Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
ITCUA selects FSCC for correspondent CU program
SAN DIMAS, Calif. (6/4/09)--Financial Service Centers Cooperative Inc. (FSCC) announced that Information Technologies Credit Union Association (ITCUA) has selected FSCC to provide settlement support for credit unions that participate in its Correspondent Credit Union Program (CCUP). With the dissolution of ITCUA, its remote cash access program for credit unions will now be settled through FSCC’s CIMple Settlement product. ITCUA has provided credit unions with access to CCUP for years, but has to scale back due to the sluggish economy. The CCUP program will remain largely unchanged, but CIMple Settlement will be implemented to settle transactions generated through CCUP and to automate the process, eliminating back-office workload. “These difficult economic times require even greater cooperation among credit unions and the organizations that serve them,” said Sarah Canepa Bang, FSCC president/CEO. FSCC plans to design a website to provide information about CCUP and CIMple Settlement. The site will provide lists of 350 access points through CCUP, a list of transactions that may be performed and instructions on use. FSCC also intends to provide expanded disaster recovery and business continuity planning services to CCUP credit unions. FSCC is a credit union Shared Branching Network that provides 5,800 deposit-taking locations in the U.S. and overseas.


RSS print
News Now LiveWire
Thanks for following our tweets on the NCUA's #listeningsession.
8 hours ago
RT @IllinoisLeague: Mike Daugherty, CEO, Community Plus FCU: I'd like to you to reconsider your repeated 'No's' #listeningsession #fixRBC h…
10 hours ago
CU says definition of complex CU needs to be reviewed, and not just based on asset size. NCUA: We are looking at that. #listeningsession
10 hours ago
NCUA says lots of resources go 2 examiner training,but there's much turnover.Invites ideas on how to improve exam training.#listeningsession
10 hours ago
CU tells NCUA that more benefit could be gained by better examiner training than imposing this "unnecessary" RBC system at #listeningsession
10 hours ago