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Communitymarket development topic of groups second white paper

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MADISON, Wis. (8/12/10)--The Credit Union National Association’s (CUNA) Community Credit Union Committee has released the second of four white papers titled, “Best Practices in Community and Market Development.” The paper offers insight on how credit unions can position themselves as leaders in the financial industry and community. The paper is written to serve as a playbook for credit unions striving to be a source in rebuilding the financial lives of American families through supporting, educating and empowering their local communities. It contains rules credit unions can follow to strengthen their community and marketing development. “Credit unions cannot simply be reactive or rely on past practices for their community and market development strategies,” the paper said. “Instead, credit union executives must integrate how they will reach out to the community and innovate how they grow the member base directly into their strategic plans.” CUNA also will host the Community Credit Union and Growth Conference Oct. 6-9 in Boston. Community Credit Union Best Practices and Best Practices in Community Credit Union Performance are two sessions that will be offered. For more information, use the links.

Granite Starr launched to help CUs banks restore trust

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HOUSTON (8/12/10)--A team of financial industry professionals has launched Granite Starr, to help credit unions and local banks develop more personal connections with consumers. Credit unions and community banks will be the “financial institutions of choice in the coming decades,” said Joe Gillen, company co-founder. Granite Starr will have a collaborative approach to support and strengthen the advantages local institutions offer over megabanks, he said. Granite Starr is based in Houston, with Gillen as chairman and Mark Collins as president/CEO. Both have worked with more than 1,000 credit unions and community banks to help them grow market share and enhance service. Community banks and credit unions “have a vested interest in the overall well-being and prosperity of their local cities and towns, and a tangible desire to see that their customers and members succeed,” Gillen said. “Granite Starr will collaborate with local banks and credit unions to enhance that commitment and build long-term relationships that benefit both the institutions and the communities they serve.”

CUAnswers expands to W. Va. offers new reg tools

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GRAND RAPIDS, Mich. (8/12/10)--CU*Answers announced that it will provide core processing services for its first credit union in West Virginia, WV United FCU, Charleston. The credit union service organization also announced several new regulatory tools. The $29-million-asset WV United FCU will upgrade to the CU*BASE core data processing system during the fourth quarter. CU*Answers is based in Grand Rapids, Mich. CU*Answers’ new tools include:
* A fee analysis by Opt In/Out status feature for CU*BASE. The tool provides an analysis of the potential impact on fee income of Regulation E, which involves overdraft protection. The tool will show members who have opted in or out who also generated fee activity from January to June; and * The capability for credit union members to select their opt in/out status on It’s Me 247 online banking. The new page allows members to select their overdraft protection options.
CU*BASE also noted a core processing software upgrade. CU*Answers implemented statement changes in accordance with Regulation Z, or Truth in Lending, and added opt in/out features for Regulation E, the company said.