News

FARMINGTON, Utah - Credit Union Data Processing Inc. (CUDP) was looking for an efficient way to back up data, and has ended up with a new, encrypted storage system to offer the 21 credit unions served by the Utah-based CUSO. CUDP recently deployed the NetVault backup and recovery system from...

NEEDHAM, Mass. - Online wholesale lending in the United States grew from 15% of total mortgage loan origination volume in 2001 to 20.5% in 2004, while online retail grew from 3.5% to 7.3%, according to TowerGroup. Both are expected to continue an upward trend, according to new research from the...

WASHINGTON-The House Financial Institutions and Consumer Credit Subcommittee held a hearing last week on data security legislation. Representatives Steve LaTourette (R-Ohio), Darlene Hooley (D-Ore.), Michael Castle (R-Del.), Domestic and International Monetary Policy Subcommittee Chairman Deborah Pryce (R-Ohio), and Dennis Moore (D-Kan.) introduced H.R. 3997, the Financial Data Protection Act of...

SYDNEY Australia - A KPMG survey of member-owned financial institutions including 66 credit unions and 12 building societies showed they are having rough sledding against banks. Building societies are co-operative banks that finance mainly mortgages.Credit unions surveyed were found to have loan growth of 8.5% and building societies of 12.5%...

ORLANDO, Fla. - BAI's 2005 Retail Delivery Conference is all about the customer, according to BAI CEO Debbie Bianucci. "The conference this year will have a focus on the customer. You'll see that thread weaved through the entire agenda to help financial services companies understand serving the customer," said Bianucci....

SARAJEVO, Bosnia and Herzegovina - Djana Fadil of the Railway Zadruga in this war-fatigued city has battled to keep his zadruga (credit union) open including resisting attempts by the government to arrest him. The zadruga has 4,700 members, a 30-person volunteer board and US$5 million in assets. It operates on...