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CU Wallet Signs Agreements With Three Tech Providers

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LAS VEGAS (10/9/13)--CU Wallet, a mobile payments initiative designed specifically for credit unions by credit unions, announced agreements with three vendors at the MONEY2020 conference in Las Vegas.

CU Wallet selected Paydiant to provide the platform for its mobile wallet solution. With Paydiant, CU Wallet will integrate complete mobile wallet capabilities into its own mobile application, including contactless mobile payments, e-receipts, redemption and cardless cash access on existing payment terminals, point-of-sale systems, ATMs and online shopping carts.

The Paydiant platform is deployed in partnership with card-issuing financial institutions, retailers, restaurants, merchant processors, debit/ATM networks and POS providers Paydiant's platform works with existing smartphones, POS systems and payment terminals, including entry-level countertop devices.
 
CU Wallet also announced partnerships with technology providers DoubleBeam and CheckAlt.
 
CU Wallet is integrating DoubleBeam's mobile payments software development kit, giving credit unions the ability to "onboard" members by simply taking a picture of a blank check and photo ID.
 
CheckAlt's mobile payment processing solution will provide credit unions with end-to-end processing.
 
Fifteen credit unions, ranging from $400 million to more than $5 billion in assets, representing more than two million members nationwide, have signed agreements with CU Wallet.

Invest In America's CU Auto Club Offers Online Enrollment

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LIVONIA, Mich. (10/9/13)--Invest in America's Credit Union Auto Club now offers an online promotional portal.

Credit Union Auto Club's new portal helps credit unions purchase up to 100 club memberships in one transaction at a discount, said CU Solutions Group. 

"Credit unions can save $10 per membership while continuing to earn their marketing reimbursement funds with each membership purchase," said David Adams, CU Solutions Group president/CEO.

Credit unions receive marketing reimbursements ranging from $5 to $9 per plan, based on the plan type.

The portal's discounted bulk memberships can help credit unions:
  • Drive auto loan volume--Offer free Credit Union Auto Club memberships as auto loan incentives;
  • Welcome new members--Include a free membership welcome kit; and
  • Provide employee rewards--Use club memberships as rewards for employee contests or performance incentives.
Credit Union Auto Club provides credit unions with a source of non-interest income and roadside assistance services for their members.