Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

Products Archive

Products

Products and Services briefs (11/30/2007)

 Permanent link
* LAPLACE, La. (12/3/07)--Louisiana FCU was honored by PHH Mortgage with the “Best of the Best” award. The award recognizes the top 25% of PHH Mortgage’s clients, based on loan quality and commitment to customer service. The credit unions who earn the distinction receive a reduction in fees and preferred client access for quicker responses to their members, benefits and rewards. Louisiana FCU serves more than 20,000 members in the River Parishes and Tangipahoa Parish area … * SUNNYVALE, Calif. (12/3/07)--NetApp announced that it has more than 1,000 systems enabled with deduplication. The systems represent more than 30 petabytes of storage capacity, and NetApp’s deduplication technology aims to eliminate the storage of redundant data. One of NetApp’s customers is Virginia CU of Richmond, Va. The credit union deployed NetApp to complement its VMware environment. The solution helps the credit union with disaster recovery and improves data storage management … * AUSTIN, Texas (12/3/07)--Gila Corp. has signed a collections outsourcing agreement to expand its current service offering with Bay Gulf CU. Under the agreement, Gila will handle the collection of all delinquent loans and negative share draft accounts beginning with accounts classified as early as five days delinquent until charged off by management of the credit union. Accounts under 60 days delinquent will be worked on Gila’s I3 Dialer to help control delinquency levels. Gila Group staff will “act as defacto employees of the credit union,” said Patrick J. Swanick, Gila Corp. CEO. Gila Corp. is a provider of outsourced revenue-recovery products and services. Bay Gulf CU is headquartered in Tampa, Fla. … * FARMERS BRANCH, Texas (12/3/07)--AMOCO FCU, Texas City, and San Jacinto Area CU, Pasadena, have signed onto TNB Card Services to manage their credit and debit card processing. AMOCO has been a TNB client for 30 years, and its personal identification number (PIN) debit conversion will be completed early next year. The conversion will streamline AMOCO’s card processing. San Jacinto will consolidate all of its credit and debit card processing with TNB and will transfer card accounts from its current platform to TNB … * ST. PETERSBURG, Fla. (12/3/07)--PSCU Financial Services has launched ProjectNewAge.com, a website for credit unions to learn how to market to Gen Y. The site is a part of the cooperative’s New Age Program, which is designed to earn the interest and loyalty of young adults. Instruction on how Gen Y uses blogs and other social media is provided. “Studies indicate that in 10 years, Gen Y’s spending power will represent a larger opportunity than the Baby Boomers. Since these young adults develop brand and corporate affinities at a very early age, credit unions need to act now to develop long-term financial relationships,” said David J. Servo, president/CEO of PSCU …

Volunteer Institute kicks off CUNAs 2008 educational offerings

 Permanent link
MADISON, Wis. (11/30/07)--The Credit Union National Association (CUNA) Volunteer Institute, scheduled for Jan. 5-9 in Puerto Vallarta, Mexico, kicks off next year’s schedule of educational offerings from CUNA. The institute, which helps new and experienced board members, committee members and CEOs improve their credit union knowledge, will cover topics such as the Bank Secrecy Act, strategy development, market trends affecting credit unions and members, business lending, human resource basics and credit unions’ Policy Governance model. The optional pre-conference workshop, Compliance Fundamentals for Your Board, is scheduled for Jan. 5. It will provide an overview of major credit union compliance issues and what board members should know about them. Volunteers also will review regulations from an employer’s perspective to develop a better understanding of what employees can and cannot say to members and the potential consequences of non-compliance. Credit union lending professionals also can learn to use tax returns to analyze and qualify loan requests for members with non-traditional incomes during CUNA’s eSchool, Tax Returns to Qualify a Loan, which meets Wednesdays Feb. 6-20. The eSchool will address:
* How to obtain monthly net or gross income from a borrower’s personal income tax return; * How to identify the information that borrowers hide when applying for a loan, and how this might affect their borrowing abilities; and * How to understand the forms involved in these non-traditional income situations and obtain the relevant information.
For more information, use the links.

Harland group earns standards certification

 Permanent link
LAKE MARY, Fla. (11/29/07)--Harland Financial Solutions’ UltraData Enterprise Group has achieved certification from Service Strategies Corp. in the Service Capability and Performance Standards (SCP). The SCP Standards quantify the effectiveness of client service based upon a set of performance metrics. It is part of a suite of service capability and performance standards designed to improve the quality and effectiveness of technology service operations. A consortium of technology companies, with the Association for Services Management International and Service Strategies Corp., created the standards. The group defines best practices for technology service and support. Harland joins the ranks of other leading technology companies including EMC Corp., Lockheed Martin Inc., GE Healthcare and Nokia. Harland Financial Solutions delivers the UltraData core processing system to more than 600 credit unions nationwide.

PICU generates buzz at conference with new Platinum Card

 Permanent link
COMMERCE, Calif. (11/28/07)--Printing Industries CU introduced a new Platinum MasterCard to its members during the Printing Industries of the West Conference in Hawaii. “Our new card was the talk of the conference,” said Rick Dockery, PICU president/CEO. “Since they’re all printers, they were impressed by how we used some tricks of the trade to create such a dynamic first impression.” PICU’s new MasterCard has the tagline: “Where CMYK makes green.” CMYK refers to the four colors in the printing process. The credit union handed out gift bags to each conference attendee with a reproduction of the new card imprinted with the cardholder’s name on the conference nametag, along with PICU coffee mugs, pens and note pads. The conference was a great place to introduce the card, Dockery said. “We literally put it in the hands of California’s leading printers. When we roll out our campaign to our entire membership, we hope the owners will say, ‘Oh, I saw that at the conference.’” The MasterCard is the first platinum benefit the credit union has introduced to its members. “This is something our members have wanted, and it gives them greater value than a similar bank product,” Dockery said. “And having a design that reflects what they do each day gives them pride when they use the card.” PICU, located near downtown Los Angeles, has $27.7 million in assets and serves employees of the graphic arts industry.

NACUSOMatch discussed at web forum

 Permanent link
NEW ORLEANS (11/28/07)--Lisa Renner, CEO of CU Holding Company LLC, presented a NACUSOMatch Forum update during the National Association of Credit Union Service Organization (NACUSO) third annual Business Services Collaborative Nov. 7-9 in New Orleans. NACUSOMatch Forum, launched Nov. 5, is a web-based meeting place to foster the exchange of critical thinking and collaboration among credit union industry participants. “Collaboration is an ongoing process,” Renner explained. “NACUSO members need to assist in creating the value for current and future members of our industry. We need our members to put these tools to work.” NACUSOMatch Directory, launched during the 2007 NACUSO annual conference in Las Vegas, complements the forum and is “a shoppers’ paradise for credit union-owned solutions,” Renner said. Renner also presented a $5,000 check to NACUSO on behalf of her marketing credit union service organization (CUSO), Beyond Marketing LLC, during the Nov. 8 general session. Four other organizations pledged $5,000 each to spread the “Buy CUSO” message, bringing the total to $25,000. The other donors were CU*Answers, Central States Mortgage, Member Gateways LLC and Mountain America FCU, West Jordan, Utah.

Creating loyalty training program moves to CUNA

 Permanent link
MADISON, Wis. (11/27/07)--CUNA Mutual Group and the Credit Union National Association (CUNA) have agreed to transition CUNA Mutual’s Creating Member Loyalty (CML) organizational training program to CUNA. “The CML program will enable us to extend our reach to in-house employee training, adding a critical element to our core business that will enhance our expertise and commitment to helping people reach their personal and professional potential,” said John Franklin, executive vice president and chief operating officer for CUNA. The CML program provides training and implementation support to help credit unions develop their member service and sales culture, and enhance the leadership and coaching capabilities of their staff. “By working together, we can more effectively support the training programs that are so critical to the long-term success of the credit union movement,” said John Lass, senior vice president of product strategy for CUNA Mutual. CUNA’s training and development offerings for credit unions focus on business and functional expertise such as human resources, compliance and technology. CUNA Mutual focuses on training programs specific to the implementation of its insurance, asset management and services portfolio. CML was created 20 years ago by CUNA Mutual, and offers more than 60 sales and service training modules covering member sales and service, leadership and training for 400 credit unions. For more information about CML, use the links.

Products and Services briefs

 Permanent link
* THORNDALE, Pa. (11/27/07)--Citadel has signed an agreement with CO-OP Financial Services to expand its ATM network to include more than 25,000 ATMs. The agreement allows Citadel members to use any CO-OP-operated ATM in the U.S. CO-OP ATMs are located in credit unions and in retail locations, including surcharge-free 5,500 7-Eleven stores. CO-OP, the nation’s largest credit union service organization, is headquartered in Ontario, Calif. … * RANCHO CUCAMONGA, Calif. (11/27/07)--CU Direct Corp. (CUDL), which administers a point-of-sale and indirect auto lending network for credit unions, was awarded Digital FCU’s (DCU) Business Partner Excellence Award. CUDL was recognized for helping DCU reach its auto lending goals and for providing training and support programs for its staff. Bob Nealon, CUDL Northeast regional director, accepted the award from DCU Consumer Lending Vice President Diane Richard. (Photo provided by CUDL) … * FAIRFAX, Va. (11/27/07)--FedComp Inc., a provider of core data processing software to 1,300 credit unions, announced that it is forming a non-exclusive partnership with Fiserv EFT, a business unit of Fiserv Inc., which will provide credit unions with access to Fiserv EFT’s best-in-class ATM and debit products and services. Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions nationwide … * KIRKLAND, Wash. (11/27/07)--Byte Software has released BytePro version 2.1, with enhanced management reports, Web Services and a new Software Development Kit. Other features include interfaces to new credit and marketing partners, and support for adjustable-rate mortgages and interest-only loans. Byte Software is a provider of loan- origination software solutions for financial institutions, including credit unions …

MAP endorses MoneyPass for surcharge-free ATM network

 Permanent link
TUKWILA, Wash. and ST. PAUL, Minn. (11/26/07)--Card processor Member Access Pacific (MAP) and the MoneyPass ATM network have partnered to provide MAP credit unions and cardholders with access to more than 11,000 MoneyPass ATMs nationwide. The MoneyPass-MAP alliance provides discounted rates for credit unions that contract to participate in the program. MAP, based in Tukwila, Wash., provides card processing, prepaid solutions, technology and ATM services to credit unions nationwide. MoneyPass is headquartered in St. Paul, Minn., and is a network of Elan Financial Services, a provider of ATM and debit card processing solutions.

