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Subprime Lender Partners With CU Direct

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ONTARIO, Calif. (11/27/13)--New Start Financial (NSF) has partnered with CU Direct to become the only subprime lender on the CU Direct lending network that specializes in subprime lending in Utah.
 
NSF in July launched a subprime auto financing program for all independent and franchised dealers throughout Utah (Auto Finance News Nov. 25).
 
Previously NSF was available only at two select independent dealerships. Through a merger with, Sam Russell, owner and operator of the Automatic Car Credit dealerships, and Vance Harrison of Harrison Imports, NSF received with capital to offer financing statewide.
 
NSF will focus on building long-term relationships with its dealer partners while providing them with an aggressive finance solution for customers with poor credit or who don't conform to traditional credit union or bank guidelines.
 
CU Direct Corp. also finalized new partnership agreements with nine credit unions, including:
  • SchoolsFirst FCU, Santa Ana, Calif.;
  • ENT FCU, Colorado Springs, Colo.;
  • NASA FCU, Upper Marlboro, Md.;
  • St. Mary's Bank CU; Manchester, N.H.;
  • Merrimack Valley FCU, Lawrence, Mass.;
  • 121 Financial CU, Jacksonville, Fla.;
  • Resource One FCU, Dallas;
  • Linn Area CU, Cedar Rapids, Iowa; and
  • Rhode Island CU, Providence, R.I.
CU Direct has signed new partnership agreements with 80 credit unions this year.

TMG White Paper Offers Holiday Card Fraud Prevention Tips

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DES MOINES, Iowa. (11/26/13)--A new white paper from payments processor The Members Group (TMG) offers credit unions tips on providing the best possible shopping experience for cardholders while also monitoring for card fraud during the holiday spending season.
 
Written for community financial institution (FI) leaders, the paper is the first in a series of four fraud-prevention white papers TMG will issue.
 
The first white paper, "Fraud Protection is a Must Have this Holiday Season," offers these strategies to help credit unions protect their members from holiday fraud:
  • Start simple. Update and upgrade lines of communication. Assign staff or work with vendors to make sure cardholder contact information is current. Cardholders are likely to be away from home during the holidays. Have their e-mails and mobile numbers on file.
  • Lock it back down. It's not uncommon for issuers to increase daily purchase limits or the number of transactions allowed in a 24-hour cycle in advance of the holidays. When developing these strategies, be sure to define a timeline and include the date when limits and restrictions will return to normal. Follow up to verify these restrictions are back in place on the intended date.
  • Stay informed. Fraudsters know speed is the name of the game. Keeping up on fraud trends makes red flags easier to spot. Credit unions should communicate with their processors and monitor the schemes in their area.
  • Don't drop your guard. Just as retailers and business leaders are encouraging consumers to "shop local," fraudsters, too, are working closer to home. Because geo-targeted fraud detection software works, fraudsters have become wise to it and are more often committing more crimes in victims' cities. This helps the criminals stay under the radar for longer. Credit unions should ensure their detection strategies account for this new trend and use a combination of technology and human analysts.
  • Educate cardholders. No one wants to talk about crime during the holiday cheer. Yet, cardholder awareness continues to be one of the most impactful tools against major fraud losses, TMG said. Communicate in advance and throughout the holiday season about what criminals are up to. Credit unions should use their websites, blogs and social networks.
  • Keep the holiday spirit alive. The holidays are joyous, yet busy. Keeping the holiday spirit alive among credit union team members is an important component to providing top-notch service to cardholders. The better prepared the credit union is for confronting holiday fraudsters now, the smaller the chances of a not-so-welcome holiday surprise, TMG said.
To download the white paper, use the link.

SunCorp Upgrades International Wires System

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WESTMINSTER, Colo. (11/25/13)--System United FCU, Westminstser, Colo., has introduced several enhancements to its International SunWires System.
 
The new features are in compliance with Consumer Financial Protection Bureau remittance regulations, SunCorp said. Other features make the system more user-friendly and secure for credit union staff.
 
For credit unions subject to the new CFPB regulations, the International SunWires System ensures compliance by:
  • Providing a completed member receipt/disclosure form that contains required information on exchange rates, fees, taxes, and funds availability;
  • Automatically enforcing a 30-minute processing hold on verified transfers to allow for potential member cancellations and refunds; and
  • Allowing users to designate transfers as either consumer or business use for determining transaction thresholds for possible CFPB compliance requirements.
Other processing enhancements include transaction templates for recurring entries and several new reporting options. User security options have also been expanded to allow credit unions to customize staff access to different functions in the system.

CO-OP Offers Mobile Wallet Webinar

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RANCHO CUCAMONGA, Calif. (11/22/13)--"Go Time For Mobile Wallets?" the next edition of CO-OP Financial Services Digital Wallets Thought Leadership webinars, will be held at 11 a.m. PT Dec. 10.
 
CO-OP will preview the redesigned Sprig product including M2A: Me to Anyone or the ability to pay anyone in or out of the network, enhanced web and app user interface and more features on the roadmap. The webinar will also provide information on how credit unions can get started with Sprig.
 
CO-OP will offer highlights of new a product that allows credit union members the ability to control their card accounts via mobile device.
 
To register for the free webinar, use the link.

QuestSoft Updates Compliance VERIFY Software

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LAGUNA HILLS, CALIF. (11/21/13)--QuestSoft Corp., a provider of automated mortgage compliance software to financial institutions including credit unions, released enhancements to its Compliance VERIFY software to help lenders satisfy the Consumer Financial Protection Bureau's (CFPB) Ability-to-Repay (ATR) rule, which goes into effect in January 2014.
 
The update provides users with full Internal Revenue Service (IRS) 4506-T and Social Security Administration (SSA-89) verification services and electronic transcripts integrated into the Compliance EAGLE QM/ATR pre-funding solution.
 
Compliance VERIFY provides an interface for ordering, collecting and organizing income and Social Security Number (SSN) verifications. QuestSoft can also accept e-signed 4506-T submissions with seven e-sign companies including: Communication Intelligence Corp., DocMagic, DocuPrep, DocuSign, eSignSystems, IDS and Silanis.
 
A free software development kit is available for any loan origination software (LOS), document or pricing vendor to quickly integrate the services and automate ATR compliance.

