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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

Products Archive

Products

CUAnswers enhances 360-day mortgage payments

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GRAND RAPIDS, Mich. (5/29/09)--CU*Answers announced that CU*BASE has changed the way it handles member payments on mortgage loans with a 360-day interest calculation type. The changes are a part of the CU*BASE Gold 9.0 release, available now for online credit unions and June 3-4 for self-processors. CU*BASE can handle simultaneous posting of a regular payment and a separate principal-only payment, with two independent transactions and member-friendly descriptions, without using special teller procedure codes. Other enhancements include:
* New interactive user messages for handling any payment amount; * New secondary transaction descriptions, which document a member’s decisions to make a regular payment or principal-only payment; * The ability to configure mortgages to allow members to pay ahead; and * The ability to choose a monthly interest calculation date other than the 20th to match the day of the month used by loan participation partners.
CU*Answers is a credit union service organization in Grand Rapids, Mich.

Products and Services briefs (05/28/2009)

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* GRAND RAPIDS, Mich. (5/29/09)--Xtend Inc. announced a Web chat service for its business partners. The service has been deployed on several websites of key business partners. Chat requests are forwarded to Xtend’s Xtension Call Center for response. “We were looking for a way to test Web chat in a business-to-business environment and our partners were quick to respond,” said Scott Collins, Xtend president. “Our next step will be beta projects for credit unions--business-to-consumer communication from both their websites and home banking.” Xtend is a credit union service organization in Grand Rapids, Mich. ... * GRAND RAPIDS, Mich. (5/29/09)--A Michigan credit union service organization, Xtend Inc., has announced its seventh-annual stockholder’s meeting June 16 at its Grand Rapids headquarters. Xtend’s meeting also will coincide with Leadership Week events of its partner credit union service organization, CU*Answers. Each year, roughly 200 credit union professionals attend the meetings, according to Scott Collins, Xtend president ... * GRAND RAPIDS, Mich. (5/29/09)--WESCO Net has expanded its national management network to include monitoring of advanced Voice over Internet Protocol (VoIP) parameters to help credit unions troubleshoot existing VoIP deployments or certify networks prior to a VoIP installation. “Credit unions are looking at VoIP solutions as a way to save money and drive staff effectiveness,” said Dave Wordhouse, WESCO Net vice president of network technology. The VoIP services are being provided to credit unions nationwide, with the advanced management offered at no extra charge for WESCO Net-managed credit union clients ...

CUNA Mutual webinar on supervisory committees

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MADISON, Wis. (5/29/09)--A CUNA Mutual Group webinar will explore the importance of a credit union supervisory committee at 7 p.m. EDT on June 10. Registration is open for the free event, “What Your Supervisory Committee Should Do For You.” More than 400 credit union executives and volunteers already have signed up. The webinar will discuss the roles and responsibilities of a credit union’s supervisory committee, as outlined by the National Credit Union Administration, and focus on the non-financial institution professional serving as a volunteer on a credit union’s board and committees. “In today’s complex environment filled with rules, regulations and best practices, supervisory committee responsibilities are immense and growing every day,” said Joni Lovingood, CUNA Mutual risk manager and webinar instructor. “This session is ideal for credit union board and supervisory committee members, and it’s being held in the evening, which should be convenient for credit union volunteers.” The 2009 Credit Union Protection Webinar Series is designed to help credit unions address the most costly and most common risk areas in the industry.