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EasCorps remote deposit capture service passes 315 million

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BURLINGTON, Mass. (1/11/10)--Eastern Corporate FCU (EasCorp) announced that its remote deposit capture service, DeposZip, surpassed $315 million in deposits. The service was launched in 2008 and has garnered 291,098 deposits. Forty-seven credit unions use the service. DeposZip allows credit union members to deposit checks from their homes or offices with a scanner. Remote deposit capture can decrease processing costs, EasCorp said. EasCorp said eight new credit unions have added the service:
* Interra CU, Goshen, Ind.; * Ledge Light FCU, Groton, Conn.; * Merrimack Valley FCU, Lawrence, Mass.; * Mutual First FCU, Omaha, Neb.; * Southbridge (Mass.) CU; * NARFE Premiere FCU, Alexandria, Va.; * St. Jean’s CU, Lynn, Mass.; and * Teachers CU, South Bend, Ind.

Moebs granted patent for overdraft checking process

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LAKE BLUFF, Ill. (1/10/10)--Moebs Services, an economic research firm, has been granted a patent for Debit Scoring, which can be used by financial institutions offering overdraft services on consumer checking accounts, according to Michael Moebs, Moebs CEO and economist. Debit Scoring is part of Moebs’ No-Bounce Checking, which allows financial institutions to assess consumer risk and establish a range of customized overdraft limits, while controlling losses, protecting revenue and increasing checking account volume. Clients who use this process can charge as little as $9 to $12 for an overdraft, Moebs said. Debit Scoring was tested in Miami and financial institutions using the service experienced only 4% in losses. Financial institutions using the traditional approach to overdraft coverage lose 20% to 30% of revenue. “I believe this process solves many of the issues financial institutions and consumers now face in the current pricing controversy impacting overdrafts,” Moebs added.

CUNAs Lending Mortgage Lending Schools offer training

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MADISON, Wis. (1/11/10)--CUNA’s Consumer Lending School and Mortgage Lending School are combining to offer a training event for credit union lenders in March. The event, CUNA Consumer and Mortgage Lending School, will be held March 28 through April 1 in Las Vegas. The school aims to help credit unions meet competitive consumer lending and mortgage demands in the current economy. “This program addresses the needs of all staff levels in a new combined learning format,” said Shawn Lanier, CUNA instructional design manager. “New lenders can learn the essentials and experienced lenders can attend advanced sessions to add to their existing knowledge. The beauty of this new format is attendees can customize their own lending.” Sessions include:
* Leadership Isn’t Always About the Title; * Lending in Today’s Market--Challenges and Opportunities; * Assessing Risk in Volatile Times Without Losing Your Shirt; * Economic Trends; and * Personal Survival in a Crazy World.
For more information, use the link.

HUB International acquires Wescom Insurance Services accounts

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CHICAGO (1/11/10)--Hub International Ltd. Announced that it has acquired the Commercial Lines and Life and Health books of Wescom Insurance Services, a subsidiary of Wescom CU. The transaction will expand Hub’s footprint in Southern California, where Wescom Insurance Services is located. Wescom works with middle market to small accounts, including property and casualty, employee benefits and life insurance. Hub, headquartered in Chicago, is an insurance brokerage. Wescom CU, Pasadena, Calif., has $3 billion in assets.

Products and Services briefs (01/08/2010)

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* FAIRBORN, Ohio (1/11/10)--myCUmortgage, a mortgage-related credit union service organization founded and managed by Wright-Patt CU in Fairborn, Ohio, is expanding its solutions to credit unions. myCUmortgage began serving Ohio credit unions in 2002, expanding regionally as demand grew. It offers credit unions origination and private-label loan options. Wright-Patt has $1.6 billion in assets ... * MARLBOROUGH, Mass. (1/11/10)--Members Insurance Agency has partnered with Partners Benefit Group (PBG) Inc. to offer new employee benefit solutions to credit unions, said the Massachusetts Credit Union League. The agency’s employee benefit services will now be provided by PBG. “We have collaborated with PBG for many years on things such as the use of high deductible health plans and how they can be used to mitigate premium increases without diminishing benefits,” said Bob Delaney, Members Insurance Agency CEO ... * SAN DIEGO and BOSTON (1/11/10)--CUSO Financial Services (CFS), a full-service broker dealer and a provider of investment and insurance solutions to credit unions, launched the ActivePassive Portfolios on the CUSO Asset Management platform. FundQuest, manager of ActivePassive, provides managed account solutions, productivity tools, investment due diligence, back-office operations and reporting services. Advisers using the CFS platform can select from 14 different portfolios to serve different tax investor situations. CUSO Financial Services is headquartered in San Diego and provides services to more than 120 credit unions ...