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CUs add member accounts after automating financial services

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COSTA MESA, Calif. (3/10/09)--Associated CU, Norcross, Ga., and First Entertainment CU, Hollywood, Calif., experienced an increase in new member accounts after automating their financial services. First Entertainment accepted 154 new accounts, and Associated added 1,790. Also, “we’ve seen an increase in volume in our mortgage lending and secondary products like home equity loans,” added Jeffrey Bergum, Associated CU. Associated offers primary savings and checking accounts online, but hopes to expand to retirement accounts, holiday accounts and other products, Bergum said. Both credit unions automated their financial services through MeridianLink’s Opening Act, which can read and integrate live credit union data to improve document underwriting and opportunities to cross-sell products. MeridianLink, based in Costa Mesa, Calif., provides business solutions for the financial services industry.

Two leagues webinars on prepaid cards start today

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NAPERVILLE, Ill. (3/10/09)--The Illinois Credit Union League is offering a series webinars on its prepaid card program starting today. The league offers credit unions Visa TravelMoney through its CUMoney program. The Missouri Credit Union Association also is offering the webinars to its member credit unions. Two webinars will be held today--one from 10 a.m. to 11 a.m. CDT and another from 3 p.m. to 4 p.m. Another webinar is scheduled for 10 a.m. to 11 a.m. on Thursday. The webinars aim to educate credit unions about the prepaid card industry. The cards--which are good at 25 million merchants worldwide, can be instantly issued, and are reloadable and dispensable, according to the league. Prepaid cards have been the fastest growing form of payment in the past 20 years, the league said. The prepaid industry is expected to grow to $236 billion this year.