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Diebold decides not to build new headquarters

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NORTH CANTON, Ohio (10/26/12)--Diebold Inc. is suspending indefinitely its plans to construct a new global headquarters facility, the company announced.

Diebold will focus its resources and strategic direction on generating long-term, sustainable growth, using its assets to capitalize on acquisitions and invest in technologies and services that will help grow the business, the company said.

Diebold is a CUNA Strategic Services provider.

The company has no plans to pursue new construction options for its global headquarters facility, either in Ohio or elsewhere, and is committed to remaining in its current location in Green, Ohio.  Diebold will decline the various state and local financial incentives it was previously offered, and allow those assets to be redirected to other programs that will benefit its state and region. 

On April 12, 2011, Diebold had announced its plans to construct a new, consolidated corporate campus to expand its global headquarters in the Akron/Canton region.  In January, the company announced that it chose a 55-acre site in Green as its preferred site.

"As we've been analyzing our near- and long-term growth priorities, it has become clear that investing more than $100 million in a headquarters facility is not economically feasible given the other priorities for the business at this time," said Thomas W. Swidarski, Diebold president/CEO. "We have tremendous opportunities for growth, both through acquisition and organic means. Therefore, we must ensure that we maintain adequate capital flexibility to take advantage of these prospects that will position us for long-term growth."

The recently announced acquisitions of logical security and services businesses in Brazil and Turkey and the need to spend on information technology and services infrastructure, software and global shared services, represent the kinds of investments Diebold is making to grow, the company said. 

During the next several years, Diebold will update and enhance the company's existing headquarters in Green and other facilities in the area to create a more sustainable, satisfying work environment for its associates, the company said.

Corporate America PULSE team for POS ATM access

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IRONDALE, Ala. (10/26/12)--Corporate America CU (CACU) and PULSE have partnered to provide the corporate's member credit unions with access to PULSE point-of-sale (POS) terminals and its nationwide ATM network.  

"PULSE has an excellent reputation and provides a low-cost POS network for our member credit unions that includes convenient access for credit union members to over 380,000 ATMs nationwide," said Jo Lynn Austin, CACU senior vice president/chief operating officer.

The agreement includes CACU direct mail campaigns and PULSE-provided educational articles, information and training, marketing and sales support materials, and speakers at CACU workshops.

"We value Corporate America's support of PULSE and look forward to continuing to work with CACU and its members," said Denise Stigge, PULSE vice president of association relations.

CU Business Group reaches 400-CU milestone

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PORTLAND, Ore. (10/26/12)--CU Business Group (CUBG), a business services credit union services organization based in Portland, Ore., has signed on 28 new credit unions in this year, and now services more than 400 credit union clients in 44 states.

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CUBG's new credit unions range in size from $18 million to $50 billion in assets. The company averages three new credit union sign-ons per month, it said.

"Our organization is set up to help credit unions of any size with their business services needs," said Larry Middleman, CUBG president/CEO. "That can mean anything from helping them get their program off the ground to performing a third party review of their entire portfolio, and everything in between."

CUBG recently started offering many services a la carte rather than as part of a product package.

"One credit union may need help with every step of underwriting, loan docs and servicing, while another may simply need to use us as a backroom processor to get the financial spreads done," Middleman said. "Likewise on the deposit side, a credit union may need our whole package of treasury management services--including systems, policies, and procedures; another may simply be looking for a sample policy template. Either way, we can help."

In an average month, CUBG's underwriters review $50 million in member business loans (MBL) and $25 million in participation loans for credit unions. The CUSO also performs 60 annual reviews and prepares an average of 120 sets of loan documents each month.

CUBG continues to see increased interest in Small Business Administration lending and participations, and the need for independent third party reviews of MBL programs and portfolios.

The Credit Union National Association (CUNA) and credit unions are urging Congress to increase credit unions' MBL cap to 27.5% of assets from 12.25% so that more loans could be made to small businesses, which are considered a key to improving the economy. CUNA and credit unions say that increasing credit unions' MBL cap would open up more opportunity to offer MBLs, inject $13 billion in business loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers.