Credit Union Times Magazine January-23, 2002

News

  • A BIG TARGET

    Of course, Microsoft is the biggest of targets for computer criminals. But it's not just size that's the issue here, Butler says. "Microsoft's leadership extends its operating system into realms previously untrod by others," he says. For instance, "UNIX has no plug-and-play equivalent," says Butler, whose own company has worked...

  • A DAILY CHALLENGE

    Tom Ha sees the challenges grow daily. "Staying up to date on firewalls and anti-virus software is critical to a good operation," says the information systems manager at AmeriChoice FCU, a $70 million, 11,000-member organization in Mechanicsburg, Pa. "Money in accounts is really just another form of data, the real,...

  • A look ahead for EBP

    In 1999, many experts theorized that electronic bill payment and presentment (EBPP) would surge in popularity by the end of that year, with the advent of electronic bill presentment spurring the growth. EBPP would become a must have service that would attract new members and keep existing members from moving...

  • CONSUMER DEMAND

    So what's going to definitively turn the tide? That old reliable of American capitalism: consumer demand. Mackelprang, the security chief at Digital Insight, feels that security and stability are going to have to be as valued as bells and whistles to the customer, whether it be Joe Consumer buying Windows...

  • Corillian at-a-glance

    End-users: 4 million Clients: 56 CU clients: 21 CU clients with over $1 billion in assets: Desert Schools CU, Ent FCU, The Golden 1 CU, HP Employees CU, Mission FCU, United Airlines CU, Suncoast Schools FCU. SOURCE: Corillian

  • Corillian's entrance into small to mid-sized CU market sets stage for battle with Digital Insight

    BEAVERTON, Ore. - Corillian is picking a fight with Digital Insight, and it's not shy about it. The two Internet services firms focusing on financial institutions may see more of each other in competitive situations as Corillian said it plans to go full-force after Digital Insight's market segment, primarily small...

  • Digital Insight at-a-glance

    End-users: 2.2 million Clients: 1,385 CU clients: 600+ CU clients with over $1 billion in assets: Star One CU, ESL FCU, Lockheed FCU, Atlanta Postal CU, Portland Teachers CU, Teachers CU, Community CU. SOURCE: Digital Insight

  • Digital Insight co-founder Paul Fiore now a restauranteur?

    BEVERLY HILLS, Calif. - From bits and bytes at credit unions to dinner and dessert in Beverly Hills. Digital Insight co-founder Paul Fiore, who is still a director with DI, is a one-third owner in Chadwick of Beverly Hills, an upscale restaurant opened a year and a month ago. Chadwick's...

  • GROWING CAPABILITIES

    Froehlich's approach is what the industry sees happening more and more, using technology to supplement the interaction that's required for many types of learning. A PowerPoint slide delivered over the Internet is just that, a PowerPoint slide, and it can't replace human interaction, but the art of Internet training is...

  • `Golden Age of Hacking' brings new life to old terms, some new ones

    Calling someone a hacker used to be almost a compliment, or at least a begrudging recognition of his intelligence and ability to crack into computer systems. But that was before cyber-terrorism joined the physical kind as a fact of life for us all. Just as those threats have changed and...

  • HP announces five-year transition plan for workhorse business box

    COLUMBIA, S.C. - When Hewlett-Packard announced the end of the line for the senior citizen of its business-computing line, users likely took notice. After nearly 30 years of service, HP says it will quit selling its workhorse e3000 systems in 2003 and end full support of them in 2006. In...

  • Hobko said there was strong business case for Sunstar to hook up structurally with CUNA

    TAMPA, Fla. - CUNA's for-profit arm, now known as CUNA Strategic Services, Inc., has had its share of business failures over the years, but CUNA Network Services President John Hobko said the strategy CSSI has taken with CNS is the polar opposite of yesteryear. Hobko is one of the founders...

  • Indiana CU bills introduced in state legislature

    INDIANAPOLIS - The Indiana Credit Union League is facing a short, three-month state legislative session to see three league-supported bills passed by the state legislature before it adjourns March 14. House Bill 1140 and Senate Bill 202 are identical bills that would amend the state's field-of-membership law to allow credit...

  • Internet delivery can take byte out of training costs, but human touch lost

    CU Times Technology Correspondent COLUMBIA, S.C. - A major benefit of the Internet revolution for credit unions is the growing ability to provide a vast array of training across a far-flung operation, and do it consistently and efficiently. Lenore Froehlich knows that, and that's why Motorola Employees Credit Union-West is...

  • Irish credit unions make a smooth transition to the Euro

    BALBRIGGAN, Ireland - The Republic of Ireland, the only European country with credit unions directly affected by the Euro, made a smooth transition to the new currency, with a few bumps and some laughs along the way. England, Scotland, Wales and Northern Ireland have stayed with the English pound, claiming...

  • NEW WAVE - `WEBINARS'

    One way technology is combining the human element with the strengths of the Internet are "webinars" - which typically involve a meeting room, a PC and a projector, along with someone at the other end making the presentation as if it were a live remote on television, only with some...

  • New York Gov. Pataki indicates support for CU-friendly state issues

    ALBANY, N.Y. - Gov. George Pataki in his Jan. 9th State of the State address, mentioned and indicated his support of two issues high on credit unions' agenda. In a discussion of what small business owners in New York State "need to grow and prosper," Pataki said the state will...

  • PROTECTING THE SYSTEM

    The UPnP problem was discovered by a young California computer whiz, a 21-year-old reformed hacker whose company, eEye Digital Security (www.eeye.com), held off announcing it until Microsoft could prepare a fix. It's that kind of cooperation that makes the whole thing work, Butler points out. "Servers are exposed to the...

  • SPECIAL REPORT: Data Processing & Technology

    Is there a Net banking vendor fight brewing in CU land? Read about this and other tech news in the Data Processing & Technology Special Report on pages 18-28.

  • Secure?: Will operating securely on the Net get tougher or easier in 2002?

    COLUMBIA, S.C. - As holiday celebrations fade, here's a sobering thought for the New Year: While credit unions and their members move more of their financial lives onto the Web, some leading Internet security experts say breaches, worms, viruses and others attacks will only increase. In fact, says John Pescatore...

  • Security flaws exposed and patched; opinions divided

    COLUMBIA, S.C. - In the weeks since Microsoft launched its newest operating system with assertions that it's the most secure thing yet, serious breaches have been discovered, including the latest, which was severe enough that the federal government is recommending a key XP feature be disabled. That would be the...

  • Study shows Americans continue to flock online, with reservations

    LOS ANGELES - A recent report on Internet use from a major research university can tell decision makers a lot about those who matter most to the nation's credit unions - individual households and the consumers living there. The study is the UCLA Internet Report 2001 - "Surveying the Digital...

  • Taking stock of Liberty Cavion one year after acquisition; client base up to 130

    DENVER - Internet solutions firm Cavion and check printer giant Liberty made headlines frequently around this time last year as Liberty was making a bid to acquire the bankrupt Cavion. On Feb. 17 it will be exactly one year since Liberty acquired Cavion for about $650,000. The deal with Liberty...

  • Virginia league tracking payday lending measure

    RICHMOND, Va. - The Virginia Credit Union League is following a bill-H.B. 940-introduced January 9 by Del. Harvey Morgan (R-98) that establishes requirements for conducting payday lending. Among the bill's provisions, it caps the fee that a payday lender can charge at $15 per $100 advanced to the borrower; the...

  • Washington league to hold hearing on proposed FOM rule change

    FEDERAL WAY, Wash. - The Washington Credit Union League scheduled a hearing during its government affairs conference, on a proposed field-of-membership regulation change that would allow well-run CUs to expand their field-of-membership by a board vote instead of requiring them to receive approval from the state regulator. Parker Cann, director...

  • Win Ben Stein's `attention'?

    Find out how SAFE CU was able to get popular game show host Ben Stein to market the credit union. See story on page 16.

In Other News

  • AWARDS

    Charter Oak Federal Credit Union, Groton, Conn., has been presented the Chairman's Award of Excellence for the second consecutive year by the United Way of Southeastern Connecticut. Charter Oak FCU raised $35,000 toward the 2001 campaign, representing a 16% increase over last year. In addition, 92% of employees participated in...

