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CUNA council paper offers fin lit training

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MADISON, Wis. (7/6/11)--The CUNA HR/TD Council is offering a "Financial Literacy Training for Directors" white paper to assist credit union directors with new requirements from the National Credit Union Administration (NCUA). NCUA established a set of guidelines for federal credit union directors to ensure they have "a base level of financial skills, consistent with the size and complexity of the credit union operation they serve." The requirements under NCUA Regulation 701.4 took effect on Jan. 27. The council's white paper outlines the new regulation and how credit union human resources and training staff can help make sure directors are successfully meeting their duties. CUNA Council members are entitled to complimentary copies of the council's white papers. Non-members can purchase the papers for $50 per copy. The papers are available in the white paper section of www.cunacouncils.org by selecting the "HR/TD" tabs.

Calyx software PRMS team up on risk management

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DALLAS (7/6/11)--Calyx Software, a mortgage origination solution provider, and Precision Risk Management Systems (PRMS), a provider of risk management services for mortgage industry, have formed a strategic alliance. Calyx said an increasing number of its clients are making the move from “best efforts” to “mandatory” loan execution. The alliance with PRMS addresses the increased risk that transition creates for lenders, Calyx said. When moving to bulk warehouse lines, investors typically require the lender to work with a reputable risk management firm to get the line approved. Historically, Calyx was not able to address the risk management needs of its clients. The alignment with PRMS gives Calyx clients that option. Moving from best efforts to mandatory delivery allows mortgage banking operations to increase the earnings of their secondary marketing department without increasing loan volume. By using PRMS risk management solutions, lenders will have decision tools and support to maximize trades and profits. "Calyx has experienced rapid growth with mortgage banks and financial institutions that produce significant mortgage volume each month," Wade Brantley, national product sales director for Calyx Software said. “When these operations start producing more than $10 million-$15 million per month, they typically desire to move from selling best efforts to mandatory because the additional margins are significant. In PRMS, we found a vendor that does both extremely well."

TMG PayFusion announce new CEOs

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DES MOINES, Iowa (7/6/11)--Two Des Moines, Iowa-based companies that provide services for credit unions have announced new CEOs. The Members Group (TMG) announced that Shazia Manus will join TMG as CEO of the card processing and payments solution company. Manus most recently served as CEO the past six years of Greater Iowa CU, a $260 million asset credit union based in Ames, Iowa. She replaces former TMG CEO Tom Kuehl, who recently announced his retirement. Manus started her career with Greater Iowa in 1999. As CEO, she engineered a significant turn-around of the institution, achieving substantial profitability and membership growth. She also led a multi-million dollar business acquisition. In a separate announcement, PayFusion, a debit card consulting firm serving credit unions and community banks, announced it has hired Thomas "TJ" Riha as CEO. He formerly served as business development director of First Data, where he worked closely with financial institutions with more than $6 million in assets. Riha, who will be based in Omaha, helped clients optimize several payment product lines, including debit and credit card processing, plastic card embossing, and PIN debit networks. He joined First Data in 1999, and held a variety of positions, including debit project analyst. Both companies are owned by Affiliates Management Co., a wholly owned holding company of the Iowa Credit Union League that was formed to better integrate and align the league's operating companies.