Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

Products Archive

Products

League InfoSight, CU Solutions Group To Develop Web Compliance Tool

 Permanent link
LIVONIA, Mich. (9/27/13)--League InfoSight, a multi-league owned-compliance resource for credit unions, has teamed with CU Solutions Group to develop a Web-based credit union compliance and management solution.

CU Solutions Group, owned by more than 100 investors made up of leagues, credit unions and organizations, is a CUNA Strategic Services provider.

ComplySight will launch in spring 2014 and will streamline the lengthy compliance process for credit unions nationwide with a series of interactive software tools, League InfoSight said.

"The strength and success of our products are founded in league-CUNA collaboration," explained Patrick La Pine, League InfoSight chairman.

"ComplySight will offer the most comprehensive compliance solution designed by credit union league experts to meet specific credit union needs."

Using ComplySight, credit unions will be able to:
  • Review regulations and laws to assess the level of compliance from one central site;
  • Manage regulatory requirements and the associated internal organizational communications;
  • Assign and track the activities needed to achieve or maintain compliance;
  • Push regulatory alerts and updates interactively to all credit unions; and
  • Complement and access other League InfoSight products, such as InfoSight and CU Policy Pro, to provide a solution for regulatory requirements.

Supervisory Committee Webinar Series Offered

 Permanent link
NEW YORK (9/26/13)--The National Federation of Community Development Credit Unions' free Supervisory Committee Training Webinar Series is now offered in East and West Coast time zones.
 
The series includes a session on the Bank Secrecy Act (BSA) designed for Supervisory Committee members.  The session will cover the key areas of the BSA and the committee's responsibilities related to it. Also discussed will be the ways the committee can perform, document and report BSA transaction testing.
 
The federation, Mountain West Credit Union Association, CUNA Mutual Group and the National Credit Union Administration (NCUA) are collaborating to provide committee members with a greater understanding of the NCUA's Supervisory Committee Guide and ways to better detect suspicious or non-compliant activity. Registration for the four webinars in the series is free.

For more information, use the link.

Special Rates For CUNA Members Attending BAI Retail Delivery 2013

 Permanent link
MADISON, Wis. (9/26/13)--Members of the Credit Union National Association will receive discounted rates when they register for BAI Retail Delivery 2013 by Nov. 1, said CUNA.
 
Two registration options are available.
 
The all-access registration pass provides unlimited access to the entire event for $1,395--a savings of $300 off the BAI Enterprise member rate. Use promo code P42.
 
The summit registration pass provides access to all general sessions and the exhibit hall, plus all sessions within a single summit of choice: Sales Effectiveness, Technology and Operations, Channel and Distribution Strategy Summit, Marketing and Product Management or Community-Based Banking for $845. Use promo code T52.
 
CUNA-members credit unions can also register for any pre-conference workshop and pay the BAI member price of $295, CUNA said.

Dealertrack To Acquire VINtek

 Permanent link
LAKE SUCCESS, N.Y. (9/25/13)--Dealertrack will acquire VINtek, a provider of automotive collateral management, electronic lien and title and consumer automotive finance processing services, under an agreement announced Monday.
 
Total consideration for the transaction is expected to be roughly $53.4 million in cash, subject to standard purchase price adjustments, said the companies in a press release.
 
The transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions.
 
Philadelphia-based VINtek serves more than 3,000 credit unions, banks and automotive finance companies in the U.S. Services offered by the company include electronic vehicle title, tag and tax processing services, and eSignature/eContracting solutions supporting the online closing of automotive loans.

Symitar Offers Programming Staffing Service

 Permanent link
MURRIETA, Calif. (9/24/13)--Symitar, a core technology provider, is offering a new staffing service that provides Symitar Episys programmers to its clients.
 
CUTEK Staffing Services made its debut at the Symitar Educational Conference and Technology Expo in San Diego, Sept. 9-12.
 
"Working with our Symitar credit union clients over the years and providing them with thousands of Episys consulting hours, I soon discovered that there was a need to help these credit unions find qualified Episys talent and use it effectively and efficiently," Ron Murray, CUTEK president. "We can use our more than two decades of Episys programming experience to help these credit unions find qualified programmers that will fit their organization and mentor them so that they provide their credit union with top-notch work.
 
CUTEK Staffing Services offers permanent staffing and training services. The two-pronged approach reduces a credit union's hire risk through selective hiring and management of all employer responsibilities.
 
Credit unions can "time share" programmers, which is cheaper than the typical consultant programmer arrangement, Symitar said.  Credit unions are spared the responsibility of hiring and managing employees, ongoing training, handling taxes and benefits and furnishing equipment and office space. 
 
The service also helps write Episys-specific ads, reviews resumes, and participates in interviews of candidates. Credit unions can hire on a contract-to-permanent basis.
 
Once an individual is identified, CUTEK Staffing trains, certifies, provides progress reports and makes recommendations to turn a contracted Episys employee to a permanent hire.

'CU Centric' Mobile Wallet Firm Launched

 Permanent link
LOS ANGELES (9/23/13)--Online banking pioneer Paul Fiore and credit union veteran Kirk Drake are joining with credit unions nationwide in launching CU Wallet, a credit union-centric mobile payments/mobile wallet initiative.
 
A conference call announcing the launch will be held at 10 a.m. ET today. Fiore will be joined by CU Wallet member Paul Parrish, chief financial officer of One Nevada CU, Las Vegas, to give details about the company and answer questions.
 
Fiore, who co-founded the online banking company Digital Insight in 1990s, will serve as CEO of CU Wallet.
 
Drake is founder and CEO of Ongoing Operations LLC, a credit union service organization that provides business continuity and technology solutions. Ongoing Operations is a CUNA Strategic Services provider. He is cited as an adviser to CU Wallet on the firm's website.
 
CU wallet will combine technology with direct credit union ownership, for a mobile payments infrastructure designed for credit unions by credit unions, said the company.

Five Join Card Services For CUs Advisory Committee

 Permanent link
TAMPA, Fla. (9/20/13)--Five new members have joined Card Services for Credit Unions' Advisory Committee.
 
The committee's new members are:
  • Cheryl Collier, vice president, operations, SEFCU, Albany, NY;
  • Paul Emanuels, vice president, lending for Valley First CU, Modesto, Calif.;
  • Suzanne Hodgins, assistant vice president, finance, University of Virginia Community CU, Charlottesville, Va.
  • Joel Swanson, manager, electronic services, Alaska USA FCU; Anchorage, Alaska; and
  • Lee Thorsness, credit card product manager, University FCU, Austin, Texas.
CSCU's Advisory Committee comprises of credit union executives with credit or debit card responsibilities at their organizations. Working with CSCU staff, the committee meets monthly to discuss and prioritize new products and services, marketing strategies, system enhancements and quality initiatives that benefit all CSCU members.

PULSE Upgrades Fraud Mitigation Service

 Permanent link
HOUSTON (9/19/13)--PULSE, a debit/ATM network, has implemented an upgrade to its DebitProtect Fraud Mitigation Service and introduced an optional fraud blocking service.
 
The new system allows transactions to be blocked in real time, helping the network's clients respond faster to suspected fraud.
 
Financial institutions consistently rank debit card fraud among their top two concerns, said the annual Debit Issuer Study, commissioned by PULSE. One out of every five debit cardholders in the U.S. has experienced fraud on a card in the last five years, according to a 2012 study by ACI Payment Systems and Aite Group. The Federal Reserve Board estimated U.S. debit card fraud losses to be $1.38 billion in 2011.
 
The DebitProtect fraud mitigation system was first launched across the PULSE network in 2007. Since that time, the network has continued to refine DebitProtect and invest in state-of-the-art processing technologies. The company also added personnel to provide custom fraud consulting services to help financial institutions reduce the risk of fraud losses.
 
PULSE collaborated with Hewlett-Packard and Retail Decisions on the DebitProtect upgrade. It deployed Retail Decision's PRISM software on HP NonStop servers.
 
DebitProtect operates in milliseconds, evaluating transactions in flight, detecting high-risk transactions and alerting card issuers in seconds, often before the cardholder has left the terminal.

Malauzai Adds PFM Functionality To iPad SmartApp

 Permanent link
AUSTIN, Texas (9/18/13)--Malauzai Software Inc., a provider of mobile banking SmartApps for community financial institutions, including credit unions, has added personal finance management (PFM) functionality to its banking iPad SmartApp.
 
The addition, called Better Mobile, gives users access to basic PFM features that are most used by consumers. The Future Cash Calendar displays money movement on a visual calendar and calculates what the balance will be on each date. Transaction history is shown in cash flows as a simplified bar chart indicating "money in" and "money out," providing a visualization of how money is used during a given period. Scratch Pad notes paper checks and other transactions not yet withdrawn and accounts for them in the balance.
 
Malauzai launched the first phase of its iPad SmartApp in March and said it saw significant interest among its credit union and community bank clients. The company reported in its July Monkey Insights mobile banking usage data report that iPad users spend 50% more time on mobile banking than those using smartphones. This makes the platform ideal for more in depth banking functionality such as PFM, the company said. 

Seven CUs Among Fiserv's DNA Signings

 Permanent link
BROOKFIELD, Wis. (9/17/13)--Twelve financial institutions, including seven credit unions, have selected Fiserv's DNA core banking platform during 2013, following Fiserv's acquisition of Open Solutions in January.
 
The credit unions include:
  • Wildfire CU, Saginaw, Mich.
  • Randolph-Brooks FCU, Live Oak, Texas;
  • Evansville (Ind.) Teachers FCU;
  • Greater Nevada CU, Carson City, Nev.;
  • MIDFLORIDA CU, Lakeland, Fla.;
  • Navigant CU, Smithfield, R.I.; and
  • Vermont FCU, Burlington, Vt.
DNA is an open, person-centric core banking platform built for global collaboration. The platform provides 24/7 real-time processing and is supported by an extendable relational-data model designed around individuals and relationships. As a result, the credit unions' staffs can securely view complete profiles of retail and commercial members and customers by person, product or account, Fiserv said.
 
DNA's service-oriented architecture and Web services application programming interface allows financial institutions to add solutions from Fiserv and third-parties. DNA users also have access to the DNAcreator development toolkit, which allows information professionals to create and sell custom core extensions called DNAapps to other financial institutions via the DNAappstore.

Harland Clarke Offers Account Acquisition Product

 Permanent link
SAN ANTONIO (9/16/13)--Harland Clarke has introduced the First Touch New Mover Acquisition Program to help financial institutions acquire new accounts. Developed by Harland Clarke Marketing Services, First Touch helps a credit union or bank be the first to deliver a targeted offer to a new mover's mailbox.
 
Harland Clarke is a CUNA Strategic Services provider.
 
"According to the U.S. Census Bureau, roughly 12% of the U.S. population changes their addresses each year. That's an average of 130,000 people moving every day," said Jeff Dishon, Harland Clarke senior vice president and general manager, marketing services. "These moves are opportunities for financial institutions to acquire new movers as account holders, at a 35% lower cost than acquiring other prospects."
 
First Touch New Mover accesses a multi-source database that is consolidated daily. Enhanced analytics identify new mover households while Harland Clarke's creative team designs marketing communications to encourage responses. Overnight production and next-day mailing support the rapid delivery of clients' messages to targeted consumers. Credit union and banks can also track campaign progress with built-in reporting mechanisms that include monthly return-on-investment analysis.

CUNA Announces New Interactive Salary Research, Strategy Tool

 Permanent link
MADISON, Wis. (9/16/13)--The Credit Union National Association has released a new, interactive compensation tool, CUNA Compensation Analytics, to augment the hiring and staffing strategy of credit unions across the movement. It provides information and resources just in time to help credit unions set their 2014 budgets.
 
"CUNA Compensation Analytics represents a breakthrough in giving hiring managers the tools they need at their fingertips for budgeting and hiring decisions," said Jon Haller, CUNA's director of Corporate and Market Research.
 
"We want to give them the flexibility to create customized reports on the data that matter most to them. Every credit union has different needs, and this new tool has the flexibility to dial in to very specific compensation details," Haller added.
 
"CUNA Compensation Analytics is a cloud-based, interactive tool that allows subscribers to research and set competitive salary packages for their staff and executive teams," said Beth Soltis, CUNA senior research analyst. "The data behind the tool come from our annual Staff Salary Survey, which is compiled from nearly 1,300 credit unions for 100 job titles--that's more credit union-specific data than the next two major salary studies combined."
 
Subscribers to CUNA Compensation Analytics will be able to:
  • Access the data from the CUNA Staff Salary Report;
  • Compare salary information for multiple positions across multiple states;
  • Analyze salary data in both graphical and tabular formats;
  • Easily export tables and charts for use in management presentations; and
  • Improve decision-making with customizable, interactive report criteria.
Data available in the analytics tool include salary incentives and bonuses, total cash compensation, variable pay and compensation percentiles, salary ranges by location, and map views of data for specific criteria.
 
