This 'bank' is running on Wordpress - 3.5.1 from what I can tell . Isn't that vulnerable ?
The customer login page takes you somewhere else  - seems sketchy.
I can't find any information about their interest rates - why should I put my money with them?
NOTE: Change the /237/ in link  and you will see its running portals for other banks... This bank is just a cheap domain outsourcing their entire infrastructure on the cheap. No.
It seems like a interesting option (they have some decent ideas in place) but I agree it also seem sketchy/fly by night. It is only a small credit union for people in a specific part of NJ, USA.
"Persons who live, work, worship, attend school, or participate in associations headquartered in New Brunswick or Highland Park, New Jersey"
Am I misunderstanding what this means, or are they saying you have to live there in order to be a member?
This makes it more difficult to establish an open-to-everyone web-based credit union; you basically have to have some sort of online community already in place, and attract members from that community.
Nevertheless, there are some web-based credit unions that have been able to successfully meet the requirements ... however, this explains why you don't see the cooperative equivalent of an ING Direct/Capital One 360.
Even so, I do hope that either the regulations change or some established web-based credit unions are able to attract people away from the for-profit banks, because credit unions, being member owned, never put profits before people. (But if they DO happen to make a profit, it goes back to the members, not to some outside shareholder.)
EDIT: See "Persons participating in programs to alleviate poverty or distress that are located in the approved area" on the members page
I'm really not sure why I would normally need access to a physical branch. I once had to get paperwork notarized at another bank, but that only cost me $5 and USAA probably would have sent a notary out if that paperwork had anything to do with them.
I don't know if he is right or not, but I've been a die-hard CU member for the last 12 years, and would never go back to a bank for my personal finances.
As far as I can gather from Wikipedia, it seems that in other languages, the term for 'Credit Union' still includes the word 'bank', so that might be the confusion. Still, I don't believe my bank technically is a credit union. Also, bankers here aren't dicks.
They are working on quite a bit at the moment; their site might appear 'sketchy' at first glance but it seems like this is only the beginning and they have some pretty serious plans for their future.
Also, usually credit unions are linked to a small commub you etc & help finance things in that community. Is there going to be a specific focus for this bank?
Is it giving low costs loans to people who want to start businesses that happen to use the internet, or is it going to give loans to businesses that help facilitate internet infrastructure.
The website made it look like they'll give a low interest loan to anyone who simply uses the internet & the only reason that condition seems to be there is because you have to use the internet to get to the credit union. More likely just low cost loans to whoever is a member of the Internet Credit Union. Doesn't really seem to have any cooperative aspect to it about promoting the internet as a community.