Picture Pay Shows Strong First-Year Growth

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AUSTIN, Texas (11/20/13)--Picture Pay, a mobile photo bill payment application from Mitek, Allied Payment Network and Malauzai Software Inc. has seen 17% month over month increase in active end-users and 13% monthly growth in the number of items processed since its launch in November 2012, the companies said.
 
The companies also reported that 5% of active mobile banking users employed the feature in the first 90 days after its launch. That is above the usage figure of 3.5% for standard bill pay on the mobile device. 
 
Picture Pay allows users to complete a payment in three steps: Take a photo of the bill statement, confirm the amount to be paid and submit the payment to the financial institution.
 
The application packages Mitek's patented mobile imaging technology and Allied Payment Network's payments processing capabilities inside the Malauzai SmartApp to provide account holders with a convenient way of paying bills through the mobile channel while giving banks and credit unions a more cost efficient alternative to traditional Internet banking bill payment offerings.

CUNA Mutual Notes 10-year Progress Of Lender Development Program

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MADISON, Wis. (11/19/13)--To mark the 10-year anniversary of its Lender Development Program (LDP), CUNA Mutual Group has studied the average payment protection participation lift its program provided for its 61 charter credit unions. CUNA Mutual reported that they have experienced an average payment protection participation increase of 20 percentage points.
 
Potlatch No. 1 FCU (P1FCU), in Lewiston, Idaho, was the first credit union to serve as a pilot LDP credit union in 2003. CEO Chris Loseth recalled, "Before LDP, we'd just throw out a payment protection goal and try to figure out how to meet it. LDP brought focus to the credit union. It helped us build an understanding of how the protection products benefit our members and why they are good for the credit union."
 
The results the 61 charter credit unions have achieved also include:
  • More than $250 million in claims payments; and
  • An average of seven times more revenue from CUNA Mutual Group's payment protection products in 2012 compared with credit unions not on the program.
"LDP was developed on the best practices of high-performing, results-driven credit unions," said Karim Habib, director of lending, CUNA Mutual Group. "As changing needs arise, the program's multi-discipline approach continues to evolve to help enhance credit unions' financial results through deeper member relationships that uncover and meet more member needs."
 
According to CUNA Mutual, today more than 900 credit unions use LDP techniques and resources to increase their financial results and enhance their member experience.  As a group, the 900 LDP credit unions:
  • Earn five-and-a-half times more revenue from CUNA Mutual Group's payment protection products than credit unions not on the program;
  • Experience a 19.4% increase on their entire credit insurance book of business within the first three years of the program; and
  • Earn 40 more basis points in fee and other income than credit unions not on the program.

Jack Henry Releases iPad Compatible Banking

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MONETT, Mo. (11/19/13)--Jack Henry & Associates Inc., a provider of technology solutions and payment processing services, has launched a real-time retail and commercial banking iPad app.

PointMobility leverages capabilities available with the company's goDough mobile banking solution and introduces new commercial banking capabilities.
 
The PointMobility tablet app supports traditional in-branch and online transactions such as balance inquiries, funds transfers between accounts, electronic bill payments, alerts, transaction viewing; and accommodates all account types, including checking, certificates-of-deposit, money markets, loans, and lines-of-credit. Commercial functionality includes the ability to release wires and ACH batches, and manage positive pay exception items.
 
Initially available for the iPad and iPad Mini, the real-time app uses the same login credentials and multi-factor authentication required for online banking access and authentication, is configured to match established bank branding, and is efficiently managed with an intuitive back office application.

CUNA Brokerage Services Signs 11 CUs

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MADISON, Wis. (11/18/13)--CUNA Brokerage Services Inc. (CBSI) has signed 11 more credit unions to offer its investment services program to their members.
 
"CBSI's investment program will help these credit unions deepen member relationships and give members another reason to look to their credit union for all of their financial needs," said Jim Metz, CBSI president/CEO.
 
CUNA Brokerage Services is now available to more than 670,000 credit union members nationwide.
 
The credit unions include:
  • APCO Employees CU, Birmingham, Ala.;
  • Five Star CU, Dothan, Ala.;
  • First CU, Chandler, Ariz.;
  • Vantage West CU, Tucson, Ariz.;
  • Illiana Financial CU, Calumet City, Ill.;
  • Decatur Earthmover CU, Decatur, Ill.;
  • Abri CU, Romeoville, Ill.;
  • First Community CU, Chesterfield, Mo.;
  • DuPont Goodrich FCU, Beaumont, Texas;
  • FedEx Employees Credit Association, Memphis, Tenn.; and
  • Heritage CU, Madison, Wis.
An investment relationship with a credit union increases member loyalty by more than 40%, which helps cement the overall member relationship and lock in additional years of revenue from credit union services, according to research by Kehrer-Saltzman and Associates.

Filene Offers Search Engine Optimization Webinars

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MADISON, Wis. (11/18/13)--The Filene Research Institute will host free webinars Tuesday and Wednesday introducing the launch of its Consumer Insights search engine optimization tool.
 
The one-hour webinars will be held at 11 a.m. CT on Tuesday and 1 p.m. CT Thursday.
 
Consumer Insights, developed in partnership with Novarica, provides credit unions with insights as to why consumers select a particular financial institution when shopping online.
 
The solution helps credit unions increase their visibility in search engines and improve their click-through rates with financial institution shopper insights, analytics, and a listing on FindABetterBank.com, a largest panel of financial institution switchers in the U.S.

CO-OP Financial Services To Release Mobile Card Controls

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RANCHO CUCAMONGA, Calif. (11/15/13)--CO-OP Financial Services, a credit union service organization based in Rancho Cucamonga, Calif., plans to introduce mobile card controls and alerts capabilities that allow members to set card controls based on their preferences, such as transaction type, merchant, location and payment thresholds.
 
The controls will be released early next year, CO-OP said, and will be delivered via a downloaded mobile device application.
 
Members of credit unions also will be able to perform specific self-service functions, including balance inquiries and fund transfers.
 
Card control and alert technology protects the cardholder as well as the credit union when a card is used in a way that's inconsistent with the user-identified parameters. Controls can be set by the cardholder so that specific types of transactions are immediately denied and the cardholder is alerted about any potentially fraudulent use.
 
