Publications & Resources

February/March 2007
Focus: Balance Sheet Management

WIB Service Corp Endorses New VIPs Equilar for Executive/Board Compensation Analysis & USBank-MoneyPass Surcharge-Free ATM Services; Announces Merger & Expanded Services of VIP SecureWorks

By Anne K. Scully , President, WIB Service Corp.

“Even if you are on the right track, you will get run over if you just sit there.”
~Will Rogers

2007 is here and the WIB Service Corporation is already on the move, identifying and finding solutions for our bankers’ needs and wants, whether it be easing your regulatory compliance burden or enhancing your customer acquisition and fee opportunities. Our goal is to validate your WIB Membership ROI not only through our extensive research, analysis and recommendation of a high-quality provider but also through our negotiation of a “WIB Member Only” price or other competitive advantage.

We’re pleased to announce we’ve scored on both points as we announce our two new endorsed “Value & Income Program” - VIP - Partners: Equilar, a leader in executive and board compensation analysis; and MoneyPass, a nationwide surcharge-free ATM network service for community banks.

Equilar—Leader in Compensation Analysis

WIB Service Corporation is pleased to announce its endorsement of Equilar to provide publicly listed WIB members (banks and associate members) with information, products and tools to analyze, benchmark and disclose executive and board compensation analysis.

Equilar offers a full suite of easily assessable, online, integrated tools and databases through which WIB members can track and analyze executive compensation, director pay, equity plans and practices, trends in equity awards. It also enables them to identify examples of other companies adopting the recent SEC executive compensation disclosure changes.

Non-publicly listed WIB members will find Equilar’s services valuable because the valuable information regarding developments in the executive compensation process will help them to stay abreast of current, best practices regarding governance and disclosure.

WIB members receive pricing discounts on Equilar’s “ExecutiveInsight” subscription service. In addition, WIB members will receive Equilar’s annual compensation survey of WIB members.

US Bank-MoneyPass: National Surcharge-Free ATM Network

It’s no secret: Surcharge-free ATM access is a growing need, especially for community banks. Consumers are increasingly seeking both convenient AND low cost cash access. Recent trends reflect consumer account “movement” either to “large ATM deployer” banks or banks that participate in a surcharge-free ATM network. In a recent American Banker survey, more than one out of five individuals said they would “very likely” change financial providers to one that was part of a national surcharge-free ATM network.

The WIB Service Corporation has found a solution to meet its banks’ need. We’re pleased to announce the endorsement of MoneyPass®, a national surcharge-free ATM network.

The MoneyPass® network is the second largest - and fastest growing - surcharge-free ATM network in the U.S. Since its launch in 2003, it now includes over: 650 participating Financial Institutions (both issuers and acquirers); 22 million cardholders; and 15,000+ ATMs (75% owned by Financial Institutions). Nearly 200 new Financial Institutions joined the network in 2006. Some of the larger bank participants in WIB’s footprint include U.S. Bank and Zions Bank. Unlike other surcharge-free ATM networks, nearly 75% of the ATMs in MoneyPass are owned by Financial Institutions.

Bank participants join the MoneyPass network on a reciprocal basis. That is, banks add their own ATMS to the network—continuing to grow the overall number of ATMs, and making the program more attractive. Bank participants must give up the surcharge income on those ATMs; however, bank participant data indicates that the lost surcharge income is more than offset by a 200%-400% transaction volume increase and resulting increase in interchange income.

WIB Service Corporation has negotiated very attractive pricing and terms for WIB members - of all size or ATM count—to join MoneyPass:

50% discounts on implementation and monthly administration fees;
50%-60% discounts on card royalty fees.

WIB Member Benefits:

Smaller community banks receive card pricing normally offered only to larger regional banks having a significant card base.

Community banks that want to expand their debit card base but which own only a handful of ATMs, can expand customer acquisition opportunities.

Community banks can take a more consumer-friendly approach to their existing ATM card business through participation in a surcharge-free network.

WIB-Endorsed SecureWorks and Lurhq Merge—
Create Stronger Leader in Managed Security Services Industry

In late 2006, WIB-endorsed SecureWorks merged with Lurhq. The new company continues to operate under the SecureWorks name.

According to the Yankee Group and other industry analysts, the merger of SecureWorks and Lurhq is a win-win for both companies and their clients:

Each has previously focused on different aspects of MSSP services. The merger now pairs SecureWorks’ network intrusion prevention for the outside of the network with Lurhq’s internal network monitoring for protecting against the internal threat.
The “inside-outside protection” combination greatly expands the breadth and depth of the company’s services. It now is an outstanding MSSP industry leader with competitive, robust security solutions, cutting-edge IPS and SIEM services, and a highly skilled research team.

From our perspective, the merger has resulted in an MSSP that can seamlessly protect any bank - from de novo and small community bank up to and through regional and money center financial institution. SecureWorks’ client base now includes community banks and Fortune 500 entities. Companies will benefit from the new expanded solution set and SecureWorks’ ability to customize their security offerings to fit the needs of any organization.