In a day and age where Artificial Intelligence (AI) has infiltrated our daily lives, sometimes it might feel like it’s all we talk about. In that conversation, however, sometimes important factors such as risk mitigation and privacy protections are missed.
Financial institutions know better than most that AI can be an incredibly useful tool and an incredible risk. For credit unions, the risks are increasing disproportionately more quickly than some may have the resources to address. Fortunately, the National Credit Union Administration (NCUA) has sought to fill the gap of credit union resources by offering FREE resources to credit unions to address AI risks.
The NCUA’s resources include the following considerations:
In its release of the resources, the NCUA noted that credit unions have increasingly explored AI solutions to enhance elements of the credit union existence such as enhancing member services, streamlining operations, and using AI to remain competitive. The NCUA recognized the importance of supporting credit unions as they evaluate, implement, and manage AI resources.
In addition to the NCUA’s FREE resources, credit unions also need to be cognizant of how internal uses of AI may be accomplished. In determining the best uses and practices for AI use and implementation, a credit union should develop a policy that outlines best practices. The policy should include specifics such as which employees of the credit union can use the AI product, how the product can be used, and parameters of redress should the AI product be used in a non-conforming way. Credit unions should also keep their board members apprised of the risk involved with both the implementation and use of any AI products.
The NCUA published the resources on August 19, 2025, and will continue to develop them as more industry developments occur.
Have questions or want to know more? Contact ViClarity’s Compliance Services team at compliancesupport@viclarityus.com.
For more information, email Heather Line.
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Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!
Additionally, other League-member compliance resources include:
For more information, email Lisa Quaranta.
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