Parameters that can be controlled include
  • Location. The cardholder specifies a geographic region where the card can be used, with transactions denied when used outside the parameters.
  • Transaction. The cardholder specifies allowed transaction types, such as in-store, online, recurring or ATM cash withdrawals.
  • Merchant. Merchant categories can be limited to gas, hotel, travel--whatever the cardholder mandates.
  • Dependent. Businesses, for instance, can set controls for each employee based on the employee's location and corporate rank.
  • On/Off. The cardholder simply turns the card on or off.

Symitar Updates Cruise Platform

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MONETT, Mo. (11/14/13)--Symitar, a division of Jack Henry & Associates, has introduced CruiseNet, the next generation of its Cruise core platform.
 
New features provided by CruiseNet include integrated loan collections, relationship pricing, risk-based lending and loan decisioning, accounts payable, fixed asset accounting, and customized workflow options for new members, new accounts and new loans. As part of the improved user workflow, tasks such as membership and loan applications can be completed in minutes, without toggling between screens.
 
The Cruise core platform is designed for smaller to midsized-asset credit unions. It is available for in-house installation or implementation in a service bureau environment, making it possible for credit unions to meet their business needs regardless of available IT resources, Symitar said.

Survey: Most CUs Rely On Obsolete Document Imaging Systems

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DENVER (11/13/13)--About 75% of credit unions surveyed rely on obsolete document imaging systems, according to the results of the Bluepoint Solutions annual enterprise content management survey.
 
The report, "The State of Enterprise Content Management in Credit Unions," is based on information collected in a credit union survey conducted by Bluepoint Solutions over six weeks this year.  The survey was conducted in the Spring and examined document imaging systems at about 200 credit unions of all sizes.
 
"As an industry, credit unions have resisted modernizing their document imaging systems at the same pace as larger financial institutions that have made it a point to invest in these critical content management systems," said Andrew Tilbury, Bluepoint Solutions chief marketing officer. "This has resulted in substantial lost opportunities to improve member service enterprise-wide and reduce the cost of many critical internal operations." 
 
The report indicated that 79% of credit unions are running on one or more disparate content management systems and that 69% still rely on a mix of paper and electronic storage media. 
 
About 17% of the credit unions surveyed have consolidated their multiple document management systems into a single system. "By managing documents across multiple systems, credit unions are spending more time pushing paper and less time building member relationships," Tilbury said. 
 
More than 60% of credit unions reported significant issues with their document management processes, including a high occurrence of lost documents, difficulty in using legacy document management systems, expensive training costs, considerable time spent locating documents and data breaches usually caused by an excessive reliance on difficult-to-secure paper documents.

Internal Service Benchmark Released By CUSO

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CHICAGO (11/13/13)--Member Loyalty Group, a credit union service organization that specializes in industry benchmarking for external service via the Net Promoter Score, recently released its first Internal Service Benchmark.
 
Click to view larger image Click for larger view
The overall internal Net Promoter Score for participating credit unions averaged 58.32%, with the highest ranked credit union at 69.90% and the lowest at 43.03%.
 
The accompanying chart includes the top five departments by NPS based on the new benchmark.
 
"In order to create exceptional service experiences for members, it is crucial that the entire organization is working effectively as a team," said Michelle Bloedorn, CEO of Member Loyalty Group. "This internal service survey program allows participating credit unions to accurately gauge how well each department is serving other employees and make changes to strengthen the organization and ultimately improve the member experience." 
 
MLG's Internal Service Survey program was launched in late 2011 to help credit unions measure, manage and take action on employee feedback. Each participating institution uses the same methodology and asks consistent questions of employees to determine Net Promoter Scores and collect feedback at a departmental level.
 
The benchmark ensures that participants understand their scores relative to other credit unions using the same methodology. "Comparing your overall NPS and department level scores with others can help your credit union set realistic goals and focus on the areas with the greatest room for improvement," said Bloedorn.

QuestSoft Certifies Acceptance Of Seven E-signature Providers

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LAGUNA HILLS, Calif. (11/12/13)--QuestSoft Corp., a provider of automated mortgage compliance software, has added electronic signature gateways from six providers, broadening the options for its customers using QuestSoft's Internal Revenue Service (IRS) 4506-T and Social Security Administration (SSA)-89 verification services.

In addition to its automated direct integration with Communication Intelligence Corp. (CIC) e-signature technology, QuestSoft can also accept 4506-T submissions with six other e-sign companies including: DocMagic, DocuPrep, DocuSign, eSignSystems, IDS and Silanis. Each company completed a certification process mandated by the U.S. government and enforced by QuestSoft as part of its security procedures.

"We discovered some of our clients were already using e-signature services from other providers, and we wanted to make sure they were accommodated," said Suzanne Mosher, national manager for 4506-T and SSN verifications for QuestSoft. "As our in-house partner, CIC helps assist companies to easily gather signatures for 4506-T services. Connecting with our clients' vendors can also help them with their workflow."

QuestSoft's verification software, Desktop VERIFY, assists credit unions, mortgage companies and banks with tracking and organizing their 4506-T requests with the IRS, and now with the inclusion of e-signatures, it can provide a paperless workflow.

Desktop VERIFY is part of QuestSoft's new Compliance VERIFY service, which offers the software free to QuestSoft's 4506-T clients along with a free software development kit to integrate its LOS and document vendors.

2014 Dates Announced For CUNA Enterprise Risk Management School(6)

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MADISON, Wis. (11/8/13)--Registration has opened for the CUNA Enterprise Risk Management for Directors & Executives, which will be held April 27-30 in Miami, Fla., said the Credit Union National Association.
 
The program, held in partnership with The Rochdale Group, a team of enterprise risk management (ERM) experts, provides credit union leaders with the skills and resources to establish a dependable risk management culture at their credit unions. 
 
"Enterprise risk management has emerged as one of the hottest topics in the industry," said Todd Spiczenski, senior vice president, CUNA Center for Professional Development. "We are seeing more and more successful credit unions incorporate an ERM approach to decision-making and risk management."

The Rochdale Group experts, Scott W. Hood and Jeff Owen, will walk attendees through the big concepts, the crucial details and their own insights. Their sessions will cover topics including:
  • Understanding ERM--Introduction to ERM Fundamentals;
  • ERM Roles and Responsibilities;
  • Board Liability;
  • Strategic Planning and Risk Roles;
  • Risk Appetite; and
  • Governance of ERM--Managing the ERM Program.
After four days of ERM-specific training, networking opportunities with other credit union decision-makers and expert advice from The Rochdale Group, CUNA Enterprise Risk Management for Directors & Executives will empower credit union leaders to thrive responsibly in today's competitive financial industry, CUNA said.

Use the link for registration and program details.

World Council Offers Webinar On Reaching Gen Y(6)

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MADISON, Wis. (11/7/13)--The World Council of Credit Unions is offering a free, Dec. 5 webinar on how credit unions can reach Gen Y--those elusive 20- and 30-somethings--and communicate the credit union difference through social media.
 
"Credit unions offer an inherent benefit based on member ownership and cooperative values, but few institutions understand how to communicate the credit union difference in a meaningful and effective way to Gen Y consumers," the World Council notes in its promotional materials.
 
The one-hour seminar, scheduled for 2-3 p.m. (CST), is based on a top-rated session attended by more than 400 credit union executives during this year's World Credit Union Conference. The webinar is offered as part of the World Council's "Build the Brand" program, created to develop strategies for credit unions to reach a younger audience through social media.
 
The scheduled presenters are:
  • Shel Holtz, Holtz Communication + Technology, California, an accredited business communicator and regular speaker on topics surrounding the application of online technology to strategic organizational communication;
  • Russell Allert, Queenslanders CU, Australia, who specializes in social media marketing, online marketing campaigns and social networking; and,
  • Tara Bross, Linn Area CU, Iowa, an award-winning marketing and graphic design expert.
The program will focus on the following three areas: The Gen Y profile and how credit union values match those of this important market segment; social media strategies to effectively reach Gen Y, and; real-life success stories from the United States and Australia. The webinar is sponsored by Vancity CU, Vancouver, Canada.

Use the resource link for registration information.  The second resource link goes to a time-zone converter provided by the World Council. A recording of the webinar will be available 24 to 48 hours after its completion.

2014 Dates Announced For CUNA Enterprise Risk Management School(5)

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MADISON, Wis. (11/8/13)--Registration has opened for the CUNA Enterprise Risk Management for Directors & Executives, which will be held April 27-30 in Miami, Fla., said the Credit Union National Association.
 
The program, held in partnership with The Rochdale Group, a team of enterprise risk management (ERM) experts, provides credit union leaders with the skills and resources to establish a dependable risk management culture at their credit unions. 
 
"Enterprise risk management has emerged as one of the hottest topics in the industry," said Todd Spiczenski, senior vice president, CUNA Center for Professional Development. "We are seeing more and more successful credit unions incorporate an ERM approach to decision-making and risk management."

The Rochdale Group experts, Scott W. Hood and Jeff Owen, will walk attendees through the big concepts, the crucial details and their own insights. Their sessions will cover topics including:
  • Understanding ERM--Introduction to ERM Fundamentals;
  • ERM Roles and Responsibilities;
  • Board Liability;
  • Strategic Planning and Risk Roles;
  • Risk Appetite; and
  • Governance of ERM--Managing the ERM Program.
After four days of ERM-specific training, networking opportunities with other credit union decision-makers and expert advice from The Rochdale Group, CUNA Enterprise Risk Management for Directors & Executives will empower credit union leaders to thrive responsibly in today's competitive financial industry, CUNA said.

Use the link for registration and program details.

World Council Offers Webinar On Reaching Gen Y

 Permanent link
MADISON, Wis. (11/7/13)--The World Council of Credit Unions is offering a free, Dec. 5 webinar on how credit unions can reach Gen Y--those elusive 20- and 30-somethings--and communicate the credit union difference through social media.
 
"Credit unions offer an inherent benefit based on member ownership and cooperative values, but few institutions understand how to communicate the credit union difference in a meaningful and effective way to Gen Y consumers," the World Council notes in its promotional materials.
 
The one-hour seminar, scheduled for 2-3 p.m. (CST), is based on a top-rated session attended by more than 400 credit union executives during this year's World Credit Union Conference. The webinar is offered as part of the World Council's "Build the Brand" program, created to develop strategies for credit unions to reach a younger audience through social media.
 
The scheduled presenters are:
  • Shel Holtz, Holtz Communication + Technology, California, an accredited business communicator and regular speaker on topics surrounding the application of online technology to strategic organizational communication;
  • Russell Allert, Queenslanders CU, Australia, who specializes in social media marketing, online marketing campaigns and social networking; and,
  • Tara Bross, Linn Area CU, Iowa, an award-winning marketing and graphic design expert.
The program will focus on the following three areas: The Gen Y profile and how credit union values match those of this important market segment; social media strategies to effectively reach Gen Y, and; real-life success stories from the United States and Australia. The webinar is sponsored by Vancity CU, Vancouver, Canada.

Use the resource link for registration information.  The second resource link goes to a time-zone converter provided by the World Council. A recording of the webinar will be available 24 to 48 hours after its completion.

World Council Offers Webinar On Reaching Gen Y(1)

 Permanent link
MADISON, Wis. (11/7/13)--The World Council of Credit Unions is offering a free, Dec. 5 webinar on how credit unions can reach Gen Y--those elusive 20- and 30-somethings--and communicate the credit union difference through social media.
 
"Credit unions offer an inherent benefit based on member ownership and cooperative values, but few institutions understand how to communicate the credit union difference in a meaningful and effective way to Gen Y consumers," the World Council notes in its promotional materials.
 
The one-hour seminar, scheduled for 2-3 p.m. (CST), is based on a top-rated session attended by more than 400 credit union executives during this year's World Credit Union Conference. The webinar is offered as part of the World Council's "Build the Brand" program, created to develop strategies for credit unions to reach a younger audience through social media.
 
The scheduled presenters are:
  • Shel Holtz, Holtz Communication + Technology, California, an accredited business communicator and regular speaker on topics surrounding the application of online technology to strategic organizational communication;
  • Russell Allert, Queenslanders CU, Australia, who specializes in social media marketing, online marketing campaigns and social networking; and,
  • Tara Bross, Linn Area CU, Iowa, an award-winning marketing and graphic design expert.
The program will focus on the following three areas: The Gen Y profile and how credit union values match those of this important market segment; social media strategies to effectively reach Gen Y, and; real-life success stories from the United States and Australia. The webinar is sponsored by Vancity CU, Vancouver, Canada.

