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CU 24 announces 21 renewals in Q4

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TALLAHASSEE, Fla. (1/25/10)--Credit Union 24, a credit union-owned ATM and point-of-sale network, announced that 21 credit unions renewed long-term contracts with the network in the fourth quarter 2009, representing more than $2.8 billion in assets and more than 300,000 members. About 73 credit unions renewed contracts in 2009, which represents more than $12.5 billion in assets and more than 1.3 million credit union members. The 21 credit unions renewing include:
* Altamaha FCU, Jesup, Ga.; * Baton Rouge (La.) Telco FCU; * Bayport CU, Newport News, Va.; * Beach Municipal FCU, Virginia Beach, Va.; * Breco FCU, Baton Rouge, La.; * Brightstar CU, Sunrise, Fla.; * DOW Louisiana FCU, Plaquemine, La.; * Fairfax (Va.) County FCU; * Federal Employees CU, Birmingham, Ala.; * First Coast Community CU, Palatka, Fla.; * Frederica CU, Brunswick, Ga.; * Gwinnett FCU, Suwannee, Ga.; * JetStream FCU, Miami Lakes, Fla.; * Metro North FCU, Jacksonville, Fla.; * Newport News (Va.) Municipal Employees CU; * Piedmont CU, Danville, Va.; * Richmond Fire Department CU, Richmond, Va.; * Roanoke (Va.) Valley FCU; * South Dekalb Church FCU, Decatur, Ga.; * Tempe (Ariz.) Schools CU; * Valley Industrial CU, Waynesboro, Va.
CU 24 is based in Tallahassee, Fla.

Connecticut league selects Access to Money Inc.

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CHERRY HILL, N.J. (1/25/10)--The Credit Union League of Connecticut has selected Access to Money Inc. to provide services to its 142 credit unions. Access to Money will provide the credit unions with products and services including the Student Loan Origination Platform, ATM and ATM kiosks, ATM processing, Bank at School, Bank at Work, Branch Build Out, Cash Management and Security Systems for three years. It also will participate in vendor events and sponsor selected education events organized by the league. “Access to Money has the capable means to tailor its support to the specific needs of credit unions,” said League President/CEO Tony Emerson. He also noted that the league selected the company because it offers Connecticut credit unions a student loan program. Access to Money has more than 12,000 ATM terminals located nationwide in credit unions, retail stores and specialty stores. The company also provides student loan outsourcing services to university credit unions.

More members used reloadable gift cards in 2009 says CUSO

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ST. PETERSBURG, Fla. (1/25/10)--More members used PSCU Financial Services’ reloadable gift cards in 2009 because of the cards’ convenience especially during winter weather conditions, according to the credit union service organization. PSCU Financial Services reported a 15% growth in sales of its gift cards and a 52% sales gain for reloadable cards over 2008. Total money loaded to gift cards was up 17% while the value of reloadable cards increased by 46%. “Both card formats experienced growth but different factors exert influence on prepaid gift and reloadable cards,” said Denise Stevens, PSCU Financial Services director of prepaid services. “Overall convenience and hazardous winter weather made gift cards an attractive option for many credit union members.” Reloadable cards serve two primary needs, Stevens said. They provide an easy way for members to stick to a budget year-round and during the holidays. Reloadable cards also are a tool for members who struggle to obtain or maintain payment products such as credit or debit cards. Both needs drove a 98% increase in cardholders who reloaded their cards in 2009 compared to 2008. “Many Americans who experienced job losses or who feared a future loss in income curbed their spending throughout the year,” Stevens said. “These members and others on a budget used reloadable cards in addition to, or in place of, debit or credit cards for many expenses.” About 146 credit unions participate in PSCU Financial Services’ prepaid card program. Nearly all of those credit unions issue gift cards and about half issue reloadable cards.