DATE: December 2002
LETTER NO.: 02-CU-17
TO: All Federally-Insured Credit Unions
SUBJ: e-Commerce Guide for Credit Unions
ENCL: e-Commerce Guide for Credit Unions (in PDF Format)
The purpose of this letter is to provide NCUA’s e-Commerce Guide for Credit Unions.
The guide offers information to assist credit unions engaging in, or considering, e-Commerce activities (electronic delivery of financial services via the Internet). Credit unions can use this information as a guide to aid in the planning, contracting, delivery, and support of e-Commerce activities.
Offering e-Commerce services may provide benefits to credit unions and their members. However, the use of the Internet can also increase the amount of risk to the credit union. The enclosed guide focuses on processes to assist credit unions in managing the risks related to e-Commerce.
If you have any questions, please contact your NCUA Regional Office or State Supervisory Authority.
Sincerely,
/S/
Dennis Dollar
Chairman