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Xtend streamlines loan services

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GRAND RAPIDS, Mich. (3/2/12)--Xtend Inc., a Grand Rapids, Mich.-based credit union service organization, has introduced a new front-office lending service to support its Xtension Call Center.

The new service, which has been deployed at Pontiac, Mich.-based Affinity Group CU, streamlines the process of moving loan leads into the credit union's loan origination pipeline when initiated by call center agents. 

The new service helps "pave the way for a new, low-cost delivery channel for our credit union owners and partners,  said Scott Collins, Xtend president. "As our call center grows, our mission is to look for additional ways to help our credit unions survive and thrive. Helping them get more loans into their pipeline is imperative, and doing so at an affordable price point is consistent with our disruptive pricing strategy.

"This latest solution does both of those things--it allows our agents to push leads into the lending queue quickly and effectively, which means we only need to charge a nominal fee," he added.

TMG reloadable prepaid cards aim to reach underserved

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DES MOINES, Iowa (3/2/12)--The Members Group (TMG), a provider of card processing and payment systems, has added instant issuance to the list of features on ATIRA- and Coopera-branded reloadable prepaid cards to assist credit unions in reaching the underserved market, TMG said.

"It's difficult for someone without a traditional banking relationship to hand over his hard-earned cash and then wait five to seven days for his card to arrive," said Konrad Christensen, TMG's retail payments product manager. "Being able to supply that card immediately will help financial institutions clear one of the major hurdles that come with introducing underserved communities to the financial mainstream."

TMG has modified its program so financial institutions no longer need to secure a Taxpayer Identification Number from a reloadable prepaid card applicant. This will make it simpler for financial institutions to begin offering vital financial services to immigrant populations, Christensen said.

Instant issuance will be available on TMG's ATIRAreload product and the  Coopera Card, a reloadable prepaid card, built specifically for the Hispanic market, offered by Coopera in partnership with TMG.