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Article: The Wide World Web Pioneer: The Story of How A Credit Union Became The First Financial Institution On The Internet.(Stanford Federal Credit Union)
- Article from:
- Credit Union Journal
- Article date:
- June 23, 2003
- Author:
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With banks' deep pockets and aggressive investments in technology, it's easy to lose sight of the fact that the very first financial institution to not only have a web presence but to actually transact business on the Internet was not a bank but a credit union-and it wasn't even a billion-dollar credit union, at that.
It was Stanford FCU in Palo Alto, Calif. And even today, nearly 20 years after the CU sent its first e-mail, former CEO Warren Marshall suggests that really, Stanford FCU was about the only credit union-perhaps even the only financial institution-where such a thing could happen.
"I really couldn't have done it anywhere else," Marshall told ...