Banking Wire articles from December 2006

Banking Wire archives from December 2006

Paper Examines Biz Continuity Across Multiple Departments.
December 1, 2006... MADISON, Wis. -- A multi-departmental look into developing a business continuity plan for credit unions is provided in the second white paper to be sponsored by all six of the CUNA Councils. The "Business Continuity: Trends and Planning"...

Survey: Consumers Turn To Cash, Checks, Debit More Than Credit.
December 1, 2006... NEW YORK -- Despite common perceptions about how consumers use credit and even the oft-cited January day of reckoning when credit card bills arrive, most consumers will use checks, cash or debit cards this upcoming holiday season to finance...

What Members Want: Business Credit Card Offered At NECU.
December 1, 2006... PORTSMOUTH, N.H. -- Northeast Credit Union has created a Business Platinum Visa credit card designed to help the $470-million credit union reach out to its business membership. The Business Platinum Visa credit card includes a 0% APR...

Need To Spark Membership Growth? Plan To Be In Boston In April.
December 1, 2006... WEST PALM BEACH, Fla. -- Membership growth was almost flat during the first half of 2006, and the squeeze on profitability has been well documented. Yet some credit unions have been experiencing robust increases in membership and healthy...

MasterCard Celebrates 40 Years.
December 1, 2006... PURCHASE, N.Y. -- It's not often that someone is happy about turning 40, but then it also isn't often you find someone for whom a credit card would be an inappropriate gift. MasterCard Worldwide is marking its 40th birthday following its...

Surveys Show CUs A Better Deal For Most Americans.
December 1, 2006... MADISON, Wis. -- Two new surveys suggest that American credit unions are better for the average consumer even when it comes to fees for bounced checks and ATM use. A Bankrate.com survey listed a record $27.40 for non-sufficient funds...

Product & Service.
December 1, 2006... Women's Leadership Mtg. Planned SAN DIMAS, Calif.-WesCorp will host a Women's Credit Union Leadership in January 2007. The workshop is designed to help women in leadership positions at the credit union, from branch managers to CEOs, grow...

FirstCarolina, VACORP Team Up On ACH Payments Conference.
December 1, 2006... GREENSBORO, N.C. -- First Carolina Corporate Credit Union and VACORP Federal Credit Union co-sponsored the first annual Payment Systems Conference that sought to provide CU industry payment experts with timely updates and new technology. ...

Expert Says: Leveraging Capital, Increasing Earnings Key For CU Growth.
December 1, 2006... COLUMBUS, Ohio -- Credit unions are generally overcapitalized and need to leverage their capital to grow and gain market share, according to one expert. Peter Duffy, associate director at Sandler O'Neil + Partners, L.P., during his...

Report Raises Questions.
December 1, 2006... SAN DIMAS, Calif. -- Having served as the linchpin for the bond market for the last 20 years, the Nonfarm Payroll report released last month was a shocker, according to Dwight Johnston, VP of economic research at Wescorp. The shock, he...

Deepening Ties Within Communities of Practice: Women execs operate as a community of practice where sharing experiences and exchanging information are strong bonds that tie them together professionally. But they aren't banking's only prospective group.
December 4, 2006... The adage about there being strength in numbers doesn't address the satisfaction associated with being part of a group that shares a cause, an objective and a common practice. Banking, in this regard, is a community of practice, defined...

Layoffs: Pink Slips Abound in '06, But Next Year May Improve: Institutions lay off 19,000-plus-so far.
December 4, 2006... Although 19,000-plus employees were laid off at Washington Mutual, PNC Financial, Ameriquest and Countrywide Financial this year, financial industry analysts and consultants predict pink slips will be a rarity in 2007. "We've been through...

Profile of a Champ.
December 4, 2006... This year's ranking of the 50 top reps in the country paints a picture of just how broad the industry has become and how it is evolving every day. Annuities, which have historically been bank brokerage's bread and butter, are still important to...

BoA Moves into Unified Managed Accounts.
December 4, 2006... On Nov. 1, Bank of America introduced a unified managed account (UMA) platform, as it looks to go head-to-head with Bank of New York and the wirehouses in a rapidly evolving market. Analysts say the Charlotte, N.C.-based banking company...

Securities: Brokers Dive Into the Pool of Dark Liquidity: Will they get all wet? Or will block trading system take off?
December 4, 2006... What the market for dark liquidity pools needs is a little light. So says Paul Hanson, a director at Alberta Market Solutions, a capital markets infrastructure specialist in Canada. The market for these huge anonymous block trades "should...

