Shiloh of Alexandria FCU unveiled a new affordable housing program in collaboration with the Virginia Housing Development Agency.

ASU Selects Software System

With the Federal Financial Institutions Examination Committee's deadline for implementing multi-factor authentication (MFA) looming, a series of hacking efforts that have managed to use the MFA movement against itself has some in the industry asking: is MFA really the answer to security issues?

PLANO, Texas - Southwest Corporate FCU's new CEO is in a unique position to hit the ground running, having been with the $10-billion organization since 1992.

DAYTON, Ohio - NCR has integrated DigitalPersona's biometric fingerprint technology as a component of some of its retail point-of-sale payment systems.

Pay By Touch, the acquisitive maker of fingerprint identification technology, has agreed to acquire loyalty pioneer S&H Solutions and its parent, S&H Greenpoint, for more than $100 million.

NEW ORLEANS - Democratic Congressman William Jefferson, the first African American elected to the House in Louisiana since Reconstruction, won easy reelection to the House last week in a special election, despite being the target of a well-publicized corruption probe. Jefferson won 57% of the vote against fellow Democrat, state Rep. Karen Carter to win his ninth term in the House, in a run-off required because Jefferson failed to gain a majority of votes on Nov. 7. Carter was unable to capitalize on a scandal that included allegations the FBI found $90,000 in bribe money in Jefferson's freezer.

* NJ Gateway Federal Credit Union, South Brunswick Township, N.J., co-sponsored a project that donated 900 new Webster dictionaries to third grade students.

SEATTLE - The Federal Home Loan Bank of Seattle, which has been under a supervisory agreement for the past year, said it will resume paying dividends to members-albeit a small one-for the third quarter.

Passwords are everywhere- there are about 1,400 employee passwords at America First Credit Union here-and managing them can be a "nightmare," according to Randy Hunter, network systems manager at the $3.6-billion CU.

ST. LOUIS - The turnout was nothing to brag about-about 60 people showed up last month at the local library where a credit union here held its first online services exposition-but the good news was that members rushed the bill pay booth, spiking adoption rates, and learned a little bit more about navigating the Net.

MADISON, Wis. - A new Filene Research Institute study offers tangible proof of the credit union difference, showing CU pricing to be consumer driven, while bank pricing is profit-driven.

ASU Selects Software System

Industry insiders know credit unions are frequently on the cutting edge of new technology, but a new report shows that CUs are spending as much as twice as much money on technology as mid-size banks.

Multi-factor authentication (MFA) is no cure-all, especially now that phishers are using MFA as a ploy to trick members (see related story, page 1), making member education all the more important.

NCUA Plans Dividend Payout to CUs In 2007

The second annual San Diego County Credit Union Poinsettia Bowl on Dec. 19 will pit TCU (Texas Christian University) versus NIU (Northern Illinois University) on the football field, but the most important initials associated with the game will be ROI.

Michigan State FCU may possibly have cornered the market on a multi-factor authentication tool that can save a CU $50,000 per year in user costs-because the credit union created it itself.

WESTCHESTER, N.Y. - Quorum FCU said it has installed Source Technologies' new 7-Series self-service financial kiosks.

The former president of Grantsville FCU was sentenced to 15 months in federal prison and ordered to pay $60,000 in restitution for embezzling an estimated $120,000 from the credit union.