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CUSO partners with 247 Member Loyalty Group

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ST. PETERSBURG, Fla. (2/18/09)--PSCU Financial Services announced Monday Member Loyalty Group LLC has partnered to use PSCU Financial's Total Member Care call-center solution for outbound call services. Member Loyalty Group is a credit union service organization (CUSO) created to implement a standardized member-loyalty metric for credit unions of any size. It will use PSCU Financial Services outbound call services to conduct phone surveys. The surveys, used with surveys by mail and e-mail already employed by Member Loyalty Group, will provide credit unions with loyalty data via the Net Promoter Score (NPS), a metric that measures how effectively credit unions and employees serve members. PSCU Financial Services, a credit union service organization based in St. Petersburg, Fla., was chosen as a partner because of its security standards, process scalability and understanding of the credit union industry and its focus on members.

Covera discounts cards for CUs in Heartland breach

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ALBANY, N.Y. (2/18/09)--Covera Card Solutions recently announced that credit unions impacted by the Heartland Payment Systems security breach will receive a special card replacement discount. Any plastic orders placed as a result of the compromise will be discounted by 15%. Card payments processor Heartland Payment Systems announced in January that its processing system was breached last year by a malicious software program in what could be the largest data breach to date, with possibly more than 100 million credit cards compromised (News Now Jan. 21). “In these difficult financial times and in light of the largest account compromise in history, Covera Card Solutions wants to extend a hand to credit unions,” said Chief Operating Officer Kimberly McCumber-Ploof. The information breached included card numbers and cardholders’ names. It did not include merchant data, cardholders' Social Security numbers, unencrypted personal identification numbers, addresses or telephone numbers, said the Princeton, N.J.-based company in a press release. Covera Card Solutions provides credit unions in New York, New Jersey and Connecticut with credit, debit and ATM card programs.

CU Business Group touts record year

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PORTLAND, Ore. (2/18/09)--CU Business Group LLC (CUBG) experienced a record year in 2008. The business services credit union service organization (CUSO) surpassed all performance goals for the year, and experienced record volumes, reviewing more than $500 million in business loans for credit unions. The record is more than twice what it was in 2007 and brings the total value of loans the organization has reviewed to nearly $1.5 billion.
CEO Larry Middleman points out on the CU Business Group LLC (CUBG) headquarters map where the 296 credit unions the CUSO works with are located. (Photo provided by CU Business Group)
CUBG also signed on 35 new credit unions last year, for a total of 286 credit unions in 35 states. The company doubled the number of loan participations it offered members of its participation network and saw a 46% increase in the number of participating credit unions. The number of credit unions using its risk monitoring and documentation services also increased. “2008 was really a break-out year for CU Business Group,” explained Larry Middleman, president/CEO. “Volumes skyrocketed in every aspect of our operations. Credit unions are getting tremendous opportunities in business services these days and it’s very rewarding that CUBG can help them capitalize on these opportunities.” To manage growing volumes, the CUSO added seven new positions last year, bringing its total staff to 24 employees. Partnering with 11 corporate credit unions, CUBG provides business lending, deposit and consulting services to credit unions nationwide.