Data will be updated each July, keeping subscribers ahead of the curve for upcoming year staffing plans and salary budgets, said CUNA. The tool is available 24/7 throughout the year so subscribers can access the data for staffing, hiring and compensation decisions.
 
For more information, use the link, e-mail mktresearch@cuna.com or call 800-356-9655, ext. 4172.

Melrose First N.Y. CU To Launch CO-OP NextGen ATM

 Permanent link
ALBANY, N.Y. (9/16/13)--Covera and Universal Sharing Network recently helped Melrose CU become the first New York credit union to launch a CO-OP NextGen ATM.
 
Melrose CU, a Covera client and member of the UsNet shared branching network, is using the new software solution to support both traditional ATM transactions and shared-branching transactions on its mainline ATMs.
 
 Members of Melrose can now complete all routine teller transactions at the credit union's ATMs, while members of other credit unions within the UsNet/CO-OP Shared Branch network can use the credit union's ATMs to complete common shared-branching transactions.
 
 "This technology allows Melrose and Shared Branch members to conduct teller transactions 24/7, thus alleviating the stress caused by long lines in the teller window queuing area of our lobby," said Robert Nemeroff, Melrose CU's director of marketing/public affairs.
 
 "In addition, it offers users the ability to use ATM technology without the need of an ATM or debit card," he said. "Any card with a mag stripe that contains the user's exact information as it appears on the credit union account is the basic requirement, so indirectly, the machines minimize the potential for lost cards by reducing the amount of cards people need to carry around."
 
Melrose CU's adoption of CO-OP NextGen ATM was made possible through Covera and UsNet's partnerships with CO-OP Financial Services.
 
 The solution also enhances credit unions' shared-branching operations. "Because CO-OP NextGen ATM migrates routine teller transactions--including shared branching transactions--into the ATM channel, credit unions can maximize branch efficiencies," noted Marc Inger, chief operating officer of UsNet. "This solution also helps credit unions differentiate from big banks by expanding the unique benefits of shared branching."
 
Credit unions must be members of both the CO-OP ATM network and the CO-OP Shared Branch network to access CO-OP NextGen ATM.

Agility Hosts Preparedness Webinar Series

 Permanent link
MADISON, Wis. (9/13/13)--Humberto, now a Category 1 hurricane in the Atlantic Ocean with winds near 75 miles per hour, has become the first hurricane of the season, according to the National Hurricane Center. To help credit unions prepare for such storms, and in recognition of National Preparedness Month, Agility Recovery is featuring a series of webinars.
 
The next webinar in the series, "The NEW 10 Steps to Preparedness: Lessons From the Past," will be held at 2 p.m. ET on Tuesday.
 
Bob Boyd, president/CEO of Agility Recovery, will lead participants through the 10 steps of preparedness:
  • Assess your risk;
  • Analyze your critical business functions;
  • Prepare your supply chain;
  • Back up your data;
  • Create an emergency management plan;
  • Create a crisis communications plan;
  • Assemble emergency supplies;
  • Plan for an alternate location;
  • Review your insurance coverage; and
  • Test your plan.
 The final webinar in the series, "Crisis Communications For Any Organization," will be held at 2 p.m. ET, Sept. 25.
 
Agility Recovery also has prepared a free Crisis Communications Planning Checklist for Credit Unions that is available to download from its website. To access the checklist, use the link.

CUNA Mutual Group's TruStage Program Reaches 14 Million Insured

 Permanent link
MADISON, Wis. (9/13/13)--CUNA Mutual Group's TruStage insurance program celebrated a significant milestone Monday, when the number of credit union members protected by a TruStage product or program surpassed 14 million.
 
Click to view larger image CUNA Mutual Group this week celebrated its TruStage insurance program reaching 14 million credit union members protected. From left, Bob Trunzo, president, CUNA Mutual Group Insurance and Financial Services; Page Danley, contact center sales representative, who sold the 14 millionth policy; and Susan Sachatello, senior vice president, direct to consumer. (Photo provided by CUNA Mutual Group)
TruStage insurance products and programs include life, auto, homeowners, and accidental death and dismemberment insurance, which are made available to credit union members through CUNA Mutual Group's MemberCONNECT Program.
 
