GRAND RAPIDS, Mich. (10/8/10)--A recent contest sponsored by CU*Answers has resulted in an increase in the number of credit union members opting to receive E-Statements over mailed statements. During the August and September contest period, client credit unions realized 9,079 E-Statement enrollments, a 48% increase compared with the two months prior to the contest. Isabella Community CU, Mount Pleasant, Mich., witnessed a 96.15% increase in E-Statement enrollment compared with the previous two months. Nearly 4,000 statement inserts were ordered by 60 credit unions, driving the cost to $0.015 each. The expense to Isabella Community CU was $114.25--about $0.44 for each new E-Statement enrollment. CU*Answers provides marketing services for credit unions.
PORTLAND, Maine (10/8/10)--Synergent has decided to rebate $750,000 to credit unions that use its services. The rebate is based on the volume of business each credit union conducted with Synergent during Aug. 1, 2009 through July 31, 2010. Synergent provides technology, card, check processing and support services for credit unions. Synergent, a subsidiary of the Maine Credit Union League, has 200 credit union partners. John Murphy, league president, said credit unions have incurred additional expenses from share insurance assessments and increased regulatory requirements during the past 18 months. Synergent is “regularly looking for ways to provide assistance to the credit unions it serves,” Murphy said.