How Credit Unions Are Investing Technology Dollars
ID Theft Assistance For All
PALO ALTO, Calif.-Stanford Federal Credit Union (SFCU) said it will begin providing all of its members with identity theft services using Identity Theft 911's new retainer-based RB421 program. The company said SFCU is the first financial institution in the country to provide identity theft victim assistance and consumer education for every one of its account holders under the program. There will be no charge to members. Under the RB421 program, Identity Theft 911's victim resolution services will be available to every member, all of whom will be given access to consumer education programs on identity theft threats and defenses.
"Our members' privacy and security has always been a top priority for us," said SFCU CEO John R. Davis. "SFCU has not experienced any direct breaches or data compromises. We've taken significant steps to ensure that we never do, but the Identity Theft 911 program is an additional layer in our program to give our members peace of mind. We also needed an affordable way to cover every member, without exception. With this retainer-based approach, we pay a fixed monthly fee at an extremely reasonable price point. For a financial institution of our size, the cost of the program can be absorbed without passing fees or charges to our members for the service.
For info: www.identitytheft911.com
Online Mortgage Option Added
WOBURN, Mass.-Empire FCU, Syracuse, N.Y., has become the first in its state to turn to MortgageClick for its online lending solution. The $289-million Empire said it made the move because it sees an opportunity to improve the service levels by offering the robust on line lending solution. In addition, members can apply and be approved on the spot at all branch locations. MortgageClick was established to create a network of credit unions sharing the Prime Alliance Solution. ECU is the 80th institution to select MortgageClick for its lending technology needs. For info: Dan Hanlon at dan
Tinker Offering E-Statements
TINKER AIR FORCE BASE, Okla.-Tinker FCU said it has begun offering electronic statements and online check images to its 175,000 members.
Members of the $1.3-billion credit union can sign up online for the services. The e-statements will replace paper statements sent to members, saving the credit union mailing, postage and handling costs.
SSFCU First With ImageWay
TAMPA, Fla.-Suncoast Schools FCU has become the first financial institution to introduce check-imaging through Diebold's ImageWay ATM solution in conjunction with the recent enactment of Check 21.
ImageWay allows financial institutions to capture check images at the ATM, transport them to its server and format the data so it is compatible with the institution's back-office image processing.
Suncoast Schools FCU plans to introduce full deposit automation on its 90 depository ATMs over the Diebold solution next year.