Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

Products Archive

Products

Cardtronics to acquire Welch ATM for $160M

 Permanent link
HOUSTON (7/28/14)--Cardtronics Inc. will acquire Welch ATM for $160 million under an agreement reached between the two companies last week.
 
The acquisition will add 26,000 U.S. ATMs to the Cardtronics fleet, bringing its global portfolio to 109,000, including 92,500 in the United States.
 
The combination of Cardtronics and Welch ATM will bring together two retail ATM services providers, with complementary customer bases and sales capabilities. Cardtronics has demonstrated success placing ATMs with national chain retailers and forming ATM branding relationships with national and international financial institutions.
 
Welch ATM has established its core strength around delivering ATM services to mid-market retailers such as Rite-Aid and ATM branding to mid-tier credit unions and banks.
 
A combined Cardtronics and Welch ATM organization will also bring together the leading providers of ATM services to Walgreens. The collective Walgreens portfolio totals 5,100 ATMs, which is a significant portion of the retailer's nationwide footprint. Additionally, Welch ATM will add 3,100 company-owned, Rite Aid-located ATMs to Cardtronics' roster of retailer locations.
 

CU24 real-time P2P added to CU Mobile Apps

 Permanent link
TALLAHASSEE, Fla., and FRANKLIN, Tenn. (7/25/14)--CU Mobile Apps and CU24 Thursday announced a strategic alliance to bring POCKET2POCKET, CU24's mobile person-to person (P2P) money transfer service, to CU Mobile Apps' client credit unions.
 
Rick Hargis, managing partner of CU Mobile Apps, cited research findings that growing numbers of potential credit union members are seeking mobile P2P solutions. "Real-time is the critical advantage they're looking for, and that's what CU24 enables us to offer our client credit unions and their members," Hargis said.

POCKET2POCKET is a real-time electronic funds solution, rather than a traditional automated clearing house-based method that can delay funds transfer by anywhere from 24 to 72 hours, said Joe Woods, CU24 vice president of sales and relationship management. "P2P offers a new level of efficiency," he added.
 
The new POCKET2POCKET feature will be added as a tab to the app that existing CU Mobile Apps credit union clients are already accessing, explained CU Mobile Apps partner Tom Gray. 
 
"It works like PayPal within the credit union and financial industry," Gray explained. "Just open your credit union app, click on 'P2P,' identify the person you wish to pay, their cell number and the dollar amount--then hit 'send' and it's done automatically, instantaneously. Our partnership with CU24 has provided us with this quick, easy way for people to pay other people, whether on a one-time or recurring basis, directly from their debit card accounts."

CUNA Mutual adds GoHealth health insurance to TruStage

 Permanent link
MADISON, Wis. (7/24/14)--CUNA Mutual Group announced Wednesday it will launch a health insurance program through a partnership with GoHealth, a private health insurance marketplace.

Through the TruStage health insurance program credit unions will be able to offer their members health insurance from a variety of health plans. GoHealth provides consumers access to all of the plans available on healthcare.gov as well as other carriers.

Using GoHealth's Web-based platform, members will be able to compare health insurance plans, get quotes and estimate available federal tax subsidies--applying them directly to their health plan to receive lower monthly premiums. They can also shop over the phone with the guidance of licensed insurance advisers and apply for coverage.

"As the leading cause of bankruptcy in the U.S., medical bills continue to be a significant stress on many families' finances," said Corrin Maier, director of the MemberCONNECT program at TruStage. "There's also confusion about the changes brought on by the Affordable Care Act. Credit unions are in a unique position to respond--they can help members understand the requirements, give them access to affordable health insurance options and help them protect what matters most." 

To date, Chicago-based GoHealth has helped more than 30 million consumers shop for coverage online with its private health insurance marketplace.

During the next open enrollment period beginning in November, an estimated 8 million credit union members will seek health insurance coverage through an exchange.

TruStage currently protects more than 14.8 million credit union members with insurance products and programs for life, auto, homeowners, and accidental death and dismemberment. The addition of health insurance options advances the company's mission to build financial security for their families.

Credit unions enrolled in the MemberCONNECT program--the conduit for credit unions to make TruStage products available--will receive an invitation to a webinar to learn more about the TruStage health insurance program.

