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CU Village HRN Management Group form CU Solutions Group

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LIVONIA, Mich. (12/17/10)--CU Village and its sister company HRN Management Group will merge in January and will be known under a new name and brand: CU Solutions Group. "We brought CU Solutions Group together with one goal in mind--to help credit unions grow, remain strong and to better serve their members," said CU Solutions Group President/CEO Dave Adams. The merger now provides a "total suite of the products and services credit unions need--all under one umbrella." Shareholders of the two companies approved the merger in late October. While majority ownership is held by the Michigan Credit Union League & Affiliates, including its wholly owned subsidiary CUcorp, the new company is owned by 37 investors, including numerous leagues, credit unions and credit union system organizations around the country. A key strategy will be to work with leagues and other credit union system partners to bring solutions to the marketplace, such as it has done with its partnerships with Sprint and General Motors through the Invest in America program. CU Solutions serves nearly 3,000 credit unions nationwide and has partnerships with 37 leagues. It will maintain the same staff and offerings under four divisions that both work independently and support each other. Among its offerings:
* Technology Solutions, which will provide websites, consulting, custom solutions and e-business products and services, including its flagship content management system behind the InfoSight compliance system, and FindACreditUnion.com. * Marketing Solutions, a marketing and advertising agency designed to assist credit unions with their marketing needs. * Membership Enhancement Solutions, which delivers under the Invest in America brand, exclusive discounts on products and services for credit union members designed to drive business to credit unions, increasing value of membership and wallet share. * HRN Performance Solutions, a range of talent, compensation, governance and human resource management products and services to help improve organizational performance. This includes the well-known Performance Pro and Compease products.

CU among first to join S1-PayPal pact

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NORCROSS, Ga. (12/17/10)--Corporate America Family CU is among the first credit unions to offer person-to-person payments through an S1-PayPal agreement. To date, 10 financial institutions have signed with PM Systems, a subsidiary of S1, to offer person-to-person payments through PayPal. The agreement allows consumers to send money to almost anyone with a mobile phone or e-mail address through the PayPal network. To send money, the sender logs into online or mobile banking, enters the destination e-mail address or mobile phone number, and transfers the money. If the recipient is one of the 90 million PayPal users, the funds will be deposited instantly for verified accounts. If recipients do not have a PayPal account, prompts lead them to create one. Financial institutions can tailor pricing for this new offering to generate fee-based revenues. “We see person-to-person payments as a good opportunity to give our members added convenience and to differentiate our institution in our markets,” said Pete Paulson, CEO of Corporate America Family CU, Elgin, Illinois. “The integration with PayPal through S1 enables our credit union to meet our goals of providing 24x7 mobile payment services that meet our members’ needs.” Corporate America Family CU is a $540 million-asset institution.

Xtend boasts best year yet

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GRAND RAPIDS, Mich. (12/17/10)--Xtend Inc. had a special year in 2010, highlighted by the credit union service organization (CUSO) passing the $1 million sales mark for the first time. Preliminary numbers for the CUSO (for the fiscal year ending Sept. 30) reflected greater sales--1.33 million, a 47.6% increase for all of their business units. The largest hikes over 2009 results were seen at the Xtension Call Center ($406,000; up 107%), Communication Services ($157,000; up 79%), SRS Bookkeeping ($449,000, a 31% increase), Audit Link compliance-related services ($195,000; a 43% increase) and Mortgage Servicing ($99,000; a 21% increase). Xtend also reported a 37% overall revenue for its Member Reach e-messaging service, which delivered more than 3.5 million messages to members of 53 credit unions. Scott Collins, president of Xtend, said credit unions used Member Reach more this year to communicate regulatory changes and market new services.