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Products

eDOC Innovations offers new paper conversion service

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MIDWAY, Utah, and MIDDLEBURY, Vt. (2/25/10)--eDOC Innovations, a credit union service organization that provides e-document management and strategic collaboration, announced its new paper conversion service, Image Now, for credit unions going paperless. "As credit unions 'go green,' one challenge they all have is converting their previous internal paper base into secure electronic documents," said Bret Weekes, president/CEO of eDOC Innovations. Image Now "reduces the strain of a self-conducted paper conversion, and enables credit unions to focus on running their business," he said. Progressive CU, a $344 million asset credit union based in New York, N.Y., used the conversion service to convert 90 years' worth of paper operation. "Leveraging eDOC's paper conversion service reduced our projected internal costs by 38%. That translated to thousands of dollars in cost savings, not to mention convenience," said Charles Rogers, Progressive CU chief operations officer.

FSCC Shared Branching has 10th dividend revamped site

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ONTARIO, Calif. (2/25/10)--Financial Services Centers Cooperative Inc. (FSCC), a credit union Shared Branching Network, announced Wednesday it will return $640,000 in patronage dividends to participating credit unions for Shared Branching transactions in 2009. It is the 10th consecutive year FSCC has provided patronage dividends to its shareholders. The latest amount brings the total paid to participating credit unions in the past decade to $14.5 million in patronage dividends, rebates and return of capital. The 2009 dividends will be distributed after FSCC completes its annual audit this spring. Shareholders will receive the dividend for acquired transactions performed in their branches and shared branch kiosks owned by participating credit unions. "2009 has been a difficult year for many of our credit unions," said Steven M. Stapp, FSCC chairman and CEO of San Francisco FCU. "Because FSCC is owned directly by its credit unions, an environment that is challenging for our credit unions is also challenging for us." FSCC President/CEO Sarah Canepa Bang said, "Even with the economic climate we faced in 2009, we continued to expand the network and its capabilities. Being able to pay a dividend in one of our toughest years is an accomplishment." She noted credit unions' commitment to staying connected and providing convenient access to members contributed to FSCC's ability to provide the dividend. Earlier this week, FSCC unveiled its new brand identity and launched a more streamlined website. The identity emphasizes the company's connectivity. The new look is featured on the redesigned website at www.fscc.com.

CO-OP Shared Branching hits 4000 locations

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RANCHO CUCAMONGA, Calif. (2/25/10)--CO-OP Shared Branching has reached a milestone with members of participating credit unions now accessing 4,000 Shared Branching locations throughout the U.S. In addition to 4,000 full-service branches, credit union members also have access to their accounts at 2,300 CO-OP Shared Branching kiosk locations. Today CO-OP Shared Branching, from CO-OP Financial Services, ranks fourth in the nation by number of branches, behind Wells Fargo/Wachovia, Bank of America and Chase. "Despite the emergence of new access channels, such as mobile banking, credit union members still want the ability to walk into a branch to handle their financial needs, and they want that branch to be convenient," said Carroll Beach, president/chief operating officer of CO-OP Shared branching. Participating credit unions also can use CO-OP's Next Generation network to serve member needs. They can access CO-OP Network with its 28,000 surcharge-free ATMs; CO-OP Mobile (mobile banking); CO-OP Fast Branch (kiosks); CO-OP My Deposit (remote deposit) and CO-OP Member Center (member and lending service call center).