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Citadel introduces AutoSmart

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THORNDALE, Pa. (8/27/08)--Citadel has introduced AutoSMART, its auto-buying website, where users can find a new or used vehicle. Car shoppers can compare vehicles, pricing and incentives on the website. They also can find the value of their current vehicle research articles, warranties, rebates and dealer incentives. In addition, they can be pre-approved for a Citadel vehicle loan on the site. The “Find It” tool provides Citadel’s Preferred Dealer list, where shoppers can build their own vehicle and check the inventory of local dealers. The “Finance It” tool provides Citadel’s current rates and a free credit report. Citadel provides banking, investment and insurance services to financial institutions nationwide. It is a credit union service organization of Citadel FCU, Thorndale, Pa.

Strategic goals ratios addressed in council white papers

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MADISON, Wis. (8/27/08)--Testing strategic financial goals and analyzing credit union financial ratios are the topics of two new white papers by the CUNA Chief Financial Officers (CFO) Council. “Testing a Strategic Financial Vision: Using a Simple Financial Planning Model” explains how to test a credit union’s strategic financial goals over an extended time. Using a simulation model that creates future balance sheets, income statements, and financial ratios, the paper focuses on capturing key financial aspects of the plan in a strategic financial vision. It also outlines key testing issues and includes an operating manual for the model. The second white paper, “Credit Union Financial Ratios: Twenty-Plus Years of Data and Analysis,” explains what can be garnered by analyzing financial ratios over 22 years. It examines the conclusions about financial changes, impacts of competition, changed regulation, and the basic safety, soundness, and competitiveness of the industry. A 22-year listing of more than 50 ratios is included in the appendix. For more information, use the links.

Metavante Connect Software announce alliance

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MILWAUKEE (8/27/08)--Metavante Corp. announced that it has partnered with Connect Software Solutions to provide an integrated online banking and bill pay product for credit unions that will be delivered by Connect. The product will allow credit union members to send payments to virtually all billers, the companies said in a release. Transaction growth rates and the number of members actively using bill pay doubled after a pilot program in 2006 and 2007. Connect is a Las Vegas-based credit union service organization. Metavante provides banking and payment technologies to financial institutions, including credit unions, and is headquartered in Milwaukee.

WesCorp tests biz continuity systems live

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SAN DIMAS, Calif. (8/27/08)--Western Corporate FCU (WesCorp) conducted a live exercise of its business continuity plan from its back-up facility in Temecula, Calif. last Friday. All its critical operating systems were run throughout the day from the corporate’s off-site business continuity center after being transferred from its San Dimas, Calif., location. “While most other large financial institutions conduct their continuity plans during the weekend, WesCorp prefers to do these strategic exercises during actual business hours,” said Fred Valentie, WesCorp vice president of operational integrity. Systems tested included WAVE, Member Center, wire transfers, item processing and investment services, and member-related call center activities. WesCorp’s San Dimas staff also traveled to the back-up site two hours away to provide continuity. WesCorp has more than $30 billion in assets.