Profitability: When is the Price Right: BB&T's new price optimization strategy bodes well for optimizing profits.
December 4, 2006... When it comes to setting prices for financial products, you can never have too much data to help make your decision. "You bring as many variables into place as possible," says Dan Rozelle, vp and product manager for the sales finance...

All IT Wants For Christmas...: CUs Make Tech Wish List At BAI.
December 4, 2006... LAS VEGAS -- It's the Santa's workshop of retail banking: the Annual Bank Administration Institute (BAI) Retail Delivery Conference and Expo, here. About 650 exposition elves offered up the holidays' hottest tech- including payment and...

CU Reaches Out To Latino Businesses: Outreach Isn't Just Good PR, It's Driving Biz Development.
December 4, 2006... SUNRISE, Fla. -- In any language, money talks-and that's why credit unions are targeting one of the most lucrative markets today: the Latino business community. Hernan Pulido, and Eastern Financial Credit Union is serious about earning the...

CUNA Sees Bump In Holiday Spending.
December 4, 2006... WASHINGTON -- Holiday spending is still expected to rise slightly this year, despite consumers reporting plans to spend less money, according to the annual consumer survey conducted by CUNA and the Consumer Federation of America. The...

Branching Still King In Membership Growth.
December 4, 2006... LAS VEGAS -- Branches, baby. That's how Darren Williams sums up the simple secret to the 10% annual rate of membership growth Wescom Credit Union has experienced over each of the past 10 years. Williams, CEO of the $3.6-billion,...

Branch Staff Are Blind to Cross-Sell.
December 5, 2006... Just how efficient is your branch staff at generating referrals? Not very, according to a recent "mystery shopper" report by Cohen Brown Retail Analytics in Los Angeles. As part of a nationwide study, Cohen Brown's mystery shoppers...

Mutual Fund Inflows Hold Steady.
December 5, 2006... Fund inflows into long-term mutual funds-stock, bond and hybrid- stood relatively steady in September, at $11.7 billion. That compares favorably with August's fund inflows of $11.9 billion, according to the Investment Company Institute, a...

Image Capture: Check Scans Save Time and Money: Small banks embracing branch image capture.
December 5, 2006... Typing an extra 50 keystrokes per transaction leaves tellers with a lot less time to pitch home refis and CDs to account holders. That at least is the thinking at many small banks these days, and it's leading them to deploy front-line check...

Hold the Phones: Mobile Commerce Is Here.
December 5, 2006... The debate over when, or if, mobile banking would take off came to a hard stop in November when BancorpSouth, an $11.9 billion-asset institution based in Tupelo, MS, went live with a mobile banking and payments application allowing its...

On Deadline.
December 5, 2006... NCUA Issues Reg D Alert The NCUA notified credit unions of changes to the Federal Reserve's changes to Regulation D, which requires financial institutions to keep a percentage of some deposits as reserves in cash, as a deposit in a Fed...

NACUSO Announces National Center For Collaboration.
December 5, 2006... CHICAGO -- NACUSO Chairman Tom Davis acknowledged that the organization has had some bumpy times lately-bumpy times that reflect the challenges credit unions themselves are facing. Declining numbers of credit unions, flat membership growth,...

Worth Noting.
December 5, 2006... CDCU Grant Gives More HOPE JACKSON, Miss.-HOPE Community CU and its sister organization Enterprise Corporation of the Delta were awarded a $500,000 grant from the Annie E. Casey Foundation. The CDCU has been in the forefront of helping...

More Highlights From The Long And Grinding Road.
December 5, 2006... So here's how the trip started: 3:30 a.m. wake-up call in order to get to Orlando airport, catch a nonstop to Vegas and avoid a layover in Atlanta. At 6:05 a.m. the captain's announcement welcomes everyone aboard "our flight to Atlanta." Turns...

Sovereign CEO's Resignation Won't Deflate $44M Parachute.
December 5, 2006... The banking industry said goodbye to one its most controversial characters with the resignation of Sovereign Bancorp chairman and CEO Jay S. Sidhu, who will earn $44.4 million in severance and other payments. Although Sidhu initially claimed...

Noted and Noteworthy.
December 5, 2006... Gotta find an ATM? Customers can access MasterCard's new Worldwide SMS service and request the location of the nearest machine to be sent via text message to their cell phones. MasterCard lists nearly one million ATMs around the world. The...

