Discussion Points
1. To what extent are CORE Credit Union’s networks as converged? Identify and briefly describe additional network convergence opportunities.
A1. The Core Credit Union initially used traditional methods of financial transactions. Credit Unions provide financial services to clients like Banks but they are cooperatives and non-profit organizations unlike banks.it is in existence since four decades and the versatility of Information Technology contributed a major chunk in the growth of the Core Credit Union’s infrastructure and operations. In Georgia, they were the first to adopt IT infrastructure for their operations, thereby improving the quality of service to client. The main leveraged were the existing clients who moved …show more content…
The Core Credit Union have VPN connection and reputed firewall intrusion protection services via third party system to provide utmost security. Triple DES encryption is used to protect the ATM transaction data across network.
Conclusion
The network convergence enabled high end services to clients and it enhanced the growth and smooth operation of Core Credit Union.
Reference: CORE Credit Union Case Study 2. 2. Visit CORE’s Web site (www.corecu.org) to get richer picture of the full range of products and services offered by the credit union. Identify and briefly describe additional products and services that CORE could offer its members.
A2. Core Credit Union has expanded its financial services in all areas of financial niche to serve their clients in the best possible way catering to all the financial requirements. The products and their services are quite attractive and useful for a person looking for smooth functioning of financial transactions.
Valued Products
Certificate of Deposits
Core Credit Union offers a saving certificate that could be started with a minimum balance of $500 and has a term of 3 to 60 months as per the convenience of the client. The return of CD’s are attractive and they are compounded monthly. The access to CD’s is 24*7 via online banking and COREY.
IRA …show more content…
CORE relies multiple third-parties to deliver its products and services? Identify the advantages and disadvantages of using this approach to serve its members? A4.Core Credit Union is reliant on third party services to deliver its products and services to their clients. The third party services has its advantages and disadvantages while providing services to its clients.
Advantages
Cost Efficient
For non-profit organisation Core, third party services are cost efficient because putting the services in another hand saves the cost of infrastructure and manpower to carry out the operations. Even the maintenance cost is lowered.
Secured & Enhanced Delivery
Handing the services to a proficient service provider enhances the delivery of required services rather than putting own nose in an unknown area of operation.
Pricing
In a competitive market, the prices differ of different service providers so you have the leverage to choose among the list whose services is compatible to your organization with reasonable and affordable pricing.
Software Updation
Acquisition of third party services puts you off from the concern of network management and software updates. Timely updation improves the quality of network services, without incurring extra
1. To what extent are CORE Credit Union’s networks as converged? Identify and briefly describe additional network convergence opportunities.
A1. The Core Credit Union initially used traditional methods of financial transactions. Credit Unions provide financial services to clients like Banks but they are cooperatives and non-profit organizations unlike banks.it is in existence since four decades and the versatility of Information Technology contributed a major chunk in the growth of the Core Credit Union’s infrastructure and operations. In Georgia, they were the first to adopt IT infrastructure for their operations, thereby improving the quality of service to client. The main leveraged were the existing clients who moved …show more content…
The Core Credit Union have VPN connection and reputed firewall intrusion protection services via third party system to provide utmost security. Triple DES encryption is used to protect the ATM transaction data across network.
Conclusion
The network convergence enabled high end services to clients and it enhanced the growth and smooth operation of Core Credit Union.
Reference: CORE Credit Union Case Study 2. 2. Visit CORE’s Web site (www.corecu.org) to get richer picture of the full range of products and services offered by the credit union. Identify and briefly describe additional products and services that CORE could offer its members.
A2. Core Credit Union has expanded its financial services in all areas of financial niche to serve their clients in the best possible way catering to all the financial requirements. The products and their services are quite attractive and useful for a person looking for smooth functioning of financial transactions.
Valued Products
Certificate of Deposits
Core Credit Union offers a saving certificate that could be started with a minimum balance of $500 and has a term of 3 to 60 months as per the convenience of the client. The return of CD’s are attractive and they are compounded monthly. The access to CD’s is 24*7 via online banking and COREY.
IRA …show more content…
CORE relies multiple third-parties to deliver its products and services? Identify the advantages and disadvantages of using this approach to serve its members? A4.Core Credit Union is reliant on third party services to deliver its products and services to their clients. The third party services has its advantages and disadvantages while providing services to its clients.
Advantages
Cost Efficient
For non-profit organisation Core, third party services are cost efficient because putting the services in another hand saves the cost of infrastructure and manpower to carry out the operations. Even the maintenance cost is lowered.
Secured & Enhanced Delivery
Handing the services to a proficient service provider enhances the delivery of required services rather than putting own nose in an unknown area of operation.
Pricing
In a competitive market, the prices differ of different service providers so you have the leverage to choose among the list whose services is compatible to your organization with reasonable and affordable pricing.
Software Updation
Acquisition of third party services puts you off from the concern of network management and software updates. Timely updation improves the quality of network services, without incurring extra