  • BRANCHING OUT

    Saratoga's Community Federal Credit Union, N.Y., has officially re-opened its doors with a ribbon-cutting ceremony featuring City of Saratoga Springs Mayor Kenneth Klotz and SCFCU CEO Charles Folensbee. Also on hand for the opening were Saratoga Chamber President Joseph Dalton, Saratoga Springs City School District Superintendent John MacFadden and League...

  • NAME CHANGES

    National Semiconductor Federal Credit Union, Sunnyvale, Calif., has changed its name to National 1st Federal Credit Union.

Tech Bytes

  • About 500 CUs reserve 800 .coop domain names

    WASHINGTON - According to the National Cooperative Business Association, about 500 credit unions have reserved some 800 new .coop domain names. Credit unions were given an opportunity to reserve .coop names prior to the official Jan. 30 launch date when any co-op will be able to purchase a .coop domain...

  • CUNA Mutual/HomeBank Technologies in Web origination agreement

    MADISON, Wis. and TORONTO, Ontario - CUNA Mutual Group and HomeBank Technologies Inc. have formed an agreement related to Web-based loan origination. Under the agreement, CUNA Mutual will aid HomeBank Technologies in the development of a U.S. version of its ProLender loan origination system. The Web-based ProLender system will allow...

  • CUSA Technologies' latest release of its loan origination system

    SALT LAKE CITY - Credit union data processor CUSA Technologies, a Fiserv subsidiary, has released Loan Workstation 3.0, a loan origination system integrated with CUSA's management systems. LWS 3.0 allows clients to capture electronic signatures through the system's Loan Signature Pad, which secures and stores signatures in a digital loan...

  • Call_Solutions.com makes its 10th acquisition

    WAUKESHA, Wis. - Call center firm Call_Solutions.com has made its 10th acquisition. That's 10 acquisitions in less than two years of being in business. Call_Solutions.com, founded in August 2000, has acquired CTC Teleservices, an inbound/outbound telemarketing service headquartered in Oak Brook, Ill. CTC's broad client list includes B2B marketers focused...

  • Cavion brings up "warm site"

    ENGLEWOOD, Colo. - Liberty Cavion has entered into a contract with a major telecom provider to host a "warm site" so its mission-critical telecommunication services are available in the event of a disaster. Liberty Cavion now has a redundant telco connection live from the backup data center to the Internet...

  • Counter Intelligence Associates making room for Web cast studio

    SAN JUAN CAPISTRANO, Calif. - Counter Intelligence Associates, which started hosting CU Web casts in 2001, now says it is planning to build a dedicated Web cast studio. The 1,700 square-foot studio will be adjacent to its current offices and studio in San Juan Capistrano, Calif. It will house CIA's...

  • FORUM Solutions and CSC Credit Services in marketing agreement

    INDIANAPOLIS - FORUM Solutions, a wholly-owned software development CUSO of Indianapolis-based, $525 million FORUM Credit Union, has entered into a marketing agreement with CSC Credit Services, a division of consulting/IT firm Computer Sciences Corporation. FORUM Solutions' primary product right now is its "TAPS" (Total Account Processing System) home banking and...

  • RDS using Web educational sessions

    INDIANAPOLIS - Credit union data processor re:Member Data Services (RDS) has launched a new Web-based education series designed to help CUs get a better understanding of the business applications of its new software features. "Business Application Series," sessions are free, and RDS hopes it will help credit unions think through...

Publisher's Column

  • CEOs and boards must know their place

    Almost every staff job in today's credit unions is getting more difficult, but none more so than the CEO's. For starters, credit union CEOs of today must have hands-on experience, be well-educated, be master delegators, be risk takers, be capable of setting and sticking to priorities, be technologically savvy, people...

News Briefs

Looking Back

Letters to the editor

  • Prediction off the mark

    I always enjoy reading predictions-some are usable in future planning and others are just wild guesses. Mike Welch's January 2002 "Predictions" column takes yet another swing at the Renaissance Commission ("CUNA will enjoy a number of legislative successes, but not under the umbrella of the Renaissance Commission..."), a development that...

In Memoriam

  • RCU Founder John Thompson passes away

    EAU CLAIRE, Wis. - At the age of 82, Royal Credit Union founder John Thompson has passed away. Realizing that the employees of Uniroyal needed convenient financial services, Thompson got RCU off the ground in a small office right in the Uniroyal plant. As the second employee hired in those...

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