Use the resource link for registration information.  The second resource link goes to a time-zone converter provided by the World Council. A recording of the webinar will be available 24 to 48 hours after its completion.

2014 Dates Announced For CUNA Enterprise Risk Management School

 Permanent link
MADISON, Wis. (11/8/13)--Registration has opened for the CUNA Enterprise Risk Management for Directors & Executives, which will be held April 27-30 in Miami, Fla., said the Credit Union National Association.
 
The program, held in partnership with The Rochdale Group, a team of enterprise risk management (ERM) experts, provides credit union leaders with the skills and resources to establish a dependable risk management culture at their credit unions. 
 
"Enterprise risk management has emerged as one of the hottest topics in the industry," said Todd Spiczenski, senior vice president, CUNA Center for Professional Development. "We are seeing more and more successful credit unions incorporate an ERM approach to decision-making and risk management."

The Rochdale Group experts, Scott W. Hood and Jeff Owen, will walk attendees through the big concepts, the crucial details and their own insights. Their sessions will cover topics including:
  • Understanding ERM--Introduction to ERM Fundamentals;
  • ERM Roles and Responsibilities;
  • Board Liability;
  • Strategic Planning and Risk Roles;
  • Risk Appetite; and
  • Governance of ERM--Managing the ERM Program.
After four days of ERM-specific training, networking opportunities with other credit union decision-makers and expert advice from The Rochdale Group, CUNA Enterprise Risk Management for Directors & Executives will empower credit union leaders to thrive responsibly in today's competitive financial industry, CUNA said.

Use the link for registration and program details.

2014 Dates Announced For CUNA Enterprise Risk Management School(3)

 Permanent link
MADISON, Wis. (11/8/13)--Registration has opened for the CUNA Enterprise Risk Management for Directors & Executives, which will be held April 27-30 in Miami, Fla., said the Credit Union National Association.
 
The program, held in partnership with The Rochdale Group, a team of enterprise risk management (ERM) experts, provides credit union leaders with the skills and resources to establish a dependable risk management culture at their credit unions. 
 
"Enterprise risk management has emerged as one of the hottest topics in the industry," said Todd Spiczenski, senior vice president, CUNA Center for Professional Development. "We are seeing more and more successful credit unions incorporate an ERM approach to decision-making and risk management."

The Rochdale Group experts, Scott W. Hood and Jeff Owen, will walk attendees through the big concepts, the crucial details and their own insights. Their sessions will cover topics including:
  • Understanding ERM--Introduction to ERM Fundamentals;
  • ERM Roles and Responsibilities;
  • Board Liability;
  • Strategic Planning and Risk Roles;
  • Risk Appetite; and
  • Governance of ERM--Managing the ERM Program.
After four days of ERM-specific training, networking opportunities with other credit union decision-makers and expert advice from The Rochdale Group, CUNA Enterprise Risk Management for Directors & Executives will empower credit union leaders to thrive responsibly in today's competitive financial industry, CUNA said.

Use the link for registration and program details.

World Council Offers Webinar On Reaching Gen Y(3)

 Permanent link
MADISON, Wis. (11/7/13)--The World Council of Credit Unions is offering a free, Dec. 5 webinar on how credit unions can reach Gen Y--those elusive 20- and 30-somethings--and communicate the credit union difference through social media.
 
"Credit unions offer an inherent benefit based on member ownership and cooperative values, but few institutions understand how to communicate the credit union difference in a meaningful and effective way to Gen Y consumers," the World Council notes in its promotional materials.
 
The one-hour seminar, scheduled for 2-3 p.m. (CST), is based on a top-rated session attended by more than 400 credit union executives during this year's World Credit Union Conference. The webinar is offered as part of the World Council's "Build the Brand" program, created to develop strategies for credit unions to reach a younger audience through social media.
 
The scheduled presenters are:
  • Shel Holtz, Holtz Communication + Technology, California, an accredited business communicator and regular speaker on topics surrounding the application of online technology to strategic organizational communication;
  • Russell Allert, Queenslanders CU, Australia, who specializes in social media marketing, online marketing campaigns and social networking; and,
  • Tara Bross, Linn Area CU, Iowa, an award-winning marketing and graphic design expert.
The program will focus on the following three areas: The Gen Y profile and how credit union values match those of this important market segment; social media strategies to effectively reach Gen Y, and; real-life success stories from the United States and Australia. The webinar is sponsored by Vancity CU, Vancouver, Canada.

Use the resource link for registration information.  The second resource link goes to a time-zone converter provided by the World Council. A recording of the webinar will be available 24 to 48 hours after its completion.

2014 Dates Announced For CUNA Enterprise Risk Management School(1)

 Permanent link
MADISON, Wis. (11/8/13)--Registration has opened for the CUNA Enterprise Risk Management for Directors & Executives, which will be held April 27-30 in Miami, Fla., said the Credit Union National Association.
 
The program, held in partnership with The Rochdale Group, a team of enterprise risk management (ERM) experts, provides credit union leaders with the skills and resources to establish a dependable risk management culture at their credit unions. 
 
"Enterprise risk management has emerged as one of the hottest topics in the industry," said Todd Spiczenski, senior vice president, CUNA Center for Professional Development. "We are seeing more and more successful credit unions incorporate an ERM approach to decision-making and risk management."

The Rochdale Group experts, Scott W. Hood and Jeff Owen, will walk attendees through the big concepts, the crucial details and their own insights. Their sessions will cover topics including:
  • Understanding ERM--Introduction to ERM Fundamentals;
  • ERM Roles and Responsibilities;
  • Board Liability;
  • Strategic Planning and Risk Roles;
  • Risk Appetite; and
  • Governance of ERM--Managing the ERM Program.
After four days of ERM-specific training, networking opportunities with other credit union decision-makers and expert advice from The Rochdale Group, CUNA Enterprise Risk Management for Directors & Executives will empower credit union leaders to thrive responsibly in today's competitive financial industry, CUNA said.

Use the link for registration and program details.

2014 Dates Announced For CUNA Enterprise Risk Management School(2)

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MADISON, Wis. (11/8/13)--Registration has opened for the CUNA Enterprise Risk Management for Directors & Executives, which will be held April 27-30 in Miami, Fla., said the Credit Union National Association.
 
