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CU Direct Corp. passes 1000 client milestone

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CHICAGO (5/21/12)--CU Direct Corp.--the parent for CUDL, Lending Insights, Lending 360, CUDL Retail and Vero brands--has surpassed 1,000 credit union clients.

CU Direct announced that 1,006 credit unions, representing 28 million members nationwide, are now using the CUSO's lending solutions.

The Ontario, Calif.-based credit union service organization (CUSO) began operations in 1994, serving a small client base of California credit unions. The CUSO offers products and services to help credit unions advance their lending programs and achieve overall portfolio success.  In 18 years, CU Direct has grown to include its CUDL auto lending brand and Lending Insights portfolio management brand, and more recently its Lending 360, CUDL Retail and Vero brands.

Earlier this year, CU Direct announced it had signed new agreements with 128 credit unions in 2011 and had paid a 3% cash dividend to credit union shareholders for the seventh consecutive year, totaling nearly $1.4 million for 2011.

cbanc Network reaches 10000-users mark

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AUSTIN, Texas (5/21/12)--cbanc Network, an online collaboration community of 4,400 credit unions and banks, surpassed 10,000 financial institution-member users last week.

The network continues to add about 30 new members per day. cbanc reached the 10,000 milestone after starting with 80 members three years ago. The network has users from 15% of U.S. credit unions and 52% of U.S. banks.

"Getting 10,000 users means both banking and credit union professionals can find peer content solutions to just about any problem they post to the network," said Myers Dupuy, cbanc president. "Our goal is to get every bank and credit union professional in the industry collaborating with each other to solve any issue that arises."

About 90% of cbanc's growth has occurred since December 2010, which can be attributed to Google picking up the content that cbanc members provide on a daily basis--and to member referrals, Dupuy said.

The participation of the first 500 members was essential to cbanc's growth, Dupuy said. Their participation is what allowed Google to pick up cbanc as an information resource, he added.