CUNA Mutual Group staff at the company's Madison, Wis., and Waverly, Iowa, locations paused to commemorate TruStage insurance hitting the 14 million member mark.
 
While protecting 14 million individuals is notable, the opportunity to protect more credit union members is significant, said Susan Sachatello, senior vice president of CUNA Mutual Group's Direct to Consumer division.
 
A 2011 LIMRA study, "Trillion Dollar Baby Growing Up," reported 58 million households are underinsured. Three in 10 households have no life insurance, and 40% of households with children could not meet everyday living expenses if they lost one parent.
 
"We consider protecting members and their families as more than our business; we consider it our obligation to the credit union movement," Sachatello said. The milestone is also a reminder to us "that we must continue our efforts to protect even more members," she said.
 
The milestone coincides with Life Insurance Awareness Month, a celebration led each September by the Life Insurance Foundation for Education to inform consumers about the importance of life insurance.
 
CUNA Mutual Group is helping credit unions engage and educate members during Life Insurance Awareness Month by providing credit unions participating in the MemberCONNECT Program an array of educational tools and materials, including a Facebook promotion.
 
In August, the MemberCONNECT Program celebrated its 30th anniversary. More than 4,000 credit unions participate in the program, which paid more than $727 million in member benefits in 2012 and produced $66 million in non-interest income for credit unions.
 
CUNA Mutual Group said it will invest more than $200 million in marketing efforts and new initiatives during the next three years to enhance and expand the program, Sachatello added. "The focus of TruStage is to put the member at the center of our business," she said. "By building a compelling and seamless member experience, we are enhancing the relationship between credit unions and their members, thus strengthening the partnership between CUNA Mutual Group and credit unions."

DigitalMailer Introduces Online Tutor For My Virtual StrongBox

 Permanent link
HERNDON, Va. (9/12/13)--DigitalMailer's My Virtual StrongBox now features an online tutor enhancement that gives an overview of how the online storage device works.
 
Digital Mailer launched the Education Wizard this week at the FinovateFall2013 Conference in New York.
 
The Education Wizard also includes an individual profile feature that suggests types of information to store based on completed responses. My Virtual StrongBox also has added a rewards feature so allows users can earn discounts on additional storage space.
 
"We live in an increasingly data-filled world, so having a way for consumers to keep their personal documents and other important papers safe but quickly available is a big benefit," said Ron Daly, DigitalMailer president/CEO. "The new wizard user interface will lead consumers through steps to learn how to take full advantage of My Virtual StrongBox."
 
Once users log in, a video with two animated characters introduces the service and explains its features. After answering some general questions, My Virtual StrongBox creates a profile, which is used to make suggestions about types of information to store. The wizard also includes opportunities to earn "keys" that will unlock discount codes for additional storage.
 
The My Virtual StrongBox software safeguards wills, birth certificates, insurance and tax documents, family photographs and other papers by loading them into protected, online document libraries.

Board Evaluation Tools Available From CUNA, The Paragon Group

 Permanent link
MADISON, Wis. (9/12/13)--A new series of board effectiveness tools are available through the Credit Union National Association's partnership with The Paragon Group.
 
The Paragon Group, based in Olympia, Wash., provides board effectiveness evaluations that allow directors to regularly review board performance and make changes while keeping essential traditions alive.
 
"Credit unions are a great fit for the Paragon attitude toward effective board performance," said Kevin Smith, CUNA director of learning events. "Credit union boards need members capable of strategic decision-making, who can ask questions and incite change, all while upholding traditional credit union ideals."
 
The assessment tools include:
  • Board competencies. Board members identify the competencies needed, assess the current level of skills and identify areas that need strengthening.
  • Board effectiveness. Board members evaluate the performance of the board of directors to identify strengths and areas of improvement.
  • Personal contributions.  Individuals evaluate their contribution to the credit union board to develop professional development plans.
  • Peer evaluations. Board members evaluate the performance of their peers to ensure high performance standards and establish performance criteria for renomination.

Mitek Introduces Mobile Photo Account Opening

 Permanent link
SAN DIEGO and NEW YORK (9/11/13)--Mitek, a mobile imaging software provider, introduced a mobile photo account opening product Tuesday.
 
Consumers and credit union employees can now capture a picture of the front and the back of a driver's license and the validated data is automatically populated into the account opening application. Mobile Photo Account Opening integrates with credit unions' and banks' existing account origination, identity proofing, and fraud prevention providers like Experian so it facilitates existing processes.
 
