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CU Direct Corp. OKs 3 dividend

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ONTARIO, Calif. (3/7/11)--CU Direct Corp., parent for the CUDL Lending Insights and new Lending 360 and CUDL Retail brands, announced its board of directors has approved a 3% dividend on the current share price of $1,000, totaling $1.4 million, to its 91 member credit union shareholders for 2010. This is the sixth consecutive year that the credit union service organization has paid dividends to its credit union shareholders. CU Direct, which has 10 regional offices throughout the U.S., signed new agreements with 160 credit unions in 2010. As a result, at the year's end more than 930 credit unions serving 27.5 million members were incorporating the CUSO's lending solutions and services to enhance their lineup of member products and services, and to maximize their process and cost efficiencies. In a year where the continuing economic downturn once again took center stage, CU Direct's CUDL lending platform generated more than 419,000 auto loans at dealerships nationwide, while CUDL credit unions were the seventh largest vehicle lender in 2010. The CUSO also reported that 34% of the loans its system generated in 2010 went to existing credit union members at the point of purchase (in the dealership).

Panini first to market with RDC for Macs

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DAYTON, Ohio (3/7/11)--Payments processing provider Panini has introduced a Mac interface for its remote-deposit capture (RDC) check scanners. Panini is a CUNA Strategic Services provider. Apple Macintosh market share of the desktop market was 11.41% as of October, according to Net Applications. “There are a significant number of Mac-based small businesses and consumers that, until now, haven’t been able to take advantage of RDC, so this initiative has been a priority for Panini,” said Michael Pratt, Panini chief marketing officer. Panini’s new Mac interface includes native support in the Mac OS X operating system, is based on Vision API version 3.6 and supports its check scanning products, Vision X and I:Deal. Panini is involved in strategic initiatives involving the new Mac OS X capabilities and will make additional announcements, including new customers, partnerships and channels, Pratt said.

CU Centers announces five new directors

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INDIANAPOLIS (3/7/11)--Members of shared-branching vendor Credit Union Centers have elected five new directors to represent the credit union service organization (CUSO). Each director, who was elected on Jan. 25, will serve a three-year term. Two are designated as regional directors, and three are designated “at-large.” The at-large directors were elected by a plurality vote of all Credit Union Centers participants. Regional directors represent each of the CUSO’s six regions. Regional directors:
* Mike Hussey, Tech CU, Crown Point, Ind. (Region 1); and * Lisa Williams, Pinnacle CU, Fort Wayne, Ind. (Region 3).
At-large directors:
* Jill Banning, REGIONAL FCU, Hammond, Ind.; * Heather Nally, Purdue FCU , Lafayette, Ind.; and * Connie Perry, Eli Lilly FCU, Indianapolis.
Other Credit Union Centers directors who continue to serve include:
* Karol Griffin, Teachers CU, South Bend, Ind. (Region 2); * Kristi Lowell, FORUM CU, Indianapolis (Region 4); * Doug Harris, Centra CU, Columbus, Ind. (Region 5); * Sue Hejnosz, Credit Union 1, Rantoul, Ind. (Region 6); * Dave Abernathy, Via CU, Marron, Ind. (At-Large); * Dallas Bergl, INOVA FCU, Elkart, Ind. (At-Large); * Chuck Donovan, Members Source CU, Merrillville, Ind. (At-Large); and * Frances Tooley, Finance Center FCU, Indianapolis (At-Large).
Credit Union Centers comprises 72 credit unions located in Indiana, Illinois and Tennessee. The CUSO offers shared-branching services through its 253 service centers and outlets. Credit Union Centers member credit unions offer more than 4,200 locations nationwide available to their members through their partnership with CO-OP Shared Branching, which controls 80% of the national shared branching market.

Synergent offers new shared branching kiosks

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PORTLAND, Maine. (3/7/11)--Synergent has launched shared branch kiosks in lobbies and other locations throughout Maine.
Click to view larger image St. Jean’s CU, Lynn, Mass., has signed an agreement to use Synergent Technology Services, the Episys core processing solution from Symitar, and Synergent’s Statement Processing Services. The $132 million-asset credit union has also signed on to Synergent Card Services Debit/ATM Card Processing Platform. Meeting to sign agreements are (from left) Jeff Gray, senior vice president, Synergent; David Surface, president/CEO, St. Jean’s CU; John Murphy, president/CEO, Synergent; Fred Barber, account executive, Synergent, and Gary Glenn, senior vice president, Synergent. (Photo provided by The Maine Credit Union League)
The kiosks go beyond the services offered by ATMs, allowing members to make loan payments, get loan advances, make money transfers or withdrawals, and make cash or check deposits without slips or envelopes. A subsidiary of the Maine Credit Union League, Synergent provides credit unions with technology services, card services and check processing and support services. It also has a direct marketing services division. University CU, a $189 million-asset institution in Orono, Maine, recently introduced the kiosks to its membership. For those members apprehensive about the new technology, the credit union employed “technology liaisons” to assist with the registration process and explain the kiosks’ functionality. The $185 million asset Five County CU, Bath, Maine, has also implemented the kiosks. “We felt it was important to make this investment to ensure that our members, and members of credit unions who utilize shared branching, have access to their accounts beyond the extended hours we already offer,” said Mike Foley, vice president of Five County CU.