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CU Solutions LEVERAGE in marketing agreement

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LIVONIA, Mich. (5/31/11)--A joint marketing agreement has been signed by CU Solutions Group and LEVERAGE, the service corporation of the League of Southeastern Credit Unions for a suite of products for credit unions in Alabama, Florida and nationally. They will offer credit unions marketing, technology, membership enhancements, human resources solutions, vendor management and auto remarketing. The alliance shows the collaborative spirit among leagues to market products nationwide, said the corporations. The three year-agreement means Alabama and Florida credit unions will have access to Livonia, Mich.-based CU Solutions Group products. These include "Invest in America" enhancement solutions with Sprint, General Motors, Turbotax and others; website design, content, security and applications solutions; full-service marketing support; and HRN performance solutions such as Performance Pro, Compease and Policy Pro. CU Solutions Group will market nationally LEVERAGE's Ventelligence vendor management product and its Auto Remarketing solution. The contracts were signed May 23 and will be implemented in the next few weeks.

Patelcorp Save Daily launch CU investment service

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PLEASANTON, Calif. (5/31/11)--Patelco CU's investment and insurance subsidiary, Patelcorp Inc., is launching a new investment savings product in partnership with Save Daily to allow credit unions to make investing easy and affordable to their members. With InvestDaily, members can invest as little as $5 at a time automatically into a select list of mutual funds. Pleasanton, Calif.-based Patelco CU is the first credit union to offer the service. In the program, members can designate the amount and frequency of their investments, which are deducted from any number of accounts they choose, either within the credit union or elsewhere. There is no penalty to redeem the shares and monthly fees are $5.95 per month plus a small asset management fee. InvestDaily's registration process requires completing "suitability" question to determine the member's risk tolerance and investment goals. The tool assists members in determining how they feel about the stock market's fluctuations. According to Scott Waite, senior vice president and chief financial officer at Patelco and CEO of Patelcorp, the service is easy for members to set up and use, and for credit unions to make available. "Until now, many members have felt that they were locked out of investing in mutual funds because of perceived high minimums," said Waite. The solution "opens up the opportunity for everyone to earn a better return on their money and bridge the retirement income gap. It's also a great way for young investors to start building their savings for that first home or auto purchase." SaveDaily is based in Orange County, Calif. Through the partnership, Patelcorp will help promote the SaveDaily platform to other credit unions.