Partnering Information Technology, Business Is Driving Innovation.
December 6, 2006... PHOENIX, Ariz. -- Business and technology must achieve harmony in an organization, according to CUNA Mutual's Rick Roy, senior vie president, Customer Operations and Chief Information Officer Tom Gosnell, who addressed an audience of more...

NCUA Tours Affordable Housing Project.
December 6, 2006... TAMPA, Fla. -- NCUA Chairman JoAnn Johnson and her chief of staff Holly Herman recently visited Suncoast Schools Federal Credit Union and GTE Federal Credit Union to learn about the multi-billion credit union giants' efforts to provide...

CUNA Sexual Harassment Case Delves Into Behavior Of 2 Employees.
December 6, 2006... MADISON, Wis. -- Nearly 100 pages of briefs filed with the Madison Equal Opportunity Commission offered extremely versions of the case filed by former CUNA SVP Mike Miller against his former employer. In their 28-page initial brief,...

Think Takes Out Ad To Woo Members On Conversion, Bloggers Speak Up.
December 6, 2006... ROCHESTER, Minn. -- As Think FCU awaits approval of its application to the Office of Thrift Supervision to become a mutual savings bank, the $1.22-billion financial institution began soliciting member support via a full-page advertisement in...

Conversion Opposition Group Endorses Board Candidates.
December 6, 2006... DEARBORN, Mich. -- DFCU Owners United has endorsed a slate of six candidates - including former board chairman Linda Malec - to challenge three others selected by DFCU Financial to serve three-year terms on its board of directors. On...

Phishing: URL Deceit: Who's on The Beat?: The 'Citibank.com' domain name is available to anybody who wants it (including phishers). Is a free market in all domain names a common good?
December 6, 2006... Phishing losses are expected to hit $2.8 billion this year, and some security experts are beginning to wonder if Internet domain name registrars and resellers are enabling some obvious ruses; specifically, should they traffic in bank-related...

News Makers.
December 6, 2006... PHISHERS INCREASE ATTACKS ON THE RICH Phishing appears to have graduated into a demographic art form. In a new survey from Gartner, the research firm says high-income ($100,000- up) earners are becoming the targets-and victims-of more...

Top Tech Deals.
December 6, 2006... Number One Metavante has entered into an agreement with Yodlee that combines Metavante's electronic bill payment with Yodlee's proprietary card payment functionality, and integrates Yodlee products with Metevante's e-bill payment...

Procurement: BMO is Taking Credit Card Technology to School: Bank of Montreal unit is helping school districts and municipalities shave costs through a new credit card program and rebates.
December 6, 2006... It's almost like frequent flier miles-only in this case it involves schools buying supplies and building points toward rebates instead of business travelers earning points toward additional trips. "If a school district spends a million...

Email: Personal Email Use at Work Creates Big Security Risks: A new survey says use of personal Web-based email at work is growing, creating many threats to businesses.
December 6, 2006... It sounds innocuous, employees sending files from work to "home" email addresses so they can do work from home or on the road. But the practice can open up companies to all sorts of risks, even without the company or the employee knowing it....

Direct Banking: Hybrid Brick 'N Click Model Targets the Likes of ING: What's at stake? The high-yield savings accounts, for one thing, attracted by direct banks. Celent predicts they could capture one-fifth of online deposits over the next five years.
December 7, 2006... After direct banking landed with a late '90s thud (remember Wingspan?), the concept has made a comeback with viable examples of Internet-only players (ING Direct, E*Trade) attracting billions in new deposits through high-yield savings accounts...

Guiding Institutions Along The Bleeding Edge: John Fricke, the FSTC's new chief of staff, is charged with finding guidance for a range of new technologies.
December 7, 2006... Since becoming chief of staff for the Financial Services Technology Consortium this fall, John Fricke's plate has gotten pretty full very fast; the range of projects include imaging, business continuity and mobile payments. In each case,...

Corporate Payments: Easing, Expanding Use of E-Signatures: A double digital signature pilot from Citigroup and IdenTrust may prove a turning point in the quest to ease corporate treasury headaches and expand the transaction banking business.
December 7, 2006... About 150 global companies with multiple banking relationships have been drawn to the SWIFT network to interact with their banks, utilizing both SWIFT's accessibility and PKI-based security standards. But those connections have been limited...

