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CU Tax Services now CUTS Performance Marketing

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HOUSTON (11/17/08)--Credit Union Tax Services announced it has re-branded itself as CUTS Performance Marketing. “We’ve expanded our offerings beyond tax preparation products to deliver additional value-added offers from best-in-class merchants to credit union members via our credit union partners,” said CUTS President Jeff Plumer. CUTS’ business model is based on performance marketing, which allows each credit union or credit union member to benefit without paying upfront fees or making investments. CUTS will enable credit unions to provide members with savings on products such as small business services, personal finance management, education and entertainment, auto insurance, and tax preparation.

CUNA updates Managing CU Finance book

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MADISON, Wis. (11/17/08)--Credit union professionals can gain a sound understanding of financial management principles through a revised book from the Credit Union National Association. “Managing Credit Union Finance” explains financial statements and the financial management process in layman’s terms, using credit union examples whenever possible. The updated text contains revised data, statistics, and trends in credit union finance, and new information concerning credit union service organizations, U.S. Central, and the corporate credit union network. The text also covers capitalization, interest-rate risk and investments, managing liquidity, lending considerations, asset-liability management, internal controls, pricing member services, and annual business plans. For more information, use the link.

Jack Henry launches leased remote deposit scanners

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MONETT, Mo. (11/17/08)--Jack Henry and Associates, a provider of technology solutions and data processing services for financial institutions, announced an equipment leasing program to provide credit unions with check scanners for $15 a month. The program includes various scanner makes and models that are compatible with diverse check volumes, and scanners shipped directly to merchants on behalf of participating financial institutions. Jack Henry’s remote deposit-capture supports any commercial entity that accepts checks as a form of payment with a Web-based electronic payment processing system that converts paper-based checks into electronic transactions. It then processes them through the automated clearinghouse or Check 21 image networks. The solution also automates returned check re-presentment, generates real-time reporting and supports proactive risk management.