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CUAC launches first application provider service partner

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HOUSTON (4/14/08)--Credit Union Acceptance Company (CUAC) launched its first Application Provider Service (APS) implementation with Credit Union Lending Systems (CULS). CULS will use the CUAC APS to drive indirect lending applications from more than 300 Missouri and Illinois auto dealerships to the 31 credit unions it represents. “The program allows us to help credit union service organizations and credit unions receive applications from auto dealers without the large upfront costs typically associated with connecting to leading indirect lending platforms,” said Adrian Domiguez, CUAC president/CEO. CULS also will use the CUAC CU Member Auto Center to refer more than one million credit union members to enrolled auto dealers. The center is an online marketing tool for credit unions and allows members to research new vehicle model information and shop online for new pre-owned vehicles from dealers who serve credit unions. CULS is based in St. Louis, Mo. CUAC facilitates auto lending services in eight states with 89 credit unions.

Products and Services briefs (04/11/2008)

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* BROOKFIELD, Wis. (4/14/08)--Fiserv announced it has launched CheckFree Biller Direct HV, which allows credit unions to integrate electronic billing with their websites. Credit unions can control bill payment presentation and branding, while CheckFree manages bill delivery and payment processes. Members can choose from a variety of payment methods, including on-time, automated and scheduled payments. Biller Direct is the newest solution in Fiserv’s suite of electronic billing and payment solutions. Fiserv provides information management, electronic commerce systems and services to financial institutions, including credit unions ... * WESTBROOK, Maine (4/14/08)--Synergent converted Maine-based Ocean Communities FCU, Biddeford, and Evergreen CU, Portland, to its Episys platform. Synergent is a subsidiary of the Maine Credit Union League. It provides technology, business and service solutions to credit unions ... * CULVER CITY, Calif. (4/14/08)--ValuFinders Inc., which works with mortgage lenders and credit unions, has hired Nancy Harris as vice president of business development in the Western Region division. Harris will manage sales activities for ValuFinders’ Web-based products and services. She previously worked at a brokerage firm as a broker/president. ValuFinders works with the U.S. Department of Housing and Urban Development, providing the agency with technology to track and manage its inventory of properties ... * HONOLULU (4/14/08)--PCLender.com has rebuilt its primary corporate website, http://pclender.com. The site includes access to multi-media presentations, white papers, lender testimonials, product specifications and information request forms. It also uses Google for searches. PCLender serves credit unions with its mortgage lending platform, InHouse Mortgage ... * TALLAHASSEE, Fla. (4/14/08)--The Florida Credit Union League’s educational department, KNOWMORE, has partnered with the California Credit Union League to offer a series of educational webinars relevant to credit unions. The program will offer 26 webinars starting this month ...

Reverse mortgages fees topic of two CUNA Council papers

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MADISON, Wis. (4/14/08)--Credit unions can learn the inner workings of reverse mortgages in the first of two new white papers from the CUNA Councils. Few credit unions offer reverse mortgages. Those that do generally outsource the servicing. “Reverse Mortgages: A Product Poised for Exponential Growth,” sponsored by the CUNA Lending Council, explores how these mortgages work, their market, and available options. The paper also looks at the product’s potential in credit unions and some pre-launch considerations, including the risks and the importance of member education. The second new white paper, entitled “Generating Non-Interest Income,” examines a variety of different views on the subject. Some credit unions say that non-interest income and fees have become an economic necessity given the current economic environment. The CUNA Chief Financial Officer Council-sponsored paper also offers a member-centric philosophy and approach to fees by stating that the income directly benefits members in competitive savings and loan rates rather than in bank shareholder returns. CUNA Council members can receive complimentary copies of the white papers. Non-members may purchase the white papers for $50 per copy. For more information, use the links.