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CUAnswers offers 10K grant to CEOs

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GRAND RAPIDS, Mich. (10/19/11)--CU*Answers has earmarked $10,000 in grant money to be shared by up to five client credit unions whose CEOs can best “sell” their idea to their peers at a Nov. 9 CEO Roundtable Session on Nov. 9. The program is being offered to challenge CEOs, who often have great ideas, but lack the funding required to move forward and get their projects kick started, according to CU*Answers. The cuasterisk.com network, a collaborative network of credit union service organizations in which CU*Answers has been a partner, has been a birthplace of many successful ideas, and the company said it would like to continue to foster innovation that creates opportunity for members, credit unions, and the network. Key dates for the grant process include:
* Oct. 21--Deadline for submission of ideas; * Oct. 26--CU*Answers board of directors selects up to five ideas; * Oct. 27--Finalists notified via e-mail; and * Nov. 9--Five- to 10-minute presentation by finalists at CEO Roundtable.
CEOs attending the roundtable will vote for the idea they feel best stimulates growth and innovation. A total of $10,000 in grants will be distributed to the winners in accordance with votes received, and where the money can make the most difference. The distribution may be one grant of $10,000, four grants of $2,500, or tiered by different amounts, according to CU*Answers. Each winner must be willing to share how the grant was used and how it affected the credit union at next year’s CEO Roundtable. CEOs may submit ideas to put grant money to work directly in their credit union, staff, community or members. Winning projects may serve as templates for other credit unions. CU*Answers offers technical solutions for operational needs and includes its flagship CU*BASE processing system and Internet development services.

Patelco enters marketing agreement on mutual fund platform

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SEAL BEACH, Calif. (10/19/11)--Patelcorp, the marketing and insurance subsidiary of $3.6 billion Patelco CU, Pleasanton, Calif., will market SaveDaily’s mutual funds to other credit unions and financial service providers under a newly reached marketing agreement. The SaveDaily mutual fund platform is designed to eliminate the need for high initial invetstments and ongoing contributions to open accounts, so average savers can begin investing. “Patelco has previously helped to successfully launch Sharebuilder’s ETF 401(k) into the marketplace, and we believe SaveDaily has the right product at the right time for a majority of daily savers and investors,” said Mark Hoaglin, Patelcorp vice president of investment and insurance services. “Patelcorp is offering the SaveDaily platform to our customers today, and we believe that there will be a strong demand for this program.” Credit unions, banks and other financial service providers adopting the SaveDaily platform can offer mutual fund investing to their member/customers under their own brand. For a flat monthly charge, investors in mutual funds can have unlimited positions and unlimited changes without transaction fees.