The program, held in partnership with The Rochdale Group, a team of enterprise risk management (ERM) experts, provides credit union leaders with the skills and resources to establish a dependable risk management culture at their credit unions. 
 
"Enterprise risk management has emerged as one of the hottest topics in the industry," said Todd Spiczenski, senior vice president, CUNA Center for Professional Development. "We are seeing more and more successful credit unions incorporate an ERM approach to decision-making and risk management."

The Rochdale Group experts, Scott W. Hood and Jeff Owen, will walk attendees through the big concepts, the crucial details and their own insights. Their sessions will cover topics including:
  • Understanding ERM--Introduction to ERM Fundamentals;
  • ERM Roles and Responsibilities;
  • Board Liability;
  • Strategic Planning and Risk Roles;
  • Risk Appetite; and
  • Governance of ERM--Managing the ERM Program.
After four days of ERM-specific training, networking opportunities with other credit union decision-makers and expert advice from The Rochdale Group, CUNA Enterprise Risk Management for Directors & Executives will empower credit union leaders to thrive responsibly in today's competitive financial industry, CUNA said.

Use the link for registration and program details.

World Council Offers Webinar On Reaching Gen Y(2)

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MADISON, Wis. (11/7/13)--The World Council of Credit Unions is offering a free, Dec. 5 webinar on how credit unions can reach Gen Y--those elusive 20- and 30-somethings--and communicate the credit union difference through social media.
 
"Credit unions offer an inherent benefit based on member ownership and cooperative values, but few institutions understand how to communicate the credit union difference in a meaningful and effective way to Gen Y consumers," the World Council notes in its promotional materials.
 
The one-hour seminar, scheduled for 2-3 p.m. (CST), is based on a top-rated session attended by more than 400 credit union executives during this year's World Credit Union Conference. The webinar is offered as part of the World Council's "Build the Brand" program, created to develop strategies for credit unions to reach a younger audience through social media.
 
The scheduled presenters are:
  • Shel Holtz, Holtz Communication + Technology, California, an accredited business communicator and regular speaker on topics surrounding the application of online technology to strategic organizational communication;
  • Russell Allert, Queenslanders CU, Australia, who specializes in social media marketing, online marketing campaigns and social networking; and,
  • Tara Bross, Linn Area CU, Iowa, an award-winning marketing and graphic design expert.
The program will focus on the following three areas: The Gen Y profile and how credit union values match those of this important market segment; social media strategies to effectively reach Gen Y, and; real-life success stories from the United States and Australia. The webinar is sponsored by Vancity CU, Vancouver, Canada.

Use the resource link for registration information.  The second resource link goes to a time-zone converter provided by the World Council. A recording of the webinar will be available 24 to 48 hours after its completion.

World Council Offers Webinar On Reaching Gen Y(5)

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MADISON, Wis. (11/7/13)--The World Council of Credit Unions is offering a free, Dec. 5 webinar on how credit unions can reach Gen Y--those elusive 20- and 30-somethings--and communicate the credit union difference through social media.
 
"Credit unions offer an inherent benefit based on member ownership and cooperative values, but few institutions understand how to communicate the credit union difference in a meaningful and effective way to Gen Y consumers," the World Council notes in its promotional materials.
 
The one-hour seminar, scheduled for 2-3 p.m. (CST), is based on a top-rated session attended by more than 400 credit union executives during this year's World Credit Union Conference. The webinar is offered as part of the World Council's "Build the Brand" program, created to develop strategies for credit unions to reach a younger audience through social media.
 
The scheduled presenters are:
  • Shel Holtz, Holtz Communication + Technology, California, an accredited business communicator and regular speaker on topics surrounding the application of online technology to strategic organizational communication;
  • Russell Allert, Queenslanders CU, Australia, who specializes in social media marketing, online marketing campaigns and social networking; and,
  • Tara Bross, Linn Area CU, Iowa, an award-winning marketing and graphic design expert.
The program will focus on the following three areas: The Gen Y profile and how credit union values match those of this important market segment; social media strategies to effectively reach Gen Y, and; real-life success stories from the United States and Australia. The webinar is sponsored by Vancity CU, Vancouver, Canada.

Use the resource link for registration information.  The second resource link goes to a time-zone converter provided by the World Council. A recording of the webinar will be available 24 to 48 hours after its completion.

2014 Dates Announced For CUNA Enterprise Risk Management School(4)

 Permanent link
MADISON, Wis. (11/8/13)--Registration has opened for the CUNA Enterprise Risk Management for Directors & Executives, which will be held April 27-30 in Miami, Fla., said the Credit Union National Association.
 
The program, held in partnership with The Rochdale Group, a team of enterprise risk management (ERM) experts, provides credit union leaders with the skills and resources to establish a dependable risk management culture at their credit unions. 
 
"Enterprise risk management has emerged as one of the hottest topics in the industry," said Todd Spiczenski, senior vice president, CUNA Center for Professional Development. "We are seeing more and more successful credit unions incorporate an ERM approach to decision-making and risk management."

The Rochdale Group experts, Scott W. Hood and Jeff Owen, will walk attendees through the big concepts, the crucial details and their own insights. Their sessions will cover topics including:
  • Understanding ERM--Introduction to ERM Fundamentals;
  • ERM Roles and Responsibilities;
  • Board Liability;
  • Strategic Planning and Risk Roles;
  • Risk Appetite; and
  • Governance of ERM--Managing the ERM Program.
After four days of ERM-specific training, networking opportunities with other credit union decision-makers and expert advice from The Rochdale Group, CUNA Enterprise Risk Management for Directors & Executives will empower credit union leaders to thrive responsibly in today's competitive financial industry, CUNA said.

Use the link for registration and program details.

World Council Offers Webinar On Reaching Gen Y(4)

 Permanent link
MADISON, Wis. (11/7/13)--The World Council of Credit Unions is offering a free, Dec. 5 webinar on how credit unions can reach Gen Y--those elusive 20- and 30-somethings--and communicate the credit union difference through social media.
 
"Credit unions offer an inherent benefit based on member ownership and cooperative values, but few institutions understand how to communicate the credit union difference in a meaningful and effective way to Gen Y consumers," the World Council notes in its promotional materials.
 
