First Union will become part of the Smithsonian Institution's Permanent Research Collection of Information Technology Innovation at the National Museum of American History when the 1997 Collection is formally presented to the Institution in Washington, D.C. today. The collection serves a critical historical purpose by helping the National Museum of American History record the information technology revolution and the impact it has on our lives.
"To be recognized by our peers for the work we have done is an honor," said Edgar Brown, senior vice president for First Union's Relationship Access Products. "Our mission at First Union is to provide our customers with banking services whenever, wherever and however they desire. Consumers have just begun to embrace the full potential of online banking, and we are proud to be part of this exciting new trend shaping our world today."
"First Union is using information technology to create strides towards remarkable social improvements in finance," said Dr. David Allison, chairman of the National Museum of American History's Division of Information Technology and Society. "We are delighted to have this excellent example of how information technology is being used to improve our world in the national collection."
Each year the Computerworld Smithsonian Chairmen's Committee nominates individuals who are using information technology to improve society for inclusion in the Smithsonian's National IT Innovation Collection. Founded in 1989, the Computerworld Smithsonian Program searches for and recognizes the organizations who have demonstrated vision and leadership as they strive to used information technology in innovative ways across ten categories: Business and Related Services; Education and Academia; Environment, Energy and Agriculture; Finance, Insurance and Real Estate; Government and Non-Profit Organizations; Manufacturing; Media, Arts and Entertainment; Medicine; Science; and Transportation.
This year 321 innovative applications of information technology from 39 states and 21 countries were presented to the Smithsonian. First Union was named one of the six finalists in the Finance, Insurance and Real Estate category.
First Union offers its customers the following remote banking options: CYBERBANKINGsm - With First Union's Internet banking program, customers can access Cyberbanking from any computer with World Wide Web access. By simply going to First Union's home page at www.firstunion.com, customers can click on Cyberbanking, enter their passwords and check their balances in their checking, savings, money market, CAP, credit card, IRA, loans and time deposit accounts. Cyberbanking customers can also pay bills, transfer funds within First Union, check recent account activity, re-order checks and issue stop payment requests.
Quicken® - One of the leading personal finance softwares in the country, Quicken allows First Union customers to pay their bills online and schedule recurring payments such as car payments or mortgages every month. Customers can also obtain balances in their checking, savings, money market, CAP and credit card accounts and review recent account activity as well as transfer funds between First Union accounts. Quicken allows customers to download account information automatically, balance their checkbook electronically, set up and track budgets, monitor expenses and plan for future savings.
Microsoft® Money - Easy to use, Microsoft Money allows First Union customers to pay their bills online and schedule recurring bills every month. Customers can also obtain balances in their checking, savings, money market, CAP and credit card accounts and review recent account activity as well as transfer funds between First Union accounts. Money customers can also download account information automatically, balance their checkbook electronically, set up and track budgets and categorize expenses to record tax-related items.
Telephone BillPay - For consumers who prefer not to use a computer, First Union offers Telephone BillPay 24-hours a day. From any touch-tone phone customers can pay their bills, set up recurring payments, check recent account activity, transfer funds between First Union accounts and re-order checks. Telephone BillPay also allows customers to obtain their balances on their checking, savings, money market, CAP, credit card, IRA, consumer loans and time deposit accounts.
America On Line - First Union customers subscribing to AOL can access their accounts by typing in the key word "FUNB" which will take them to the First Union home page. There, customers may obtain balances on their checking, savings, money market, CAP, credit card, IRA, consumer loans and time deposit accounts as well as view any recent account activity. Customers can also reorder checks, issue stop payment requests and transfer funds between their First Union accounts. Each of these remote banking programs is offered with a three month trial offer. All service fees will be waived if a customer maintains a $5000 average balance in their primary First Union checking account balance or is CAP account holder.
Founded in 1846, the Smithsonian Institution is dedicated to the increase and diffusion of knowledge. The materials submitted in the Finance, Insurance and Real Estate category on behalf of First Union National Bank will enrich the Smithsonian's growing permanent collection on the Information Age, one of the most important of its kind in the world.
When the 1997 Collection is formally presented to the Smithsonian today, First Union National Bank's case study will join over 2,000 other examples of innovative uses of information technology, available to citizens, scholars and researchers world wide. Case studies are available on the Innovation Network.
Charlotte-based First Union Corp. provides financial products and services to more than 12 million corporate and retail customers nationwide. First Union is the nation's sixth-largest bank holding company with assets of $137 billion as of March 31, 1997.
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