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CashEdge awarded funds transfer transaction patent

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NEW YORK (2/13/08)--CashEdge received a patent for a funds-transfer method that allows individuals to transfer funds between their accounts hosted at different financial institutions. It also can fund new accounts at new financial institutions. Under the patent, a third party financial management system can withdraw assets from an account at one financial institution and deposit the assets into a second account at a second financial institution. A debit instruction initiates the withdrawal and a credit instruction initiates the deposit. “The patent lays the groundwork for our next generation payment platform that enables transfers across multiple payment networks,” said CashEdge Vice President of Marketing Jeremy Sokolic. CashEdge provides financial applications to financial institutions, including credit unions.

CUNA Brokerage Services sales conference this week

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MADISON, Wis. (2/13/08)--FOCUS 2008, a national sales conference for financial advisors and sponsored by CUNA Brokerage Services Inc., begins today at the Sheraton Atlanta. The conference will end Sunday. It offers more than 30 workshops with topics that include retirement income planning, structuring annuity contracts, gifting strategies, Six Sigma investing, unified managed accounts and investing in real estate. Many workshops meet continuing-education credit requirements. Annual compliance training also will be offered. Pat Croce, author and former team president of the Philadelphia 76ers, and Jerry Linenger, former NASA astronaut, will be guest speakers.

FCUL Service Group to offer Experians ScoreRight

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TALLAHASSEE, Fla. (2/13/08)--FCUL Service Group has partnered with credit bureau Experian to offer ScoreRight to member credit unions. ScoreRight is a credit score tool that helps credit unions educate their members about how their financial decisions impact credit scores. Providing information on how financial decisions influence credit scores can improve loan closing efficiency, reduce rate shopping, increase repeat business, strengthen member relationships and attract new membership, according to FCUL Service Group. Credit bureaus use several factors to determine a credit score, including the number of credit accounts held by an individual, payment history, delinquent accounts, public records and the length of time an account has been open. FCUL Service Group is a wholly owned subsidiary of the Florida Credit Union League.