isn’t discovering a major problem.

It’s discovering a small one before someone else does.

Questions Every Board Should Ask

If you’re preparing for your next board meeting, here are six questions worth discussing.

• When was our last cybersecurity risk assessment?
• What were our highest-priority findings?
• Have those issues been resolved?
• Are we testing our backups regularly?
• Do we understand the cybersecurity risks introduced by our vendors?
• If ransomware struck tomorrow, what would happen during the first four hours?

Those questions create better conversations.

Better conversations lead to better decisions.

Final Thoughts

Cybersecurity isn’t about eliminating every risk.

That’s impossible.

It’s about understanding your risks well enough to make thoughtful, informed decisions.

The strongest credit unions aren’t the ones with the biggest technology budgets.

They’re the ones that continually evaluate, improve, and prepare.

A cybersecurity risk assessment isn’t another compliance exercise.

It’s a leadership tool.

It helps you protect your members.

Support your employees.

Build confidence with your board.

And ensure your credit union is ready for whatever comes next.

Know Where You Stand Before Someone Else Tells You

At CTG, we help credit unions turn cybersecurity assessments into practical action plans. We don’t believe in overwhelming leadership with technical jargon or lengthy reports that collect dust. Instead, we provide clear priorities, explain the business impact of each finding, and help you build a roadmap that strengthens security over time.

Whether you’re preparing for an NCUA examination, reviewing cyber insurance requirements, or simply want greater confidence in your technology environment, a comprehensive cybersecurity risk assessment can provide the clarity you need to make informed decisions.

Because the goal isn’t to find fault.

The goal is to protect the people who trust you every day.