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CU System briefs (09/16/2011)
* NEW YORK (9/19/11)--The National Federation of Community Development Credit Unions (CDCUs) is expected today to announce the launch of a credit union program that offers small, non-predatory loans with a savings component to counter predatory lending. The federation will work with local CDCUs, which serve predominantly low- and moderate-income residents across New York City … * UPPER MARLBOROUGH, Md. (9/19/11)--Members with direct deposit accounts will have access to their paychecks a day earlier at NASA FCU, which Thursday launched EarlyAccess Payroll as part of its new Premier Checking Line. The move means paychecks that are direct deposited into NASA FCU will be available for access to direct deposits or automated clearinghouse (ACH) transfers one day sooner than usual. For some members, such as NASA employees, money from direct deposits could be available up to two days in advance, said the credit union. Exceptions could be during holidays, weekends or if there is a change in employer payroll processes; members then would get access to funds on regularly scheduled paydays … * WASHINGTON (9/19/11)--CU Direct Corp., parent for the CUDL, Lending Insights and the new Lending 360 and CUDL Retail brands, announced that Madison, Wis.-based Summit CU and Riverdale, Utah-based America First CU were awarded its 2011 Diamond Awards during the credit union service organization's Lending Redefined Conference held in Arlington, Va., last week. The awards recognized the credit unions for their excellence in lending practices and overall success in 2010. Summit increased its funded auto loans by 54% from June 2010 to June 2011, with 42% of funded loans year-to-date going to existing members. American First increased its look to book ratio by nearly 40% and ranked second in funded loans on the CUDL lending platform … * WARMINSTER, Pa. (9/19/11)--More than 1,076 members of Warminster, Pa.-based Freedom CU signed up for paperless statements during the credit union's Paperless Statement Sweepstakes during August. Fifty members won $50 gas cards in the sweepstakes. The signups brought the total of members on paperless statements to 10,775. Freedom CU said paperless statements reduce clutter and member concern about lost or stolen statements, help the credit union to cut costs so it can provide better services and rates, and allow members to get their statements sooner through e-mail … * PHOENIX (9/19/11)--Phoenix-based Arizona State CU donated more than 2,000 cases--or 20 tons--of water to the Phoenix Rescue Mission just in time for August temperatures, which spiked at 117 degrees, the hottest temperature recorded there in August since 2001. The mission distributes 4,000 bottles of water a week to the homeless, said the credit union. Its donation will provide water for roughly three months. This year's water drive, a competition between the credit union's headquarters and branches, resulted in a 35% increase in donations from the 2008 water drive, said President/CEO David E. Doss. Arizona State CU has $1.3 billion in assets and more than 128,000 members …


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