"We believe Mobile Photo Account Opening will have a profound impact on net profits by enabling acquisition of the sought-after digital natives and mobile-first consumers while moving them to a lower cost self-service channel," said Mitek President/CEO James DeBello. "It is also a great tool for getting employees out from behind a desk and streamlining account opening in the branch and in the community on a tablet, making account opening a faster, more friendly and engaging process."
 
"The fact that 88.5 million Americans attempted to open an account online or with a mobile device in the past 12 months underscores how far digital account opening has come in a few short years," said the Javelin Research & Strategy report, How to Upgrade Online and Mobile Account Opening for an Omnichannel Era. "Nonetheless, its potential remains largely untapped, especially as consumers place growing importance on mobile capabilities." 
 
In the same report the firm also noted, "The No. 1 job for financial institutions should be to enable applicants to open and fund an account in one session."
 
Mobile Photo Account Opening will debut at the Finovate conference in New York today.

CUDL Announces Dealer Management System Integration

 Permanent link
ONTARIO, Calif. (9/10/13)--CUDL, which administers an auto lending network for credit unions, has completed dealer management system (DMS) integration of its lending system with Open Dealer Exchange (ODE), along with its parent companies,' ADP and Reynolds and Reynolds, Dealership Management Systems. CUDL network is comprised of more than 1,000 credit unions and 10,000 auto dealers.
 
As a result of the integration, CUDL offers direct credit application integration for ADP and Reynolds & Reynolds users from the dealer's DMS directly to the CUDL lending system. With the direct connection from Open Dealer Exchange, CUDL says it has improved processing efficiencies for their credit union partners and members.
 
"The success of any new dealer-facing solution is measured by those whom are intended to use it: the dealers," said Steve Luyckx; Open Dealer Exchange general manager. "The ODE-CUDL relationship is delivering workflow solutions that enable efficiencies to many lenders who in turn service many more dealers."
 
The integration between CUDL and ODE provides dealers with the ability to send application data to CUDL from their DMS, and be able to send application data from CUDL back to their DMS. As a result, the marketplace now has a solution that provides two-way integration capabilities, eliminating double entry of application data, and further streamlining the entire application process for both dealers and credit unions using the CUDL system.

MnIPC Acquires ProDraft Services

 Permanent link
ST. PAUL, Minn. (9/9/13)--MnIPC, a wholly-owned subsidiary of the Minnesota Credit Union Network, has completed the purchase of ProDraft Services LLC, a North Dakota-based credit union service organization (CUSO) that provides correspondent and electronic fund transfer processing solutions.
 
Based in St. Paul, Minn., and serving clients nationwide, MnIPC is an independent item processor serving credit unions for more than 30 years.
 
Together, the combined companies will move forward under the MnIPC name.
 
The merging of two companies creates additional strength for MnIPC clients and offers a continuation of the services offered by ProDraft, with the benefits of enhanced technology, greater efficiencies and increased financial stability, MnIPC said. In addition, the merger allows MnIPC to offer expanded products and services to its clients and be well-positioned for future growth opportunities.
 
The purchase of ProDraft expands MnIPC's footprint into neighboring North Dakota, which complements its nationwide expansion that began several years ago. Earlier this year, MnIPC announced a cooperative effort with CUsource in Montana, adding CUSOs to its client list and enabling the company to showcase its quality of service on a national level.
 
The acquisition of ProDraft allows MnIPC to increase volume, pricing power and overall efficiencies.

CUAnswers Expands Beta Test For New User Interface

 Permanent link
GRAND RAPIDS, Mich. (9/6/13)--CU*Answers, a Grand Rapids, Mich.-based credit union service organization (CUSO), has expanded beta testing for the new user interface of the CU*BASE® GOLD core data processing platform
 
"Market acceptance verification is as important as testing specific functionality, and a large-scale beta test like this will give us some real insight into how these changes will benefit real users in the field," said Randy Karnes, CU*Answers CEO.
 
Beta testing will soon include nearly 30 credit unions across the cuasterisk.com network. Board member credit unions from CU*Answers, Xtend, and CU*NorthWest will be participating in the test phase, which will put the new user interface onto all workstations across the credit union branches for comprehensive testing. Several other credit unions have also volunteered to be part of the beta group.
 