SHAZAM, MasterCard match up for EMV debit

 Permanent link
DES MOINES, Iowa (7/23/14)--The SHAZAM Network Tuesday announced an agreement to make the Europay-MasterCard-Visa (EMV) debit solution available to all of its participants.
 
The EMV chip card adoption is designed to decrease card fraud and increase transaction security. The agreement provides all SHAZAM Network participants with EMV licenses for MasterCard products, helping to achieve the goal of a more secure U.S. payments environment.
 
"The objective of our collaboration with MasterCard was to provide merchants and issuers routing choice for contact and contactless payments supporting PIN, signature or no cardholder authentication," said Terry Dooley, SHAZAM chief information officer. "We're confident this objective has been accomplished through the agreement we've reached with MasterCard."
 
Carolyn Balfany, MasterCard senior vice president of product delivery--EMV, said "Through this agreement the SHAZAM Network and MasterCard have taken another step to advance the U.S. migration to EMV. By streamlining the complexity of EMV implementation, we can advance greater debit card security."

CUNA calculator microsites updated for mobile, customization

 Permanent link
MADISON, Wis. (7/22/14)--The Credit Union National Association has updated its financial decision-making microsite, Credit Union Calculators.
 
The tool is used by credit unions to help their members to experiment with financial variables, showing them rather than telling them why the credit union difference matters.
 
With four new calculators, the update also provides additional options for customization and access to new features. Credit unions can now add their logo and website colors, and can link multiple times to the entire calculator suite, as well as to each individual calculator.
 
The redesigned calculators also are built in a responsive design, making them easy to use with smart phones, tablets and computers, CUNA said.
 
"This easy-to-install but powerful update is all about minimizing the distance between the credit union and its members," said Joanne Sepich, CUNA's director of consumer education. "With mobile access, customization opportunities and automatic updates, credit unions can now demonstrate to their members their ability to respond to changing technology needs."
 
Its tools and features allow members to not only anticipate the impact of their actions, but also to acquire important financial education, including:
  • Multidimensional financial projections;
  • What-if scenario planning;
  • Step-by-step member walkthroughs;
  • Printable reports and detailed graphs; and
  • The ability to toggle variables and observe their effects.
For more information, use the link.

CU Wallet reports 65 signings

 Permanent link
LOS ANGELES (7/21/14)--CU Wallet, a collaborative, credit union owned and directed mobile payments technology provider, reported the signing of 65 credit unions, representing more than 7 million members, since the company's launch nine months ago.
 
CU Wallet is the industry's first mobile payments initiative designed specifically for credit unions, by credit unions. Since the company's inception, CU Wallet has forged alliances with several core, online and mobile banking providers, to facilitate integration and communication among member-facing channels.
 
CU Wallet credit union members can now deploy a mobile payments, mobile wallet product offering to attract a new generation of members, generate new, sustainable streams of revenue and meet the demands of mobile membership.
 
"Collaboration among credit unions continues to be one of our industry's greatest strengths," said Keith Sultemeier, president/CEO of Kinecta FCU, Manhattan Beach, Calif., with $3.3 billion in assets. "The CU Wallet platform makes collaboration easy and efficient, but still allows credit unions to tailor the member experience. Having a singular platform is advantageous to merchants, giving them the opportunity to reach a large pool of consumers through a trusted, secure channel."

LEVERAGE now offering ID theft services to member CUs

 Permanent link
BIRMINGHAM, Ala., and TALLAHASSEE, Fla., (7/18/14)--LEVERAGE, an affiliate of the League of Southeastern Credit Unions (LSCU), has introduced identity theft coverage through Member Security Center, allowing credit unions to provide a cost-effective added level of security to their members.

"With more consumers doing their financial transactions and buying online, identity theft is a major concern for credit unions," said Patrick La Pine president/CEO of LEVERAGE and LSCU. "The Member Security Center is a great way for credit unions to strengthen their relationship with their members, as well as offer them peace of mind while conducting their business online."

Member Security Center offers credit union members a proactive approach to identity theft prevention. The service monitors if the member's information has been exposed before a data breach occurs. Prevention of a breach saves the credit union any costs associated with the breach and protects credit union members from the difficulties following an incident of identity theft.

Member Security Center coverage offers members three tiers of service ranging from $1.95 per month to $12.95 per month, depending on the level of coverage.

"This product is a solution for all credit unions, regardless of size, to increase their non-interest income as well as offer members a much needed and valuable service," La Pine said.