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IICU Day UpdatesI free newsletter available

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MADISON, Wis. (7/31/09)--To help credit unions prepare for International Credit Union (ICU) Day, the Credit Union National Association (CUNA) is starting to send out ICU Day Updates, a free e-newsletter. It will offer credit unions’ tools, tips and celebration ideas for ICU day, set for Oct. 15. To subscribe to the newsletter, respondents should send their name, credit union name and state to

ClairMails mobile banking transactions up 700

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NOVATO, Calif. (7/31/09)--ClairMail, a mobile banking and payments solutions provider, announced that The ClairMail Solution experienced a 700% year-over-year increase in monthly mobile banking transactions. ClairMail processes transactions for credit unions and other financial institutions. The increase is due to the accelerated mobile banking adoption by consumers, ClairMail said. “As our customers enhance their current mobile services and move to the latest version of ClairMail, we can expect an even bigger spike,” said Joe Salesky, ClairMail chairman and chief strategy officer. ClairMail also noted 2008 research from Javelin Strategy and Associates that indicates an opportunity still exists to drive mobile banking adoption with consumers who are not enrolled in online banking. Credit unions should rely on their Internet banking users to drive adoption, but also need to explore additional channels to grow their mobile efforts, the research said.

Automated auto-loan participation product released

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DENVER (7/31/09)--Access Capital Investment Group (ACIG) has released AXS/RDS, an auto-loan participation product for credit unions. The system will allow credit unions of all asset sizes to access and manage loan participations offered by other institutions. ACIG created the product last year when it structured an $80 million loan-participation transaction between Security Service FCU (SSFCU), San Antonio, and three purchasing credit unions. Lewis Cohen, vice president of finance at American Airlines FCU in Dallas--one of the purchasing credit unions--said the transaction was simple and provided the credit union access to SSFCU’s portfolio. SSFCU is a premier auto-lending credit union, Cohen added. The Denver-based ACIG specializes in creating secondary-market opportunities for credit unions and other middle-market financial institutions.