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CUTEK creates HTML safe deposit box for CU

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MURRIETA, Calif. (11/19/10)--Financial technology services provider and consultant CUTEK Inc. has collaborated with NASA FCU, a $1 billion asset institution in Upper Marlborough, Md., to create an HTML safe deposit box interface that allows members to securely access boxes online. NASA FCU approached CUTEK with the idea of providing members’ online access to their safety deposit boxes. The credit union designed the interface and CUTEK configured it to integrate with the credit union’s existing Symitar database. The interface reads the credit union’s inventory of safe deposit boxes and provides a list of both available and rented boxes. At the end of each day, the program automatically updates the inventory and provides a status update. CUTEK created five functions for the interface:
* rent a new box; * revise a box; * access a box (creates paper trail with ID, application); * print disclosure; and * surrender a box (includes prorated refund);

uMonitor virtual conference attendance up 72

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MEMPHIS, Tenn. (11/19/10)--In what may be an indication that the virtual conference is gaining some traction in the credit union industry, uMonitor’s recent second annual user conference saw a 72% increase in attendance from its inaugural year. More than 180 people and 25 credit unions took part in uShare, a two-day virtual event for users of uMonitor’s member acquisition and retention solutions. The event featured an interactive presentation from industry leaders and time for collaboration among conference participants. Keynote speakers included Louis Hernandez Jr., chairman and CEO of enterprise solution provider Open Solutions and author of “Too Small to Fail,” and Butch Leonardson, senior vice president and chief information officer of BECU of Seattle. Other presenters at the conference included Star One CU of Sunnyvale, Calif., Sandia Laboratory FCU of Albuquerque, Calif., and uMonitor partners T8 Webware, Next IT, William Mills Agency, Experian and TransUnion. Session topics included streamlined online account opening, person-to-person payments, account-to-account money transfers, multichannel integration, social media and marketing. uMonitor also provided an update on 2010 successes and a technology roadmap for 2011. The Memphis, Tenn.-based provider of account opening and funding solutions offered existing users of its uTransfer technology free implementation and no transaction fees for its person-to-person payments service for the remainder of 2010.

Desjardins Group TMGFS pact to provide rewards cards

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DES MOINES, Iowa (11/19/10)--In a historic agreement for cooperative financial institutions, TMG Financial Services and Desjardins Bank of Florida have entered into an agreement to offer a consumer rewards credit card to clients in the U.S.
Click to view larger image Daniel Veilleux, president and chief financial officer of Desjardins Bank of Florida, and Jeff Russell, president of TMG Financial Services, met in Canada to formally sign an agreement to offer a consumer rewards credit card to bank Desjardin members in the U.S. (Photo provided by TMF Financial Services)
TMG Financial Services is a subsidiary of TMG, a card processing credit union service organization affiliated with the Iowa Credit Union League. Desjardins Bank of Florida is a subsidiary of the Desjardins Group of Canada, a cooperative financial institution based in Canada. Desjardins Bank of Florida primarily serves Canadian citizens who have immigrated to or reside for part of the year in the U.S. TMG Financial Services has finalized an issuing agreement with the subsidiary and will begin underwriting credit cards in January. “This is a historic agreement for TMG Financial Services as we are partnering with one of the world’s largest and most well-known cooperative financial institutions,” said Jeff Russell, president/ CEO of TMG Financial Services. “With more than $173 billion in assets and 5.8 million members in Canada, Desjardins Group is a model for cooperatives across the globe.”