Board Member Hyland Outlines
IT Issues
at CUNA’s Technology Council
Orlando, FL, August 4, 2006 - Speaking today before 150 IT professionals attending CUNA’s Technology Council conference, Board Member Gigi Hyland underscored the crucial role of IT professionals as strategic partners in assuring that credit unions thrive in the future. Among the topics discussed were upcoming requirements to deploy multifactor authentication, as well as data security, plastic card fraud, and ID theft.
“Credit unions are all about serving their members,” said Hyland, “IT is the cornerstone from which credit unions build their delivery of services, security of member data, and compliance efforts.”
In addition to discussing IT issues, Hyland addressed ongoing regulatory issues facing the NCUA and credit unions. In particular, the Board Member discussed field of membership, credit union conversions to mutual savings institutions, and the agency’s data collection pilot. “NCUA is charged with providing the GAO with data and analysis of credit unions’ service to people of modest means. The response to GAO, however, must take into consideration of each credit union their specific field of membership, and efforts to reach out to all segments of their membership,” said Hyland.
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of over 85 million account holders in all federal credit unions and the majority of state-chartered credit unions.
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