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Products and Services briefs (11/11/2009)
* WASHINGTON (11/12/09)--Credit unions saw a 1.8% membership growth in the past year--the highest rate in five years--according to statistics of a recent credit union industry report. The report, the Callahan & Associates 2010 Credit Union Directory, also found that one in five auto loans was originated by credit unions; credit unions more than doubled their share of first mortgages, capturing 5.2% of the market; and credit union member business loans posted the fastest year-over-year growth rate among loan categories. Callahan is a Washington, D.C.-based firm focused on credit union issues ... * WASHINGTON (11/12/09)--S1 Corp., a provider of global financial services and payments software solutions, announced that Computer Services Inc. (CSI) has chosen S1 to replace its payment system. S1 will offer CSI an open-systems payments solution that supports card management and ATM driving. The solution will manage online connections to ATMs, networks, card associations, host and settlement systems; provide sophisticated monitoring of real-time management information; provide a browser-based portal from which CSI can configure services for their issuers; and offer a bridge approach to enable a phased migration from their current environment. S1 provides solutions for credit unions, banks, retailers and processors. CSI delivers banking, payment processing, Internet, card services and other solutions to the financial services industry ... * BOSTON (11/12/09)--Open Solutions announced a reseller agreement with uMonitor to sell uMonitor’s switch kit solutions to financial institutions. Open Solutions will resell all thre deployment options for uOpen and uFund; the Go-to-Market Solution; the Plus Solution; and the Total Solution. Other offerings include uTransfer, uView and uSwitch. uMonitor and Open Solutions offer banking solutions to the financial services industry, including credit unions ... * TALLAHASSEE, Fla. (11/12/09)--Fifty credit unions have joined Credit Union 24, a credit union-owned ATM and point-of-sale network. The addition breaks previous records of new shareholders joining the network in a single stock offering. Credit Union 24 is owned by 286 credit unions serving more than 8.7 million members and totaling $68.8 billion in assets ... * LINDEN, N.J. (11/12/09)--Integrated Media Management (IMM) reported a 48.7% hike in the value of orders it received in the third quarter compared with third quarter 2008. The increase resulted from IMM’s 25 customer contracts during the quarter--a 19% jump from last year. Twelve of the 25 contracts came from new customers. Several contracts enlisted IMM for multiple offerings, which resulted in 57 product orders--up 26% from last year ...


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