The one-hour seminar, scheduled for 2-3 p.m. (CST), is based on a top-rated session attended by more than 400 credit union executives during this year's World Credit Union Conference. The webinar is offered as part of the World Council's "Build the Brand" program, created to develop strategies for credit unions to reach a younger audience through social media.
 
The scheduled presenters are:
  • Shel Holtz, Holtz Communication + Technology, California, an accredited business communicator and regular speaker on topics surrounding the application of online technology to strategic organizational communication;
  • Russell Allert, Queenslanders CU, Australia, who specializes in social media marketing, online marketing campaigns and social networking; and,
  • Tara Bross, Linn Area CU, Iowa, an award-winning marketing and graphic design expert.
The program will focus on the following three areas: The Gen Y profile and how credit union values match those of this important market segment; social media strategies to effectively reach Gen Y, and; real-life success stories from the United States and Australia. The webinar is sponsored by Vancity CU, Vancouver, Canada.

Use the resource link for registration information.  The second resource link goes to a time-zone converter provided by the World Council. A recording of the webinar will be available 24 to 48 hours after its completion.

Equifax Offers New Risk Score

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ATLANTA (11/7/13)--Equifax has launched its fourth generation Bankruptcy Navigator Index (BNI) score, a predictive bankruptcy risk score.

With BNI 4.0, lenders, including credit unions, can make more confident risk decisions into potential consumer bankruptcy, Equifax said.

"This is our most effective consumer bankruptcy risk score yet, providing deeper and more predictive insights driven by wider data and more powerful analytics," said John Cullerton, Equifax senior vice president of product innovation and management. "BNI 4.0 will give lenders the ability to predict and avoid potential consumer bankruptcies with improved performance and more consistent decision making."

BNI 4 can improve bankruptcy risk prediction by up to 10%, and increase score stability with random samples from the Equifax credit database, Equifax said. BNI 4.0 also can be integrated throughout the member lifecycle and with other Equifax risk tools.

Equifax BNI 4.0 risk score is available online for acquisition and onboarding, and offline for account review.

CUNA Strategic Services Makes Investment Into CU Solutions Group

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LIVONIA, Mich., and MADISON, Wis. (11/7/13)--CUNA Strategic Services (CSS) and CU Solutions Group (CUSG) announce that CSS has made a financial investment into CUSG. The investment gives CSS an ownership stake of CUSG and solidifies an existing marketing alliance between the two entities.
 
The investment, "in addition to our marketing alliance, further validates that our company is offering the right type of member-enhancement solutions to credit unions across the nation," said Dave Adams, CEO of CUSG. "Having the financial backing of an affiliate of our national trade association for credit unions brings a powerful voice to our organization."
 
"We believe CUSG's member enhancement offerings increase the credit unions' value and deepen the members' relationship with their credit union," said Wes Millar, senior vice president of CSS. "Our investment helps CUSG continue on the path of reinforcing this value proposition to America's credit unions."
 
The existing marketing alliance between CUSG and CSS was established to help bring greater awareness of CUSG's partnerships to credit unions to help drive auto loans, build member loyalty and generate non-interest income. The marketing agreement focuses on member offers and discounts for products and services like General Motor vehicles, Sprint wireless services, and Intuit TurboTax.

Missouri League Partners With Windstream

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ST. LOUIS  (11/7/13)--The Missouri Credit Union Association (MCUA) has partnered with Windstream, a communications and technology service provider.

Windstream, which provides communications and technology services, is known for its commitment to serving customers, said MCUA (The Missouri Difference Nov. 6).

The new partnership will give credit unions an opportunity to streamline communication technologies, said Ryan Dold, MCUA field representative.

"They can customize solutions for specific credit union needs," Dold said. "They work with companies big and small. Additionally, they are easily accessible because their offices are located throughout Missouri."

Windstream is offering a free month of service with any new contract.
 
Windstream has more than 75 years of experience serving the financial services industry, providing support in current and emerging network communications, security and information technology requirements, and helping credit unions reach strategic goals, increase productivity and effectiveness and ensure compliance with new and tighter government regulations. It offers services that can be customized to meet the needs of credit unions of all sizes.

The company's network services can link multiple branches, provide the ability for callers to contact any user with a three or four digit extension, reduce call expenses and improve member calling experiences with direct dial and seamless transfers, said MCUA.

CO-OP, El Circuito Cooperativo Inc. Extend Shared Branching In Puerto Rico

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RANCHO CUCAMONGA, Calif. (11/6/13)--CO-OP Financial Services announced Tuesday it will extend its partnership with El Circuito Cooperativo Inc., the company's Puerto Rican shared branching business partner.
 
Twenty-two credit unions and 59 branches participate in El Circuito Cooperativo Inc.
 
El Circuito Cooperativo Inc. signed a marketing agreement in October 2009 with Financial Service Centers Cooperative Inc. (FSCC) prior to FSCC's merger with CO-OP Financial Services in December 2011. The new agreement extends the relationship of the two companies to marketing, selling and servicing the CO-OP Shared Branching network throughout Puerto Rico.
 
"El Circuito has been an outstanding partner in our mutual goal of ensuring that credit union members in Puerto Rico have the same convenient access to branch services as the largest financial institution," said Sarah Canepa Bang, FSCC president/CEO and CO-OP Shared Branching chief strategy officer. "We look forward to not only extending the reach of shared branching in the Commonwealth, but working with El Circuito to help our clients transform their branches so they remain centers of useful services and revenue well into the future."
 
CO-OP Shared Branching enables members of participating credit unions to enter a branch of any other participating credit union and conduct their business as if they were in their home branch. The network includes 5,000 "live teller" branches in the U.S., as well as 2,000 self-service location.
 
"This new agreement allows us to work even more closely with CO-OP Shared Branching and provide a greater range of services to our clients," said Kerwin A. Morales Rivera, El Circuito Cooperativo Inc. president. "As the world's leading shared branch network, CO-OP Shared Branching is the right partner to help us advance the credit union movement in Puerto Rico."

Calif./Nevada Leagues Name TMG 'Supplier Of Year'

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DES MOINES, Iowa (11/6/13)--The California and Nevada Credit Union Leagues named Des Moines, Iowa-based payments processor The Members Group as its Supplier of the Year for supporting the leagues' credit union advocacy efforts.
 
