Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

Products Archive

Products

Palmetto Rosetta team up on image returns

 Permanent link
IRMO, S.C. (2/18/10)--Palmetto Cooperative Services (PCS), a credit union service organization, and Rosetta Technologies, a provider of printers and software solutions, announced that PCS has begun reselling Rosetta’s Image Replacement Document (IRD) Express Pack to credit unions. The pack has a 30-page-per-minute Magnetic Ink Character Recognition printer, IRD paper and toner. PCS developed the image-return product in response to a growing concern among credit union clients about the Federal Reserve Bank’s exit from IRD printing. If the Fed consolidates item printing to one location in Cleveland, credit unions anticipate delays in their receipt of printed IRDs, said PCS. The Federal Reserve also has said it would no longer send advanced notification e-mails to institutions. The e-mails notify institutions of their in-clearing returns so they can extend and hold on the item prior to receiving the printed IRD, which reduced the risk that the item would come off hold and be available to the depositor for funds withdrawal. PCS’ image return service allows members to receive their files daily through e-mail. The Express Pack prints the files, which are processed and delivered to the depositor. The process can be reduced to less than a day, as opposed to 72 hours in most cases, the company said. “In the short time this service has been available, we’ve had a tremendous response from our credit union customers,” said Mark Curran, PCS senior vice president of business development.

ALM First now managing 11.2 billion in funds

 Permanent link
DALLAS (2/18/10)--ALM First Financial Advisors, an advisory firm for credit unions, now has more than $11.2 billion in funds under advisement. In the past year, ALM added 27 new credit unions, representing 134 clients from 31 states. The firm also began offering regional education sessions. “Our clients have told us how much they appreciate the knowledge and experiences we share during our interactions with credit unions,” said ALM First Partner Angela Calvert. “Due to this positive feedback, coupled with the current economic climate, we plan to expand this program during 2010, providing a chance for clients to learn and interact with our staff firsthand.” Consumers’ flight to safety has caused credit unions’ liquid assets to grow significantly, contributing to their need for sound financial advice, Calvert said. A current hot topic right now is determining when it makes sense for credit unions to explore merger opportunities. Also, new financial legislation will affect credit unions, she added.

CO-OPs GAC exhibit to feature video games demos

 Permanent link
RANCHO CUCAMONGA, Calif. (2/18/10)--CO-OP Financial Services will have interactive video games, demos and offer prizes at its booth at the Credit Union National Association’s (CUNA) Governmental Affairs Conference (GAC) in Washington, D.C., next week. CO-OP will be located at Booth 309 in the exhibit hall of the Washington Convention Center Sunday through Tuesday. The GAC starts Sunday and ends Thursday. CO-OP’s five business lines will each be supported by a video game and demo. Drawings for an Amazon Kindle e-book reader also will be held. The booth will feature displays on network services, payment processing, e-commerce solutions, CO-OP Shared Branching and call center services. Also debuting at the GAC is CO-OP Mobile’s Multi-Mode Platform, which will support text banking, a mobile Web browser and downloadable applications for devices such as iPhones. CO-OP is a contributing sponsor of the Gala Reception and Dance at the convention center, which begins at 7 p.m. Wednesday. CO-OP, a credit union service organization that offer 28,000 surcharge-free ATMs, is located in Rancho Cucamonga, Calif.