Is a signon to an SSL site from an http:// page secure?

[Bruce Dawson]

Ted Roche wrote:

> I always thought that you needed to be using an https:// page before  
> sending user names and passwords to log in. My credit union claims  
> this isn't true, and that since clicking the signon button takes you  
> to an SSL page, the information typed in is transmitted securely. I  
> have my doubts. Here's a portion of their claim, from the front page  
> of http://www.navyfcu.org. I'd welcome opinions.
> ...

Their login form is within a '<form name="logon" method=post 
action="https://myaccounts.navyfcu.org/cgi-bin/ifsewwwc?Logon" ...>'. 
Since they are POSTing to an HTTPS site, then the password will go over 
a SSL connection.

--Bruce