Click to view larger image Des-Moines, Iowa-based payments processor The Members Group has been named the California and Nevada Credit Union Leagues' Supplier of the Year. From left, Bob Arnould, leagues senior vice president of advocacy; Chris Gunnare, TMG vice president of growth; Diana Dykstra, leagues president/CEO;  Brian Scott, TMG vice president of sales; Lesley Hastings, TMG director of new client partnerships; and Dan Lozier, TMG director of new client partnerships. (Photo provided by The Members Group)
TMG was chosen from more than 50 vendor partners who support credit unions in the two states.
 
TMG provides payment solutions, including credit, debit, ATM, prepaid and digital wallet, to community financial institutions, many of which are credit unions.
 
In advance of the leagues' annual meeting and convention, TMG leadership asked what the company could do to lend support creatively. The solution was for TMG to act as the sole financial sponsor of the annual meeting's Political Action Committee (PAC) Contributors Reception.
 
"Creating successful partnerships is a cornerstone of TMG's mission," said Shazia Manus. "Opportunities to team up with other leading credit union organizations to advance our industry are something for which we are grateful."
 
TMG is a regular contributor to many local fundraisers conducted by credit unions in these states and across the country.
 
The leagues' advocacy effort, led by a nine-person team, brings the voice of credit unions to federal and state regulators. With Congress focused on comprehensive tax reform, advocacy is a high priority credit unions nationwide, said TMG.
 
"Each of us at TMG understands the important role credit unions play in the lives of millions," said Chris Gunnare, TMG senior vice president of growth. "The sustainability of the movement depends on strong advocacy and involvement from every corner of the industry. We're proud to help amplify the voices of many who depend on credit unions for a healthy financial future."

CU Resources Teams With INTECH On Core Processing

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FARMERS BRANCH, Texas (11/5/13)--Credit Union Resources, a subsidiary of the Cornerstone Credit Union League, has signed an agreement with Innovative Technology Inc. (INTECH)--a company that provides data processing for small to mid-asset sized credit unions (Leaguer Nov. 4).

Credit Union Resources Inc. said that it hopes the deal will help member credit unions in Texas, Arkansas and Oklahoma modernize.
 
"Credit unions, in increasing numbers, are demanding a wider spectrum of services, and INTECH is committed to providing continued state-of-the-art products and services" said Bob Gallman, Credit Union Resources Inc. executive vice president and chief operating officer of resources.
 
"Whenever we endorse a product or service, we conduct a rigorous due diligence process to ensure it provides the best benefit and value for the price. INTECH's extensive range of products and services definitely meets that standard."
 
INTECH provides credit unions with products that enable home banking, mobile banking, remote deposits and online ATMs.

Member Driven Technologies Acquires CUsource

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WARREN, Mich. (11/4/13)--Member Driven Technologies (MDT), a Michigan-based credit union service organization (CUSO) that provides information technology services and solutions to credit unions, has acquired Great Falls, Mont.-based CUsource LLC, a provider of data processing, checking, mail, and security services.
 
CUsource will now be known as MDT--Western Operations. Shirley Bailey, CUsource president/CEO, will become senior vice president and general manager, Western Operations.
 
MDT is the largest CUSO serving Symitar's Episys community. Symitar is a provider of core processing solutions for credit unions, supports more than 650 credit unions (including six corporate credit unions) and about 40% of the credit unions with assets exceeding $1 billion with enterprise-wide automation.
 
In the past 10 years, MDT has expanded from five employees and servicing seven credit union clients in Michigan to over 125 people with 88 credit unions under contract in 31 states.  Combining MDT and CUsource will now give MDT a total of five facilities--two Montana locations and three office locations in Michigan, which include a recently opened, state-of-the-art data center.

CUNA, CDCU Federation To Host Webinar For VITA Tax Filers

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MADISON, Wis., and NEW YORK (11/1/13)--The Credit Union National Association and the National Federation of Community Development Credit Unions will host a webinar to discuss new products and services that can help credit union members who use the Internal Revenue Service's Volunteer Income Tax Assistance (VITA) program to make the most of their funds.
 
The webinar will be held at 2 p.m. ET, Nov. 18.
 
The IRS VITA program offers free tax help to people earning $50,000 or less. It provides trained and certified volunteers to help taxpayers access special tax credits and complete their forms.

The webinar will address the resources offered by:
  • IRS-Stakeholders Partnership Education Communication program;
  • Consumer Financial Protection Bureau;
  • SaveUSA; and
  • Doorways to Dreams.
 The impact of the Earned Income Tax Credit also will be discussed.
 
Speakers include:
  • Pamela Owens, National Federation of Community Development Credit Unions;
  • Tamara Lindsay, New York City Office of Financial Empowerment, SaveUSA; and
  • Joanna Smith-Ramani, Doorways to Dreams Fund.
 The webinar is appropriate for all levels of credit union staff and board directors who coordinate, partner and volunteer in VITA programs. For more information, use the link.

Newtek Hits $1B Milestone In Servicing

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NEW YORK (11/1/13)--Newtek Business Services Inc., The Small Business Authority, has exceeded the $1 billion milestone in its loan serving portfolio.
 
Newtek Business Services is a CUNA Strategic Services provider.
 
The $1 billion milestone was achieved when Newtek subsidiary and Small Business Administration-licensed 7(a) non-bank lender, Newtek Small Business Finance Inc., was selected to service a $400 million portfolio of SBA 7(a) loans for a large institutional client.
 
The servicing has transferred and is currently part of Newtek's loan servicing portfolio.
 
The milestone is "a level that not only represents a milestone in the company's operating history, but also exceeds our previously stated expectation, of at least $700 million for 2013, by a meaningful margin," said Barry Sloane, Newtek Business Services chairman, president and CEO. 
 
"Our ability to add this $400 million in loan servicing further demonstrates our industry-recognized expertise as a Standard and Poor's select-rated small-balance commercial loan servicer," Sloane added.
 
Newtek expects to grow the loan servicing aspect of its business across all 50 states through a combination of organic growth in loan origination volume and disciplined acquisition of third-party loan servicing opportunities, Sloane said. The company will update its servicing portfolio guidance for 2013, based on the recent addition of $400 million in loan servicing, and issue new guidance for 2014.