Mutual Funds: Schwab Offers a Blue Light Special: By deploying CheckFree technology, the broker is trimming service costs.
December 7, 2006... Since the markets began recovering about four years ago mutual fund advisory assets have exploded. Now Charles Schwab is looking to capture its share by using remote processing technology to shave costs for consumers. Schwab, which did not...

Web Research: Lendingtree Feeds Financial Appetites: The company is offering Internet feeds so customers can gather information when making big financial decisions. And it's good market research for LendingTree as well.
December 7, 2006... For most consumers making decisions on personal finance matters can pose a challenge. LendingTree is hoping to ease that burden, while at the same time conducting valuable market research for its own use. The firm has debuted its Smart...

Gaining Steam to Go Green: The largest global financial services organizations generate about 500,000 metric tons of CO2 per year, and IT electricity consumption accounts for up to 65 percent of the total. Reducing an institution's carbon footprint isn't just the environmentally correct thing to do, it's a way to conserve energy and save money by operating more efficient facilities-and that will make shareholders happy.
December 7, 2006... As companies become increasingly information intensive, particularly those in the financial industry, the infrastructure required to support them is growing out of control-and so are the carbon emissions. The largest global financial...

Web Server Capacity: Austin Bank Wants To Lighten its Load: A victim of its own success, the community bank's quick growth has forced it to find a solution for overtaxed Web servers. Load balancing has provided the answer.
December 7, 2006... Austin Bank's Internet operation faces two major challenges: Web site congestion from heavy use, and slow ISP technology across its rural footprint. The problems are partially due to the East Texas-based community bank's fast growth-its...

IT Infrastructure: Sallie Mae Uses ITIL To Break Down Silos: As the student loan giant sheds its ties to Uncle Sam, it's embracing the IT Infrastructure Library to shore up IT structure and processes.
December 7, 2006... The SLM Corporation has made a lot of big changes to its business in the past few years, not the least of which is its new approach to IT service and support. "We have taken literally hundreds of different practices and consolidated them...

New Law has Directors Seeing Red: Thanks to the new regulatory reform law, bank directors can be held personally liable if their institutions begin to go belly up. But did they really sign on for this?
December 7, 2006... There has never been a more difficult time to be a bank director, nor to recruit one. One of the overlooked provisions of the newly signed Financial Services Regulatory Relief Act-banks would like to believe it's so overlooked it'll soon be...

Risk Mitigation: KeyBank's Safety Tools: Alerts, Authentication: KeyBank had an innovative idea: Why not just tell customers what's happening in their accounts every time something happens? This deceptively simple strategy is a win on several levels.
December 7, 2006... Cleveland-based KeyBank decided to open up communication with its online customers this year. When an account funds transfer occurs or a new payee is added to a bill-pay list, Key now sends out an e-mail alert. If a PIN, password or address...

Banks Lag Industry in Broker Satisfaction.
December 8, 2006... While most advisors across all investment channels are satisfied with the firms they work at-National Financial's broker sentiment index rose this year to 7.7 from 7.5 last year-bank reps are generally less happy than advisors in other...

Letters to the Editor.(Letter to the editor)
December 8, 2006... Lowering the Tone Regarding your September 2006 cover story, "Failure to Merge," it is clear from the blatantly negative tone of the article that the reporter was not interested in accurate reporting, but instead sought only to fulfill his...

Lenders Must Focus on New Mortgage Tech: Predictive mortgage sourcing can give lenders the ability to proactively identify and reach the target customer.
December 8, 2006... During the recent mortgage lending boom lenders extensively focused on increasing their loan portfolios and their market shares rather than addressing future technology investments and innovations. With the boom appearing to end, lenders now...

The Tax Man Cometh.
December 8, 2006... (And He Sports an Indian Accent) In an Indian Supreme Court case that portends major implications for U.S. banks with captive outsourcing facilities in India, that nation's income-tax authorities are appealing a tax ruling that Morgan...

Tiny Massachusetts Bank Aims for a Legacy of Growth: Legacy Bancorp of Pittsfield, MA, is looking for growth in a 50-mile radius of its current market, but its first challenge is to spend a little excess cash. Actually, a lot of excess cash.
December 8, 2006... Legacy Bancorp, a 175-year old institution in western Massachusetts, finds itself in a new situation: It desperately needs to grow. And it has the money to do it. Its immediate problem-looking for ways to spend $93 million from a recent...

