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CO-OP completes acquisition of LoanLink Center

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RANCHO CUCAMONGA, Calif. (11/4/09)--CO-OP Financial Services has finished acquiring the LoanLink Center, which provides member and loan services to members of roughly 350 credit unions. The planned acquisition was first announced Oct. 7 by LoanLink’s original owner, CUNA Mutual Group. The transfer was completed at the end of business Saturday. CO-OP LoanLink will continue to operate in Fort Worth, Texas. No immediate changes are planned for business except a rebranding effort to recognize the service as a CO-OP offering. CUNA Mutual Group and CO-OP will partner in CO-OP LoanLink Center sales. CO-OP LoanLink employs more than 300 individuals. The center has an exclusive agreement to use CO-OP’s Next Generation Network (NGN) platform, which offers credit unions other CO-OP NGN services, including CO-OP Mobile and CO-OP My Deposit. CO-OP Financial Services, Rancho Cucamonga, Calif., is a credit union service organization that provides credit unions with ATM access, processing, check imaging, shared branching and mobile payment services. The CO-OP Network offers credit unions access to 28,000 surcharge-free ATMs.

Syphr launches lead generation site

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FERNDALE, N.Y. (11/4/09)--Credit union service organization Syphr has launched a new loan evaluation website, SaveOnYourLoans.com, which aims to reduce the time consumers spend gathering their billing statements and comparison shopping for reduced loan payments by securing refinancing with a local credit union or community bank. Syphr built the website with partners EQUIDATA and Innovative Software Solutions to shift the burden of comparison shopping for mortgages and car loans from consumers to retail financial institutions. “Ultimately, the goal is to reverse the traditional seller-centric methods used by sites like LendingTree and Bankrate, changing the lead generation game as we know it,” said Chris Langley, Syphr president. The website officially launched Monday.