SEATTLE – BioPassword, the developer of a multi-factor authentication scheme that monitors an individual’s personal keyboard strokes, said it has received $11 million in new funding from venture capital investors. The latest round of funding included pledges from RRE Ventures, Citrix Systems, Ignition Partners and OVP Venture Partners. The company has secured a total of $24.5 million in venture funds so far. Among BioPassword’s clients are Forum CU, Parda FCU and San Antonio City Employees FCU.

RICHMOND, Va. – Venerable security firm Brink’s Inc., under siege by two investment firms, said yesterday it will study a proposal by Hedge Fund Pirate Capital for two seats on the company’s 11-member board. Pirate, the company’s largest shareholder, and MMI Investors, another large Brink’s holder, have called on the cash carrier and security systems provider to hire an investment bank to shop the company. Pirate, through one of its vehicles called Jolly Roger Fund LP, has accumulated an 8.5% stake in Brink’s, while MMI has accumulated about 8%. Brink’s said it will study Pirate’s nomination of its founder, Thomas Hudson, and general counsel, Christopher Kelly, to the Brink’s board and will include its own recommendation when it mails annual proxy materials to shareholders this spring. Boston-based Pirate manages about $1.7 billion in assets. Brink’s, which provides security services and cash transportation for thousands of credit unions, is the latest large credit union outsourcer under siege, following recent takeovers of Open Solutions, Digital Insight and John H. Harland Co.

KENSINGTON, Md. – Management of Lafayette FCU told members yesterday they were disappointed their auditors had withdrawn their certification of the conversion to bank and were awaiting additional information. The credit union management, which has refused all media inquiries since the vote came into question over the past few weeks, expressed it position in a notice posted on its website yesterday. The credit union told members it had been notified by national auditing firm RSM McGladrey that because of questions raised by NCUA it had discovered errors in the vote to switch to bank, which passed by just 18 votes out of almost 5,100 cast. Because the questions could impact the vote, the auditors withdrew their certification while it reviews the issues raised by NCUA.

DAYTONA, Fla. – A convicted bank robber missed prison so bad that he robbed Kennedy Space Center FCU yesterday so he could go back. Forty-four-year-old Danny Villegas walked into the credit union and announced he was robbing it, then sat down and told employees to call 911, while he sat on a couch and waited for police to arrest him. Villegas, apparently out of work and homeless, told police he preferred prison to finding a job. Villegas served five years in prison for robbing a bank 10 years ago.

KENSINGTON, Md. – The national auditing firm RSM McGladrey, which oversaw the members vote at Lafayette FCU to convert to a bank, has rescinded its certification of the controversial 90-day ballot. In a letter to both the credit union’s Washington attorney Richard Garabedian, and to NCUA, McGladrey said it has discovered certain errors in the vote tabulation and because the vote was so close–the conversion passed by just 18 votes out of 5,1000 cast–the firm is withdrawing its certification of the process. The auditing company said it is reviewing the nature and the causes of the error. Members of the $330 million credit union have called on NCUA to reject the vote because of alleged improprieties and irregularities in the balloting. NCUA, which is required to approve the vote, is reviewing numerous member complaints.

KENSINGTON, Md. – The national auditing firm RSM McGladrey, which oversaw the members vote at Lafayette FCU to convert to a bank has rescinded its certification of the controversial 90-day vote. In a letter to both the credit union’s Washington attorney Richard Garabedian and to NCUA, McGladrey said it has discovered certain errors in the vote tabulation and because the vote was so close–the conversion passed by just 18 votes out of 5,1000 cast–the firm is withdrawing its certification of the vote. The company said it is in the process of reviewing the nature and the causes of the error. Members of the $330 million credit union have called on NCUA to reject the vote because of alleged improprieties and irregularities in the balloting. NCUA, which is required to approve the vote, is reviewing numerous member complaints.

DAYTON, Ohio – NCR Corp. shares surged 7% to $45.12 this morning after the company announced plans for a tax-free spin-off its successful Teradata data storage operations to shareholders. The spin-off will leave two publicly traded companies, including Teradata, with $1.5 billion in annual revenues, and the company’s core automated financial services operations, which includes ATM and financial kiosks manufacturing and services, retail self-check-out, automated bill payment, and airline, hotel and hospital self-service kiosks. Completion of the spin-off is contingent on several conditions, including approval by the Internal Revenue Service. Approval of NCR shareholders is not required. JP Morgan Chase is advising NCR on the spin-off.

DAYTON, Ohio – NCR Corp. shares surged 7% to $45.12 this morning after the company announced plans to for a tax-free spin-off its successful Teradata data storage operations to shareholders. The spin-off will leave two publicly traded companies, including Teradata, with $1.5 billion in annual revenues, and the company’s core automated financial services operations, which includes ATM and financial kiosks manufacturing and services, retail self-check-out, automated bill payment, and airline, hotel and hospital self-service kiosks. Completion of the spin-off is contingent on several conditions, including approval by the Internal Revenue Service. Approval of NCR shareholders is not required. JP Morgan Chase is advising NCR on the spin-off.

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PASADENA, Calif. - Wescom CU is expanding its business hours to include Sunday hours. In addition, branches will be open until 7 p.m. on weekdays.

WEST PALM BEACH, Fla. - Credit unions didn't really join the rest of the world in partying like it was 1999. That's because credit unions, like businesses around the world, were worried about bugs. In this case, the Y2K bug. Many were predicting if not a widescale meltdown of every system operated by a computer when the clock hit 2000, then certainly enough problems that some credit union members and bank customers would see their balances wiped out. Here's a look at our Top 10 stories from 1999:

Miller Named To Head Up ACCU

* Champion Credit Union, Arden, N.C., named Cassidy Lamb winner of the credit union's coin sorting machine contest.

WASHINGTON - NCUA is being strongly urged by one group to understand that "low-income" and "modest means" are not interchangeable terms.

Congress isn't just clueless. They are dynamically and robustly anti-clueful. A lot of Congress wants to fix a problem they are unsure of.

WEST PALM BEACH, Fla. - The Top 10 stories of 1998 could well all be related to one thing: getting the Credit Union Membership Access Act passed by Congress.

In Houston, a robbery at Greater Houston FCU was thwarted when federal and local law enforcement agencies were attending a training session in the same building as the credit union. At Ft. Belvoir FCU, a man who allegedly robbed the credit union returned a month later to wire the money to a Texas bank. The man went to the same teller he had robbed. In California, a suspect in a robbery was identified because he was wearing a business suit - and pink slippers.

ONTARIO, Calif. - CO-OP Financial Services has signed with CU Anytime to develop an ATM management service for credit unions.

BrightStar Credit Union, Sunrise, Fla., announced that Dr. Dorothy Johnson received the Sojourner Truth Award from the National Association of Negro Business and Professional Women's Club, Inc.

HOLLYWOOD, Calif. - What was Chuck Bruen, CEO of First Entertainment Credit Union, thinking when he agreed to put on a suit, then roll up his pant legs and wade into the Pacific Ocean holding a laptop computer for a photo that appeared on the cover of the very first issue of The Credit Union Journal?