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Products Archive

Products

Verisign reports 19 million in losses for first quarter

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MOUNTAIN VIEW, Calif. (5/12/08)--Verisign announced a net loss of $19 million in the first quarter of 2008, according to a statement released Thursday. The company reported revenue of $354 million for the first quarter of this year. Generally accepted accounting practices (GAAP) results indicated a $25.5 million loss on assets for sale, and a loss of $26.5 million for continuing and discontinued operations in a restructuring. Non-GAAP results indicated a net income of $44 million for the first quarter of 2008. Revenue for Versign core businesses was $223 million, up 5% from the fourth quarter of 2007. During first quarter 2008, VeriSign also announced that more than 100 credit unions have gone live on its Encrypted and Extended Validation SSL certificates (EV SSL). Verisign provides infrastructure services for voice, video and data networks at financial institutions, including credit unions.

Products and Services briefs (05/09/2008)

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* COLUMBUS, Ohio (5/12/08)--Credit unions interested in learning more about managing risks can attend a workshop on vendor risk management at Corporate One FCU’s second-annual Enterprise Wide Risk Management (EWRM) Conference, June 24-25 in Chicago. Managing vendor risk is relevant to credit unions, and “it’s important to have a formalized risk management model that covers every process a credit union performs,” said Joseph Ghammashi, Corporate One’s chief risk officer. Rodney Hood, National Credit Union Administration vice chairman, also is scheduled to speak at the conference on the agency’s evaluations of credit unions’ vendor relationships. Earlier this month, NCUA published a letter to credit unions referencing three elements of a risk management program: risk assessment and planning, effective due diligence, and risk measurement, monitoring and control ... * KING OF PRUSSIA, Pa. (5/12/08)--SEDONA Corp.’s Intarsia customers will be able to access CU ink Inc.’s marketing services after the two recently signed an extended partnership agreement. CU ink offers a web-to-print solution, Marketing on Demand, which combines member and prospective member data from Intarsia to provide demographic-based marketing collateral. CU ink provides printing, marketing consulting and statement processing for credit unions in the U.S. and overseas. SEDONA is a software application and services provider ... * BOSTON (5/12/08)--Equifax, a credit information provider for financial institutions including credit unions, announced that it will release Equifax Mortgage Market Risk Insight, a tool for investors to analyze mortgage loan performance. The tool provides updated credit information on mortgage borrowers by zip code, and then narrows the information to reflect a borrower’s credit health and credit capacity. The tool is the latest addition to Equifax’s suite of mortgage services ... * SAN FRANCISCO (5/12/08)--Zopa, a peer-to-peer lending company, has grown its community to more than 10,000 members--with some borrowers achieving a negative effective rate on their loans. Zopa borrowers receive a loan from one of six partnering credit unions with an initial interest rate based on their credit profile. The effective rate is reduced every time someone invests in a Zopa certificate of deposit (CD) linked to that loan. Zopa provides borrowers with tools to create profiles and encourages people in their social networks to invest in Zopa CDs, which are insured up to $100,000 ... * WAITE PARK, Minn. (5/12/08)--Gary Hess and Bruce Hagbeg, two financial services industry veterans, have formed RTE Financial Services LLC to provide web-based applications and consulting services to financial institutions including credit unions. RTE will focus on web-based account opening and lending software. Hagberg previously was director for the credit union business unit at Wolters Kluwer Financial Services. Hess held positions as vice president of software development and support, and product development attorney at Wolters Kluwer ...