Are Your 'Road Warriors' Putting Your CU's Data At Risk With Lax Laptop Security?
December 8, 2006... Information security awareness is something that is so prevalent in today's society that scarcely a day goes by without hearing about a new virus, a computer intrusion, or some other risk to our networks and our member's data. Because of...

Letter To The Editor: Could It Be Folks In Apex Just Like Google?(Letter to the editor)
December 8, 2006... After thinking about it for a moment I was not surprised to read in Frank J. Diekmann's column about our Apex, N.C. membership in his Oct. 2nd piece, "What Do Consumers Want? What's Ahead? Google Knows" and find that we are "googling" for...

Letter To The Editor: Erosion Of Democracy A Dangerous Reality.(Letter to the editor)
December 8, 2006... Congratulations on the thought-provoking article in the Nov. 6 edition entitled, "Member Rights & Credit Union Democracy." Among the many important issues covered by your reporter and those individuals she interviewed, it was particularly...

Political Activism Spreads Through CU Movement.
December 8, 2006... WASHINGTON -- One of the trends most evident in the aftermath of this year's mid- term congressional elections is the growing involvement of credit unions in the electoral process. The increasing amounts of campaign funds both raised and...

Jury Still Out On Several Congressional Races.
December 8, 2006... WASHINGTON -- The finally tally on this year's elections will have to wait several more weeks because several House races were still in doubt last week, and two were subject to special elections. By the end of last week it looked as if...

State Court Overturns Huge Community Grant.
December 11, 2006... HARRISBURG, Penn. -- The Pennsylvania Commonwealth Court overturned a broad community charter granted Belco Community CU and ordered the state Department of Banking to conduct hearings and reexamine the ruling, which would allow the credit...

$1B Deposit to Rebuild Gulf Coast.
December 11, 2006... NEW ORLEANS -- Dozens of the largest U.S. corporations unveiled a plan to deposit a total of $1 billion into community banks in the Gulf Coast to help them fund the ongoing rebuilding from hurricanes Katrina and Rita. The deposits will...

Pay By Cell Phone Chip Unveiled.
December 11, 2006... SAN FRANCISCO -- NXP Semiconductors and Sony Corp. announced plans for a joint venture to design a Near Field Communication chip that will allow consumers to use common cell phones as credit cards. The chip will come preloaded with two...

FHLB Pittsburgh Announces Payout.
December 11, 2006... PITTSBURGH, Penn. -- The Federal Home Loan Bank of Pittsburgh will pay its members a special transitional dividend in capital stock of 5.25%, as it transitions to a new payment schedule. Under the new schedule the Pittsburgh Bank will...

Drawing the Line: When and how is it appropriate for advisors to socialize with their clients?
December 11, 2006... The holiday season is upon us, bringing with it plenty of parties and presents. This festive time of year also easily raises a question all advisors must face over and over again in their careers: To what degree should you spend social time...

Bye-Bye Bonus?: That Christmas bonus may become as obsolete as the typewriter.
December 11, 2006... Those who don't show a little generosity come December risk earning a moniker coined for the archetypal miser, who cried out that extra compensation at Christmas was, "a poor excuse for picking a man's pocket every 25th of December!" But...

Learning to Serve Retirees In the Final Stages of Life: The retirement market is prompting banks to rearrange internal structures, with new retirement czars at the helm and new products on the offer. After all, customers don't want to outlive their money.
December 11, 2006... Banks across the country are making concerted efforts to capture their share of the expected onslaught of retirement business, as the first of the Baby Boomers stop working. There have been some tweaks to existing financial products...

Credit Quality Looms In Portfolio Segmentation: No longer content to use small-business loans as an inroad to a big customer group, banks are trying to gain more from the loans themselves. But they face age-old obstacles.
December 11, 2006... Banks have long talked about the importance of small-business loans, often as a long-term play to gain a foothold into a growing customer base that will need more sophisticated banking services as it matures. But now, there is growing buzz...

Mid-Tiers Find Value In What Lies Beneath: Real estate is the current boom for banks. Real estate can account for five percent of a mid-tier's total asset-and it doesn't generate income. It may be time to go.
December 11, 2006... Banks have searched high and low to find better ways to put their cash to work. Now they're cashing in on what traditionally has been the most illiquid asset they own: the land beneath their own buildings. A confluence of market trends has...

It's Time for Mortgage Lenders To Reevaluate IT Strategy.
December 11, 2006... During the recent mortgage-lending boom, lenders extensively focused on increasing their loan portfolios and market share rather than addressing technology investments and innovations. The Mortgage Bankers Association projects originations to...

Lone Star Statements.
December 12, 2006... BIC: WHAT UNIQUE OPPORTUNITIES DO YOU HAVE IN YOUR TERRITORY? DIGNUM: My bank is merging with a large regional bank, Frost Bank, which has branches all over the state. My functions will remain the same, but we'll have more resources-we're...

Stock Run-Up Benefits Insiders.
December 12, 2006... PLANO, Texas -- Directors and officers at Viewpoint Bank, known until January as Community CU, earned hundreds of thousands of dollars in windfall stock profits last week after the company's share price surged almost 10% in the wake of a...

FHLB Boston Hikes 3Q Dividend.
December 12, 2006... BOSTON -- The Federal Home Loan Bank of Boston declared a third quarter payout of 5.75%, up from 5.50% in the second quarter, recently. For the third quarter last year, the Boston Bank paid 4.25% dividend. The dividend will be paid to...

DFCU Hearing Postponed, Board Candidates Nominated.
December 12, 2006... DEARBORN, Mich. -- Though a hearing in the DFCU Financial Credit Union lawsuit over the CU's ill-fated conversion was postponed, members of the credit union had the opportunity to meet six board candidates endorsed by DFCU Owners United, the...

CEO Accused Of Soliciting Sex With 5 Year-Old Girl.
December 12, 2006... WARREN, Mich. -- Tandem Credit Union CEO David L. Rauch remained in isolation at Macomb County Jail after his arrest for allegedly soliciting sex with a 5-year-old girl by way of the Internet from his office and home computers. Macomb...

Product & Service.
December 12, 2006... Genworth Rolls Out MI Helper RALEIGH, N.C.-Genworth Mortgage Insurance announced a new program designed to help credit unions safely increase the number of mortgage loans made under CUNA's Home Loan Payment Relief Program (HLPR). ...

Payments Technologies Are On Display At BAI Show.
December 12, 2006... LAS VEGAS -- Check processing tools covered the exposition floor at the Bank Administration Institute (BAI) Retail Delivery Conference (RDC), far surpassing displays of card technologies and casting doubt on the advent of a checkless society....

From The Back Room To The Board Room: Biz-Savvy IT Officers Are Moving Into Top Slots.
December 12, 2006... CARSON CITY, Nev. -- Tomorrow's CEO may be a geek packing an MBA. "IT is moving from the backroom to the boardroom," asserted Ron Broaddus, member of the CUNA Technology Council Executive Committee and vice president of information...

Technology News.
December 12, 2006... Tampa Bay CU Redesigns Wedsite Uses 'Flying Dollars' TAMPA, Fla.-Tampa Bay FCU redesigned its website to match a popular advertising campaign it launched. The new website uses one of the primary design elements- "flying money"-that...

Parting Shot.
December 12, 2006... The Most Powerful Women in Banking - 2006 The gala celebration of The 25 Most Powerful Women in Banking, held in New York City on October 23 at The Pierre, had honorees and guests buzzing with enthusiasm and eager to take stock of the...

CU Uses Eye Tracking Studies To Create More User-Friendly Website.
December 13, 2006... MONTEREY PARK, Calif. -- A burst of orange and persimmon floods the eye at the new E1Financial.org. But not for long. "We're ready to change the colors," explained LJ Tarman, vice president, marketing, at the $375-million E1 Financial...

ITems.
December 13, 2006... CheckFree Chooses TriCipher SAN MATEO, Calif.-TriCipher, Inc. announced the signing of CheckFree Investment Services for its Armored Credential System, a multi-factor authentication solution. CheckFree will use TriCipher to increase...

World (Restricted) Web: Keeping CU Staff On Target.
December 13, 2006... FARMINGTON, Utah -- Carol Cordon-Allred is something of an Internet omniscient. The information system specialist at Horizon CU here knows everything about how employees use the Internet-the sites they visit, how long they surf, and what...

Use Of AML Technology Is 'All But Mandated' By Regulator.
December 13, 2006... CUMBERLAND, Md. -- Add anti money-laundering (AML) software to the list of must-have technologies for credit unions. "The NCUA was very adamant that we put in an automated system to review wire transfer activity," said Rick Stewart,...