WEST LAFAYETTE, Ind. – Many credit union intranets have quickly morphed from a place to post company picnic announcements to an interactive tool that can allow tellers learn how to conduct complex transactions live without losing eye contact with the member. That's the kind of robust functionality the internal Internet is bringing Purdue Employees Federal Credit Union.

There, two Purdue University students have created an intranet solution that so impressed their credit union that it helped set the guys up in business and now owns a part of the company itself. "Since we turned our new intranet on in March, it's changed the whole complexion of how we can deal with members and with each other," says Bill Connors, veteran CEO of the $385 million CU.

Connors was among several CU executives sharing their intranet experiences with colleagues from more than 60 credit unions across the country during a recent Webinar put on by Callahan & Associates.