NCUA Sounds ATM Upgrade Warning

ALEXANDRIA, Va. - NCUA has joined the CO-OP Network and other ATM industry authorities in reminding credit unions that they have to have all their ATMs up and running with the new encryption standards before the end of 2005. The letter to credit unions didn't reveal anything new about the...

By Staff Writer | August 03, 2004 at 08:00 PM

ALEXANDRIA, Va. – NCUA has joined the CO-OP Network and other ATM industry authorities in reminding credit unions that they have to have all their ATMs up and running with the new encryption standards before the end of 2005. The letter to credit unions didn't reveal anything new about the need to upgrade existing machines to meet the Triple-DES standard, but laid out some of the history behind the change and reminded credit unions that existing machines that do not meet the standard will not be able to communicate with their networks and will be effectively useless.

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