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Northwest FCU first CU to win ITAC member protection award

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WASHINGTON (3/1/11)--Northwest FCU's commitment to protecting its members from identity theft and fraud will be honored at the Credit Union National Association's (CUNA) Governmental Affairs Conference in Washington, D.C. today. T
Click to view larger image John Franklin, left, executive vice president/chief operating officer of the Credit Union National Association (CUNA), and Anne Wallace, president of ITAC, present the first Excellence in Member Protection Award to Northwest FCU's Bill Cook, senior vice president of planning/member services, at CUNA's Governmental Affairs Conference today. (CUNA Photo)
he Herndon, Va., credit union is the first credit union to receive the Excellence in Member Protection Award from ITAC, the Identity Theft Assistance Center, a national advocate for ID theft victims. "An important part of our commitment to our members is providing them with the programs and services that improve and protect their financial well-being," said Gerrianne Burks, president/CEO of the $2 billion asset credit union. "ITAC Sentinel provides the essential tools needed to do that. We are confident that our partnership with ITAC, who is known as a leader in identity protection and an advocate for identity theft victims, will strengthen the protection and financial security of our members," she said. ITAC Sentinel is offered in partnership with Intersections Inc., a provider of consumer and corporate identity risk management services and a CUNA Strategic Services alliance provider. "As the incidence of ID theft escalates, few consumers are equipped to protect themselves from this risk. Education and a top-notch ongoing review and analysis of credit transactions and reports such as that provided through ITAC Sentinel are the best defense," said John Franklin, executive vice president/chief operating officer at the Credit Union National Association, in recognizing the success of Northwest FCU on educating its members on the perils of identity theft.

Strategic Solutions boot camp addresses bottom line

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ST. PAUL, Minn. (3/1/11)--Even in a tough economy, credit unions can gain more of their members' profitable business--if staff know how to do it. To help credit unions boost their bottom line while developing staff's ability and likelihood to ask for additional member business, Strategic Solutions is offering a Trainer Certification Boot Camp for its Member Advocacy Pathways (MAP) program. MAP provides an internally driven process to transfer order-taking front-line employees into business-generating advocates. Employees learn:
* About life events that trigger the greatest needs for financial services; * How to initiate conversations with members that uncover those hidden needs; * How to offer solutions that are mutually beneficial to the credit union and the member; and * How to engage members in taking action on those offers.
The MAP boot camps are held each spring and fall in St. Paul, Minn. The next boot camp will be May 10-13. Registration is open through April 26. The program is designed for credit unions' internal trainers, marketing managers, branch/operations managers and employees responsible for staff development. More than 150,000 members from credit unions across the U.S. have seen financial assistance provided to them from MAP-trained employees.

Diebold improves uptime security at Union Square FCU

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NORTH CANTON, Ohio (3/1/11)--Diebold Inc. is providing several integrated services to assist Wichita Falls, Texas-based Union Square FCU in monitoring, remote services and enhanced security for its network of 21 ATMs. It also is providing deposit automation technology to six of the credit union's ATMs. Diebold is a CUNA Strategic Services provider. The services provided include Advisor ATM monitoring, OpteView remote services, endpoint protection monitoring, software subscription management and help-desk support. Diebold also added deposit automation technology hardware that supports envelope-free transactions, including enhanced note acceptors (ENA) and Intelligent Depository Modules (IDM). The ENAs allows users to deposit up to 50 mixed-denomination notes, which are then verified and itemized note by note. The IDMs accept and process checks and bill payment documents. The ATMs display cash and check deposit details on screen for member verification and print deposit details, including check images, on receipts. Automated note and check verification at the ATMs has allowed Union Square FCU to evolve from posting transactions the next business day to real-time posting, giving members immediate access to deposited funds. Also, the credit union now collects deposits for those ATMs weekly instead of daily, which reduced the cost of collecting the deposits. "Deposit automation not only adds convenience to ATM transactions, it also adds an element of trust for users," said John M. Deignan, vice president, chief marketing officer, Diebold. "Union Square has reported an increase in the volume and value of check and cash deposits at its image-enabled ATMs. This is consistent with deposit automation implementations across the industry. Real-time account credit and detailed transaction summaries make the enhanced, envelope-free deposit experience attractive to consumers." Diebold and Union Square plan to launch MobiTransact, a mobile banking solution, later this year so members can use their mobile devices to complete transactions, transfer balances and make bill payments.

2010 marked growth for myCUmortgage

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FAIRBORN, Ohio (3/1/11)--Credit union partners of myCUmortgage closed 7,800 loans, resulting in nearly $1 billion in total loan volume for 2010, the credit union service organization (CUSO) of Wright-Patt CU, Fairborn, Ohio, announced last week. That meant a 24% increase in loan activity and 22% in loan volume, with myCUmortgage paying a record $3.6 million to its partners for loans closed last year. The CUSO attributed the results to the addition of new credit union partners, an increase from 100 partners beginning in 2010 to 127 partners representing more than two million members and $18 billion in assets. New partners include:
* West Virginia National Guard FCU, Charleston, W. Va.; * Travis CU, Vacaville, Calif.; * Tiffin St. Joseph FCU, Tiffin, Ohio; * Medina County FCU, Wadsworth, Ohio; * Seven Seventeen CU, Warren, Ohio; * McGraw-Hill FCU, East Windsor, N.J.; and * BFG FCU, Akron, Ohio.
"myCUmortgage's focus of offering more revenue to our credit union partners at lower costs to their members enabled us to experience tremendous growth," said Tim Mislansky, president of the CUSO. "We believe credit unions work best when credit unions work together and the payment of $3.6 million to our partners in a challenging financial year is a testament to this collaboration." The CUSO attributed its 24% loan volume hike to historically low mortgage interest rates, more awareness of credit union mortgage products, greater market penetration and active credit union partners. "Before myCUmortgage, we only offered a 15-year term mortgage," said Susie Breitmeyer, chief lending office at $142 million asset Class Act FCU, Louisville, Ky. In the nine months Class Act has been working with the CUSO, it has closed 22 loans totaling more than $2.7 million in 20- and 30-year terms. "This partnership is helping our credit union grow as we provide a product for our community wants and needs," Breitmeyer said.