News

JACKSONVILLE, Fla. - A $39 million, 6,500 member federal credit union in Florida is using card numbers, but not the cards themselves, to generate roughly $50,000 per month in interchange income, according to the credit union's CEO and the credit union's data processing firm. The processing firm, Indianapolis-based Remember Data...

WASHINGTON-Senator Jack Reed (D-R.I.), a Banking Committee member, made a special five-minute introduction on the importance of identity theft prevention during a NAFCU conference call on the subject. The Senator also held a community gathering on the issue in his home state, where NAFCU Senior Vice President and General Counsel...

PLANO, Texas - IT security needs to be a multi-faceted, dynamic, evolving process for it to work, according to most experts. EDS here is giving CUs a firewall product that has about as much of that as possible in one product, says the company. EDS has teamed with Astaro, Burlington,...

MARLBOROUGH, Mass. - St. Mary' Credit Union recently implemented a relatively inexpensive photo capture system that managers say provides an easy way for staffers to identify members and help prevent fraud. While the $385 million credit union knew it was getting both a less-costly alternative to biometrics and a new...

COLUMBIA, S.C. - A hacker's reported swift entry into three Swedish banks through the vaunted protections of SSL technology has some experts in the credit union space scratching their heads more than crossing their fingers. According to the Reuters news service, the hacker - who was not named but described...

Security of customer financial information, particularly data in motion such as e-mail, is a top priority for financial executives. This is in part due to privacy legislation such as the Gramm-Leach-Bliley Act, which provides for civil and criminal penalties for failing to secure customers' financial data, and an overall heightened...

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If you missed CUNA's Symposium held recently in Orlando, turn to pages 24-26 for the most important stories surfacing from the conference.