RANCHO CUCAMONGA, Calif. (3/28/12)--CO-OP Financial Services is adding Android support to its CO-OP My Deposit Mobile service, which means credit union members can deposit checks to their accounts from their phones.
Adding the service "helps credit unions gain a competitive advantage because many financial institutions that have mobile products have not yet deployed a remote deposit function," said Stan Hollen, president/CEO of CO-OP Financial Services. The new functionality "also adds to a credit union's ability to offer convenient access to accounts for members, which is what all CO-OP products are designed to do."
For credit unions, the new product means they can better appeal to younger, tech-savvy members. For members, CO-OP My Deposit Mobile eliminates geographic restrictions and allows them to access their accounts anytime, anywhere.
The service is an add-on to CO-OP Mobile, allowing credit unions to capture, proof and clear digital check images submitted by members using their smart phones. The product has been available to iPhone users for more than one year.
The Android deposit function, which requires deployment of a new Android application, is available to credit unions immediately. It works similar to the iPhone function. Members take pictures of the check front and back, enter the amount, select the deposit account and upload the images. The interface design and navigation is similar to the Android's browser mode for CO-OP Mobile.
WASHINGTON (3/28/12)--A free webinar on financing manufactured homes, co-presented by I'm Home, the National Federation of Community Development Credit Unions (NFCDCU) and Fair Mortgage Collaborative, will be held at 3:30 ET April 5.
The webinar will explain the characteristics of the low- and moderate-income market and highlights the approaches taken by two community credit unions--BECU, Tukwila, Wash., and Self-Help CU, a community development credit union based in Durham, N.C.
Credit unions, finance professionals and manufactured home stakeholders can learn about credit union innovations and findings from data analysis of almost $1.5 billion in manufactured loan data reported by I'm Home's Single Family Finance initiative.
SAN FRANCISCO (3/28/12)--BALANCE, a financial education and counseling service for credit union members, now offers OnTrack, an online budgeting and financial empowerment tool.
OnTrack guides users through the steps of creating a budget that helps them reduce debt or realize goals, such buying a car or a home.
Upon completion of their OnTrack budget, users may submit their information to BALANCE for a counseling session, or opt to inform their credit union that they've completed a money management plan as part of a requirement set for certain products or services.
OnTrack users also can notify their credit union that they would like more information about particular financial products offered by the credit union.
More than 600 credit unions nationwide, representing more than 28 million members, partner with BALANCE to strengthen member relationships, reduce losses, support salary advance or overdraft privilege programs, provide identity theft tools and support, and provide critical financial management tools for their members. Many use the partnership as an outreach tool to serve the underserved in their communities, as an additional selling point to current and potential select employee groups, and to differentiate themselves from other financial institutions.