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MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
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TOM SAKASHSTAFF NEWSWRITER

Products Archive

Products

First Data adds new account opening program

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ATLANTA, Ga. (10/18/10)--First Data Corp., an electronic commerce and payment processor with credit unions among its clients, has signed an agreement with MeridianLink Inc. to add XpressAccounts, an automated new member application and account opening program to its Internet banking service. Meridian was chosen because of its flexibility, said First Data. There is an increasing consumer demand for this capability, the Javelin Strategy and Research firm reports. The No. 1 benefit, a Javelin study found, is that online account opening can significantly reduce the cost of opening and servicing accounts. Javelin estimates that processing an application manually costs banks and credit unions an average of about $60. That's higher than the cost estimates from online account opening vendors, showing a mid-range of $15. MeridianLink Inc. is a provider of enterprise business solutions for end users in the financial services industries.

Registration open for April 2011 DE training

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MADISON, Wis. (10/18/10)--Registration is now open for the 2011 Credit Union Development Education (DE) training class taking place April 6-13 in Madison, Wis. Attendees of the six-day total immersion experience will learn about credit unions’ social responsibility and domestic and international development through interactive education and professional networking. DE training is open to everyone from new employees who need a credit union orientation to seasoned executives who need to recharge. Participants cite many benefits of attending DE training:
* Graduates acquire skills in credit union outreach initiatives, problem solving, technical assistance, team building, and public presentations. * Graduates earn certification as Credit Union Development Educators (CUDEs). They join a networking group of more than 1,000 graduates in America and 30 other countries. * CUDEs realize that local issues are indeed global--and that global issues are local. * CUDEs understand that credit unions grow stronger by working cooperatively. * CUDEs return to their jobs with new understanding of how to promote cooperative principles and credit union values as distinct advantages in today’s competitive financial services marketplace.
For more information, visit the National Credit Union Foundation (NCUF) website (use the resource links). NCUF is the primary sponsor of the DE program. Support is provided by CUNA Mutual Group, the Credit Union National Association, the World Council of Credit Unions, state foundations and leagues.