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Products and Services briefs (05/21/2008)
* RANCHO CUCAMONGA, Calif. (5/22/08)--C-U First, a credit union-owned and operated workers’ compensation insurance company, reported that an overage of more than 30% has been distributed from the program’s first year of operation. About 17% more is available for future returns. C-U First returned about $700,000 to its policyholders with an estimated $375,000 in future distributions to be declared from the 2004 policy year alone. Premiums also have decreased 45%, which represents more than $1 million from 2004 to 2008 for members. AltaOne FCU, Ridgecrest, Calif.; American First CU, La Habra, Calif.; Burbank (Calif.) City FCU; Christian Community CU, San Dimas, Calif.; CoastHills FCU, Lompoc, Calif.; First Financial CU, West Covina, Calif.; Fresno County FCU, Fresno, Calif.; LBS CU, Long Beach, Calif.; Orange County’s CU, Santa Ana, Calif.; and Pacific Marine CU, Camp Pendleton, Calif., along with the California and Nevada Credit Union Leagues, are participating in the program ... * PORTLAND, Ore. (5/22/08)--CU Business Group recently signed Houston (Texas) FCU as its 250th credit union and has reviewed more than $1 billion in member business loans. “Credit unions are receiving more and more business loan requests as credit markets tighten,” said CU Business Group President/CEO Larry Middleman. “This presents increased opportunities for credit unions, which bodes extremely well for their potential growth and profitability. Credit unions are seeing a wide variety of loan requests, including commercial real estate, equipment loans, lines of credit and business credit cards.” Houston FCU has more than $300 million in assets ... * GLASTONBURY, Conn. (5/22/08)--Open Solutions Inc. was awarded “Best in Category” for 2008 during the Prepaid Card and CDHC Conference in Las Vegas. The company’s asset retention solutions (ARS) debit card program was recognized in the Best Claim Card Program category. The awards were presented by Paybefore, a provider of information to the prepaid card industry. Open Solutions is a core data processor serving financial institutions including credit unions ...


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