Why cybersecurity belongs in every financial wellness program
October is Cybersecurity Awareness Month, and there’s no better time to talk about one of the most overlooked aspects of financial wellness: helping members and customers keep their money safe from cyber threats.
A truly holistic financial wellness program should help people feel confident not only about managing their money but also about protecting it. Because what good is a healthy savings account if a hacker can drain it overnight? Here’s how credit unions can help members better protect themselves while building trust in the process.
Members are impacted daily
Cybersecurity is no longer a niche concern for IT departments — it’s a daily reality for every member. Nearly one in three Americans report being victims of online financial fraud or cybercrime. From phishing scams and fake “bank” texts to compromised passwords, the risks are everywhere. These threats don’t just lead to financial loss — they create anxiety, confusion, and erode trust in financial institutions. Giving members confidence that their money and data are protected is now fundamental to that trust — and once it’s lost, the relationship can unravel fast.
The link between cybersecurity and peace of mind
A truly holistic financial wellness program should help people feel confident not only about managing their money but also about protecting it. Cybersecurity education gives members the tools to:
Recognize and avoid phishing emails and fraudulent messages
Create strong, unique passwords and use multi-factor authentication
Spot scams targeting credit union members and digital banking users
Safely navigate online shopping and digital wallets
Understand how to recover quickly if their information is compromised
Empowering members with this knowledge builds confidence — and confidence is the foundation of financial well-being.
A win-win for members and credit unions
When credit unions proactively offer cybersecurity education as part of their financial wellness initiatives, the benefits go far beyond prevention. It becomes an opportunity to:
Build trust by showing members their safety is a priority
Deepen engagement through timely resources and alerts
Reduce fraud-related losses and operational strain
Differentiate your credit union as a partner that protects, not just serves
Worthwhile investment
For financial institutions, investing in cybersecurity education isn’t just about prevention — it can also reduce fraud-related losses, call center volume, and the operational overhead tied to resolving compromised accounts. Every avoided incident saves time, resources, and reputation.
it’s also an investment in member confidence and institutional integrity. A recent report by Javelin confirms that identity fraud losses to consumers in 2024 reached $27.2 billion, a 19% increase over the prior year. If your current financial wellness program doesn’t include cybersecurity education, you’re not just missing a nice-to-have feature — you’re leaving a significant gap in your financial wellness approach. Members trust you with their most personal information and assets. Helping them protect those assets isn’t optional anymore — it’s essential.
How Ovation Helps
At Ovation, we believe financial wellness means helping people feel safe, informed, and in control of their financial lives. That includes integrating digital safety education into the member experience — through guided content, proactive alerts, and simple, accessible tools that help members track their accounts in real time. Learn how Ovation can help your credit union deliver a complete financial wellness experience — schedule a consultation with us today.