ST. PETERSBURG, Fla., and IRONDALE, Ala. (9/29/11)--Alabama's Corporate America CU has partnered with Florida credit union service organization (CUSO) PSCU Financial Services to provide debit and credit card processing services to the corporate's member credit unions. Corporate America, a $3.3 billion asset corporate credit union based in Irondale, Ala., "reviewed several potential partners before" forming the alliance with the CUSO, said Thomas Bonds, president/CEO of Corporate America. "We believe PSCU Financial Services' commitment in providing superior financial products, unparalleled service and support to credit unions strengthens our goal of providing exception products and services to our membership," Bonds said. Michael Kelly, president/CEO, PSCU Financial Services, said the corporate's member credit unions "can leverage these payment channels to maximize member engagement and satisfaction. This partnership also expands our CUSO's ability to provide credit and debit card processing service and support for credit unions of all sizes." PSCU Financial Services, based in St. Petersburg, Fla., serves more than 1,500 financial institutions nationwide. It is owned by 640 member credit unions representing more than 16 million credit, debit, prepaid, online bill payment and electronic banking accounts.
PLANO, Texas (9/29/11)--An in-depth look at how the near-term economy will affect credit unions and the future of money are among the topics to be addressed at the Catalyst Corporate FCU’s 34th annual Economic Forum, Oct. 25-26 in Frisco, Texas. A trio of credit union-oriented economists will provide a forecast of economic conditions following the year-end national debt reduction efforts. Steve Rick, senior economist at the Credit Union National Association, and Tun Wai, chief economist at National Association of Federal Credit Unions, will join credit union economist Charles Idol during the two-day event. Credit union consultant and futurist Tim Lerew will also analyze technology trends that are changing the way consumers handle their money--and maybe even changing currency itself. Lerew will help credit unions peer over the horizon at new technologies that promise to transform how payments are made and processed. These technologies are critical to credit unions and other traditional banking institutions, because the payment franchise has long been the anchor that marries consumers to their primary financial institution, according to Lerew. “No one expected mobile banking to have the adoption rate that it is now experiencing. Tablets are the next frontier,” Lerew said. “What is your credit union’s role in the new world of electronic wallets, digital payments and changing consumer needs?” Credit unions have an opportunity to move to the front of the mobile payments curve--ahead of big banks, data aggregators such as Google, and cell phone carriers--with innovative product planning and packaging, Lerew said. “Credit unions have always been careful to offer fraud education and protection,” he said. “If credit unions could extend this to the mobile payments world, why wouldn’t your members continue a trusted relationship with you?”
MADISON, Wis. (9/29/11)--A new white paper from the CUNA Operations, Sales and Services Council examines how credit unions are delivering and managing e-services, and forecasts future e-service trends. The paper includes six case studies of credit unions with effective e-services solutions. The e-services offered at each credit union are dependent upon organization goals, said the council. Ideally, a credit union should develop an organization-wide strategic plan, with sub-plans at the functional level listing projects that align with organizational goals, the paper advised. The e-services plan, like the others, should support the credit union’s overall goals. Topics covered in the paper include:
* e-services currently offered by credit unions; * Strategic planning for, and management of, e-services; * Compliance and security considerations; * Balancing member needs with credit union efficiencies; and * Future e-services trends.