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Products and Services briefs (05/13/2008)

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* NEWPORT BEACH, Calif. (5/14/08)--Mountain America CU and TruHome Solutions LLC each donated $5,000 for the recently launched “BUY CUSO” advertising campaign during the National Association of Credit Union Service Organizations Annual Conference in Las Vegas April 29. The BUY CUSO advertisements started April 28 on trade publication websites and will continue in trade publications and online. Don Clark, president of the West Jordan, Utah-based Mountain America presented the donation. Keith Varney, chief operating office of TruHome, located in Lenexa, Kan., presented TruHome’s donation ... * NEWPORT BEACH, Calif. (5/14/08)--CU*Answers, a credit union service organization based in Grand Rapids, Mich., received the 2008 National Credit Union Service Organizations (NACUSO) Collaboration and Innovation Award at NACUSO’s annual conference in Las Vegas April 28. Ongoing Operations LLC, a business continuity and disaster recovery systems credit union service organization, received an honorable mention ...

Future of network biz design a topic at NACUSO meeting

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NEWPORT BEACH, Calif. (5/14/08)--Industry experts discussed ways that credit unions can use network business design in a panel session at the National Association of Credit Union Service Organizations (NACUSO) 2008 Annual Conference in Las Vegas April 30. Credit unions can use network business designs to re-engineer their operations, said Randy Karnes, CEO of CU*Answers. Karnes’ presentation, “Will Network Business Design Capture the Imagination of Future Credit Union Leaders?” focused on networking through models like Google or Facebook, and how credit unions and credit union service organizations (CUSOs) could eventually start their own network. “We think there is more to this than simply marketing to consumers,” he said. “We believe it can work for every CUSO, and we believe it can work for every CUSO’s business plan. It will set an example for the entire credit union industry.” CUSOs could be at the “hub” of the network wheel, with the central hub surrounded by credit union satellites. The advantage would be that all credit unions and CUSOs in the network could see one another and transact together, Karnes added. Credit unions and CUSOs must collaborate with less talk and more implementation of solutions for credit unions and their members, said a panel of experts including Dave Serlo, president/CEO, PSCU Financial Services; Stan Hollen, president/CEO, CO-OP Financial Services, and Thomas Davis, NACUSO president. Leaders must define an industry model, and CUSOs must create their own business plans, including contracts and prices, to reduce collaborative barriers, the panel said. CUSOs proving their value through actions, sharing and ownership is a realistic way to reduce barriers ad challenge credit union leaders to collaborate more, said the panel.

Yodlee Postilion partner on online banking solutions

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REDWOOD CITY, Calif. and NORCROSS, Ga. (5/14/08)--Yodlee Inc. and Postilion, a software solutions provider for more than 1,250 credit unions, announced a partnership to deliver online banking solutions and develop new revenue-generating opportunity through online bill payment. Under terms of the agreement, Yodlee PersonalFinance and Yodlee DirectPay will be integrated into Postilion’s Retail and Business Internet Banking solutions. PersonalFinance helps credit union members manage spending, set budgets, monitor transactions, review cash flow trends and predictions, and protect against fraud. Members manage accounts online through their primary financial institution. DirectPay billers represent more than 40% of major U.S. billers by volume. They allow members to pay roughly half of their bills with a credit card. They also can earn rewards and same-day payment credit. DirectPay also can benefit credit unions as a source of interchange revenue. Postilion’s solutions, including Retail and Business Internet Banking, Voice Banking, ATM Driving, Card Management and Mobile, are packaged and developed to run on a single platform. They are managed on a single portal to meet the needs of credit unions.