Four providers launch expand mobile banking

 Permanent link
MADISON, Wis. (11/21/07)--Four solutions providers have launched and expanded their mobile banking capabilities for financial institutions, including credit unions.
* Open Solutions Inc. of Glastonbury, Conn., entered a partnership with MShift, a provider of customizable wireless solutions. Through the partnership, Open Solutions will offer mobile banking services, including access to account summaries, transfer capabilities, bill payments and access to data from all Web-enabled mobile devices, such as cell phones, personal digital assistants, BlackBerry devices, pagers and voice devices; * Jack Henry and Associates, based in Monett, Mo., announced the launch of goDough, a browser-based mobile banking solution. With goDough, users can conduct branch and online transactions such as balance inquiries, fund transfers between accounts and transaction viewing. It supports all account types, including checking, certificates of deposit, money markets, loans and lines of credit; * CheckFree Corp. of Atlanta will expand its OpenChannel solution for mobile banking. The strategy supports multiple technologies for delivering online financial services through mobile devices, including microbrowser-based wireless application protocol, text messages and device-resident applications; and * America First CU of Ogden, Utah, has signed up for a new mobile banking service launched by AT&T. The service allows users to view account balances and history, transfer funds and pay bills.

CUDL to host CUs at NADA convention

 Permanent link
RANCHO CUCAMONGA, Calif. (11/21/07)--CU Direct Corp. (CUDL) announced that it will host credit unions at the 2008 National Automobile Dealers Association (NADA) Convention, scheduled for Feb 9-12 in San Francisco. CUDL will represent more than 600 credit unions at the convention, which aims to bring auto dealers and credit union representatives together for networking and relationship building. Credit union representatives also can attend workshops and breakout sessions about the automobile industry. NADA represents about 20,000 franchised new car and truck dealers with 43,000 separate franchises, domestic and international. CUDL has represented credit unions at the NADA convention for the past five years.

Council white paper offers disaster prep planning advice

 Permanent link
MADISON, Wis. (11/21/07)--A new white paper from the CUNA Marketing and Business Development Council provides the steps and strategies of building a credit union disaster communications plan. “Disaster Communications: The Importance of and Strategies for Implementing a Disaster Communications Plan--Before You Need It” discusses the importance of and strategies for implementing, testing and improving the communications portion of disaster preparedness and recovery plans, and business continuity plans. The paper covers:
* Disaster recovery plans--when they are needed, what is included in them and how they incorporate communications; * The important elements of a disaster communications plan; * Available tools and resources within the credit union system to help with planning and with communications during disasters; and * Implementing, testing and updating a plan.
Five case studies in the paper illustrate how credit unions and leagues have weathered disasters, the lessons they learned and the improvements they made to their disaster communications plans. A questionnaire for plan evaluation and a planning checklist are included in the appendix. CUNA Council members are entitled to a complimentary copy of the white paper; non-members may purchase copies for $50 each. For more information, use the link.

Equifax announces paperless lending solution

 Permanent link
LAS VEGAS (11/20/07)--Equifax Inc. has launched a paperless lending solution that allows financial institutions to close loans electronically. The solution was announced during the Bank Administration Institute Retail Delivery Conference and Expo in Las Vegas last week. The product was created through integration of Carleton Inc.’s SmartDocs and eCore Inc.’s advanced electronic vaulting solutions. Credit unions using the solution will be able to create electronic loan documents using SmartDocs. Credit union members can view their documents on screen and sign them using a signature pad. Documents are deposited to the eCore vault, where they are maintained and managed. Financial institutions can deploy the product within a few weeks, said Atlanta-based Equifax.

Southwest Corp. passes branch capture milestone

 Permanent link
DALLAS (11/19/07)--Southwest Corp. FCU announced Wednesday that more than 1,000 credit union branches have chosen its Remote Deposit Service. Southwest’s remote deposit service allows credit unions to transmit deposits and images electronically through Southwest’s item-processing center. “We definitely are seeing an increase in the number of credit unions going directly to teller capture,” said Brad Ganey, Southwest director of item-processing services. “Teller captures is a very real part of our normal operations today.” Southwest Corp. installs check scanners at credit union branches, using the service to allow tellers to scan the checks in batches throughout the day. The software verifies image quality, balances transactions and transmits check images back to Southwest. Data completion is handled by the corporate, so credit unions are not required to encode checks. Southwest currently provides remote deposit at credit unions in 25 states. First Financial FCU in Albuquerque, N.M., recently deployed the service. Remote deposit is saving First Financial money, according to Terri Mickelson, First Financial vice president of internal operations. “There is no courier service from our branch, so we had been sending checks by Fed Ex,” she said.