WERE READY FOR Y2K
A MESSAGE FROM THE PRESIDENT OF IDAHO BANKING COMPANY
Maintaining your confidence in our Bank has always been
our number one priority. We have taken the
Y2K glitch seriously (weve been working on the problem since 1997), and we've
upgraded or replaced all our computer systems to bring them into Y2K compliance. We have completed testing our mission-critical
systems and are pleased to report that the tests were successful. We are now using Y2K-ready systems in all our
daily operations. We have also been working
with our suppliers and vendors to ensure Y2K readiness.
Federal and State banking regulators have examined our
Bank several times not only for Y2K compliance, but for our contingency planning as well. Our back-ups and contingency plans are in place to
minimize disruptions and maintain operations and service in the event problems
While we cant say for sure that there will be
absolutely no glitches in the early days of the new millennium just as we
cant say everything will work perfectly 100 percent of the time in our normal
operations daily we fully expect the transition to the year 2000 to be uneventful
for our customers. In fact, well be
open for a full day of business on Friday, December 31st with our entire staff
on hand. Theyre dedicated to ensuring a
smooth passage into next year and that a normal business day greets customers on Monday
morning, January 3, 2000.
And remember, regardless of Y2K, each of our depositors
remains insured up to $100,000 by the Federal Deposit Insurance Corporation.
If you have any questions, please stop by or call us. We are eager to help and appreciate your business. We look forward to serving you each and every day,
in 2000 and beyond.
Please read on for other helpful information including important Web sites to assist you with Y2K issues.
Cortland D. Rounds
Idaho Banking Company (IBC) is prepared for the year 2000
date change. We can make this statement for
the following reasons:
IBC has undergone rigorous, detailed assessments by Federal and State regulators
that are unsurpassed by any other industry segment.
All systems have been thoroughly examined to determine the extent and complexity of
their vulnerability. Evaluations included
hardware, software, mechanical and other critical/noncritical systems.
In each case where a potential problem was identified, action was taken to address
it. Mission-critical systems (those that
would affect customers most directly) were fixed immediately. Other systems have either been made Y2K ready or
will be well before the date change.
Every mission critical system has been tested and others will be tested before the
date change. In many cases, Y2K-ready systems
are in use now. There is no need to have
large amounts of cash on hand because the usual payment methods, such as checks, credit
cards, debit cards, ATMs and Fedwire, have been tested extensively and will be Y2K
Plans are in place to ensure that operations continue in the unlikely event a
system fails. For example:
Complete back-up records on all customer accounts are maintained.
Service providers (phone companies, utilities, and others) have been assessed for
Sufficient cash will be available for customer requirements.
The evaluation and testing process began over three years ago and is ongoing. It will continue well into the Year 2000.
SYSTEMS EVALUATED FOR Y2K READINESS:
Electronic benefits transfer systems (including direct deposit and direct payment)
Wire transfer systems
Electronic data interchange systems
Internal hardware and software (including systems for core banking, investments,
fiduciary, management information, retail delivery and operating)
Automated clearing houses
Check clearing providers
Credit card merchant and issuing systems
Audio response systems
Embedded software systems (including vaults, security and alarm systems,
telephones, fax machines and HVAC)
Programming languages and tools
All third party vendors of computer hardware and software
FOR FURTHER READING we
have provided the following Web sites and/or links dedicated to Year 2000 issues that may
be of interest to you:
Board of Governors of the Federal Reserve System http://www.federalreserve.gov/y2k/
Idaho Department of Finance
Federal Deposit Insurance Corporation
FDIC Consumer News
US Small Business Administration
Y2K Planning for Consumers
Federal Trade Commissions Consumer Alert
This web site has been
developed for Idaho Banking Company by