Which policy should be established to safeguard a credit union against criminal activities such as robberies and embezzlement?

Establishing a Security Policy is essential for safeguarding a credit union against criminal activities such as robberies and embezzlement. This policy outlines the measures and protocols that need to be in place to protect physical and digital assets, ensure the safety of employees and members, and deter criminal behavior.

A robust Security Policy will detail surveillance measures, access controls, alarm systems, and employee training on recognizing and reporting suspicious activities. By implementing these security measures, a credit union can create a safer environment, reducing the likelihood of criminal incidents and enhancing the overall resilience against threats.

While other policies, such as Compliance Policy, Internal Audit Policy, and Risk Management Policy, may play roles in the broader operational framework of the credit union and address various risks, they do not specifically focus on the physical and procedural safeguards needed to prevent and respond to criminal activities. A Compliance Policy ensures adherence to laws and regulations, an Internal Audit Policy aids in verifying operational effectiveness, and a Risk Management Policy helps identify and address different types of risks but does not specifically target security against crimes like robbery and embezzlement. Thus, the Security Policy is crucial for addressing these specific threats.