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Contact center helps CU member in overseas emergency

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RICHMOND, Va. (7/29/09)--PSCU Financial Services’ contact center recently aided an Entrust FCU member who was overseas and needed emergency surgery for his child. The member was in Russia and had to pay for the $7,500 surgery in advance. After clarifying the member’s needs and relaying account information to an Entrust card service representative, a PSCU Contact Center member care representative extended the Entrust member’s daily limit so that his child could seek medical attention (Biotech Week July 22). PSCU Financial Services’ staff alleviated the member’s stress and saved his child’s life, according to Linda McAlister, Entrust vice president of information systems. Nearly half of Entrust’s members are overseas. Access to a call center at any time is key to providing members with good service, McAlister added. PSCU Financial Services offers credit union member support through four contact centers nationwide. The company is based in St. Petersburg, Fla. Entrust FCU, Richmond, Va., has $55 million in assets.

CUNA Mutual offers wealth protector product

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MADISON, Wis. (7/29/09)--CUNA Mutual Group is adding a new whole life product to its life insurance product suite--MEMBERS Wealth Protector. Wealth Protector is a single premium whole life policy that provides an increase to the policy owner’s legacy with a death benefit guaranteed by CUNA Mutual Insurance Society. It also provides a guaranteed amount of cash value for policy loans. CUNA Mutual said the policy is ideal for:
* Transferring assets from one generation to the next; * Leaving more to children, grandchildren and charities; * Reducing taxes for policy owners and their beneficiaries; and * Providing funds to cover funeral and related expenses.
“We’re excited about offering this product, because it’s an easy and secure way for people to transfer assets to the next generation,” said Greg Bailey, director, CUNA Mutual individual life insurance. “It also simplifies inheritances for beneficiaries as they receive the tax-free death benefit with the ability to bypass probate.” The cash value in the policy is exempt from required minimum distributions, which begin at age 70.5 for individual retirement accounts and other qualified plans. Policy owners can access their policy’s cash value through loans at any time. Part of the death benefit may be paid to the policy owner before death in qualifying situations, such as being diagnosed with a terminal illness or being confined to a nursing care facility.