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Products Archive

Products

FSCC pays 1M in patronage dividends

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ONTARIO, Calif. (6/13/11)--Credit union shared-branching network Financial Service Centers Cooperative Inc. (FSCC) announced the return of more than $1 million in patronage dividends to participating credit unions for shared branching transactions performed in 2010. Roughly $200,750 or 20% of the total dividend was paid out in cash on June 8 to shareholders for acquired transactions performed in their branches and shared-branching kiosks owned by participating credit unions. The remaining 80% is distributed in a written notice of allocation. During the past decade, FSCC has returned more than $14.5 million in patronage dividends, rebates, and return of capital to its participating credit unions. The 2010 dividend brings that total to more than $15.5 million. This marks the 11th consecutive year that FSCC has paid dividends to its shareholders, averaging more than $1 million each year for more than a decade.

NWCUA Services Corp. teams up with CU Solutions Group

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LIVONIA, Mich (6/13/11)--Credit unions served by Northwest Credit Union Association’s (NWCUA) service corporation will have access to products offered by the CU Solutions Group through a new marketing agreement. “We decided to expand our relationship with CU Solutions for our members,” said John Annaloro, NWCUA CEO. “The newly formed CU Solutions Group will provide Northwest credit unions good products at lower prices through programs like Invest in America.” The agreement includes CUSG products such as Invest in America member enhancement solutions with Sprint, General Motors and 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. The products will be available to NWCUA member credit unions in the next few weeks. The arrangement includes opportunities for joint ownership, brand integration with the NWCUA, and joint sales efforts in the states served by the association. As part of the agreement, CUSG will be using its sales force and marketing channels to promote the profitability of all affiliated members.

CheckFree now supports A2A transfers P2P payments

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BROOKFIELD, Wis. (6/13/11)--CheckFree RXP money movement platform from technology provider FiServ has been expanded to support account-to-account transfers and same-day bill payments. The new functionalities integrate with the existing bill payment and person-to-person payment capabilities available through CheckFree RXP to create a digital payments suite for credit unions and banks. While the elements of this suite can be used separately, they are designed to drive increased transactions when offered together. “Consumers send and receive money many ways every day, and financial institutions can win more transactions by offering a wider set of payment services,” said Tony Catalfano, division president, electronic payments for Fiserv. “Fiserv data show that financial institutions that are offering person-to-person payments along with bill payments are seeing an increased number of overall transactions among users, and we expect to see similar increases with the addition of account-to-account transfers to CheckFree RXP.” The new account-to-account transfer capabilities in CheckFree RXP allows users to transfer funds into and out of checking, savings and money market accounts within the same financial institution or between different financial institutions. Users can choose one-time or recurring transfers, and choose from a variety of alerts and reminders to help them stay up to date on their transfer activity. Account-to-account transfer capability can be integrated into the bill payment user interface or presented independently, depending on the preference of the financial institution. Financial institutions have the option to charge for transfers, and can set separate fees, based on internal or external account transfers. Fees also can be tiered, based on user characteristics through the fee manager capability within CheckFree RXP. CheckFree RXP clients also can pay a variety of household bills through financial institution websites the same day they are due, a service typically only available at biller-direct websites. Consumers will be able to select same day delivery as part of the normal payment scheduling process, for an uninterrupted service experience at the financial institution website.