In anticipation of the official launch of the software in February, the CUSO has developed online video demos, and the invitation for other credit unions to join the beta test is open to all network members.

Card Services For CUs Partners With Monitise

 Permanent link
SAN RAFAEL, Calif. (9/5/13)--Monitise, a provider of mobile money solutions, announced a partnership with Card Services for Credit Unions (CSCU) that will allow CSCU to offer Monitise's mobile banking solution to its more than 2,600 member credit unions.
 
With the new partnership, CSCU further expands its mobile banking solutions portfolio to include Monitise's Bank Anywhere solution.
 
"CSCU is committed to providing our credit unions with the leading tools and services that their members need, and that includes offering world-class, 'next generation'mobile banking solutions," said Robert Hackney, CSCU president. "The Monitise solution will empower our credit unions to benefit from high levels of engagement in order to maintain member loyalty, acquire new members, grow revenue and combat the growing threat of disintermediation."
 
More than 350 financial institutions and over 23 million consumers worldwide currently leverage the Monitise solution and its suite of Bank Anywhere, Pay Anyone and Buy Anything products.

CU Direct Signs Nine CUs

 Permanent link
ONTARIO, Calif. (9/4/13)--CU Direct Corp., a credit union service organization (CUSO) that specializes in lending service, announced new partnership agreements with nine credit unions.
 
As a result of the agreements, the credit unions will be incorporating products from CU Direct's suite of auto lending solutions to drive loan growth, business efficiency and improved member satisfaction. More than 1,050 credit unions nationwide, serving 34 million members, are use the CUSO's lending solutions.
 
New partner credit unions include:
  • DFCU Financial, Dearborn, Mich.;
  • Mid Florida CU, Lakeland, Fla.;
  • Royal CU, Eau Claire, Wis.;
  • Campus USA CU, Jonesville, Fla;
  • Jeanne D'Arc CU, Lowell, Mass.;
  • APG FCU, Edgewood, Md.;
  • NMTW Community CU, Lowell, Mass.;
  • MAPS CU, Salem, Ore.; and
  • People's CU, Middletown, R.I.
CU Direct partner credit unions collectively have experienced 16% auto loan growth in 2013, the company said.

PSCU Introduces Remote Deposit Capture

 Permanent link
ST. PETERSBURG, Fla. (9/3/13)--PSCU, a St. Petersburg, Fla.-based credit union service organization, has released a remote deposit capture (RDC) solution to its nearly 700 member-owner credit unions.
 
The credit unions will be able to integrate the RDC solution in their existing electronic banking and mobile banking platforms, or deploy it as a separate stand-alone application in the member's mobile device, PSCU said.
 
"Remote deposit capture gives our member-owners a digital technology tool to engage members at one of the most important transaction points in the relationship--the deposit," said Fredda McDonald, PSCU executive vice president, credit union experience.
 
The RDC solution allows PSCU to offer its credit unions a suite of check capture and deposit services to fit virtually any online or mobile banking configuration, the company said. The solution also will support an interface to members' home or office flatbed scanners.
 
RDC provides credit unions that have small branch networks and a geographically dispersed membership with a convenient deposit channel for their members rather than relying on ATMs or mail-in deposits.

CUNA Offers Free Regulatory, Compliance Audio Conference

 Permanent link
MADISON, Wis. (9/3/13)--The Credit Union National Association will offer its 2013 Pressing Regulatory and Compliance Issues Audio Conferences at no cost to affiliated credit unions.
 
The audio conferences will provide an overview of today's most pressing regulatory and compliance hot topics.
 
Also, key issues discussed in the audio conference will be scheduled in a follow-up webinar that will go into more detail.
 
This session will cover the latest in federal litigation challenging the Federal Reserve Board's debit interchange regulation, as well as:
 
CFPB Mortgage Lending Regulation:
  • Ability-to-repay, effective Jan. 10;
  • Mortgage servicing;
  • Remittance transfer regulation, effective Oct. 28; and
  • Appraisals.
NCUA issues: 
  • Loan participations final rule, effective Sept. 23;
  • Derivatives proposal; and
  • Richard Metsger, the newest NCUA board member.
The audio conference is beneficial to credit union compliance professionals, league compliance professionals, management, directors/volunteers and anyone interested in the individual topics. Affiliation with CUNA or a state credit union league is required for attendance.