PORTLAND, Ore. and SAN DIEGO (12/9/10)--The U.S. Social Security Administration (SSA) has awarded ID Analytics and ID Experts a five-year blanket purchase agreement to help the SSA protect against and respond to breaches of personal information. ID Analytics is a CUNA Strategic Services partner. ID Analytics and ID Experts will provide the SSA a suite of services to minimize and protect against data compromises in conformation with SSA and Office of Management and Budget compliance requirements. The agreement is the result of an open market competitive procurement. Under the agreement, ID Analytics will provide the SSA with its ID Analytics for Data Defense solution to assess the risk of harm from possible and actual breaches. ID Experts will provide notification services, call center support, credit monitoring and personal restoration services for victims of identity theft. If the SSA suspects a data breach, ID Analytics and ID Experts will provide a full range of capabilities, such as forensic analysis of computer systems and networks; determination of steps to remediate the vulnerabilities; and investigation of the cause of the breach. ID Analytics will use its patented technology to analyze the potential risk of identity fraud for individuals involved in the incident.
TALLAHASSEE, Fla. (12/9/10)--Southeast Corporate FCU in Tallahassee, Fla., has established an arrangement with Sallie Mae to offer the Smart Option Student Loan program to member credit unions. The program is designed to assist families in meeting the rising cost of college while helping students graduate with less debt and pay off the loan faster after graduation. Students pay interest while in school and graduate with less debt, compared to other longer-term private loan alternatives in which no payments are made until after graduation, said the corporate. A typical freshman can save 30% to 50% on finance charges over the life of the loan. With the loan’s shorter repayment period, a member can pay off the loan five to eight years faster after graduation, compared to a standard 15-year interest-deferred private loan. The member may select either a $25 monthly in-school payment plan or opt to pay interest only while in school. Also available are an on-time payment reward and interest-rate discounts for automatic payments. “This opens the door for credit unions to establish a long-term financial partnership with young adults,” said Brad Miller, president/CEO of Southeast Corporate FCU.