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California Agribusiness CU to become Autoland equity owner

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BUENA PARK, Calif. (2/7/08)--California Agribusiness CU will become Autoland Inc.’s equity owner. Adam Denbo, CEO of the Buena Park, Calif.-based Agribusiness CU, will join Autoland’s board of directors. “When I heard that Autoland was becoming a credit union service organization (CUSO), I knew that this was an excellent opportunity to ensure its continued success and service to credit unions of all sizes,” Denbo said. Autoland hopes to become a nationally owned CUSO, the company stated. Autoland is a CUSO and auto-buying resource for credit unions nationwide, with a large concentration in California, Oregon and Washington. Its services include Web tools, car-buying service for all members with new or pre-owned cars, trade-in service, a contact center, a retail dealership outlet, and a value line of vehicles.

Jack Henry ups dividend adds buy-back shares

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MONETT, Mo. (2/7/08)—Jack Henry and Associates has increased its quarterly cash dividend 15% to $0.75 per share. The dividend on common stock, valued at $0.01 per share, will be paid on March 6 to shareholders of record as of Feb. 19. As of Jan. 29, there were 87,376,885 shares of common stock outstanding. The company also increased its 10 million share stock repurchase authorization by another five million shares, bringing the total authorization to 15 million shares. In September 2001, the company approved a buyback program authorizing the repurchase of three million shares of common stock, which was completed June 30, 2003. In October 2002, the board approved the current buyback program for three million shares. The shares increased by two million on May 2, 2005, and by five million on Aug. 28, 2006. The company will refinance its share repurchases with cash reserves or short-term borrowings from its credit facility. Jack Henry and Associates is a provider of computer systems and ATM/debit card and automated clearinghouse transaction processing services for financial service organizations.

AutoLease teams with CyberCalc Arbitrage on lease deals

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AUSTIN, Texas (2/7/08)—AutoLease has partnered with CyberCalc Arbitrage--a software applications provider for auto dealers, credit unions and independent leasing companies--to identify pre-owned lease deals. “Our core service is pretty simple,” said Jerry Thompson of AutoLease. “We provide lease payment advertising on dealership websites for our dealers’ existing inventories.” The partnership will allow dealers to advertise online through AutoLease, while CyberCalc will help dealers put lease vehicles in their inventories, according to AutoLease. “Pre-owned leasing is an untapped frontier,” said Jeff Cook, CyberCalc president. “Late-model, pre-owned leasing provides the greatest opportunity for consumers to drive more car for their money.” AutoLease develops software, processes and services to advertise lease payments for dealers online.

New product allows deposits from home

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BROOKFIELD, Wis. (2/7/08)--CheckFree, a part of Fiserv Inc., introduced its new remote capture product Wednesday. The CheckFree Remote Deposit Capture for Consumers product enables retail customers to electronically scan and deposit checks from any location, using a personal computer, a scanner and an Internet connection. That means consumers could make deposits from home. The product provides simple, easy-to-use functionality for the user without compromising security, fraud identification or processing quality that is required by financial institutions, said CheckFree. The solution will enable financial institutions to reduce operating costs and environmental resources associated with branch operations, back-office processing, and transportation, because checks will be submitted and processed electronically. Fiserv Inc. is a Fortune 500 company that provides information management and electronic commerce systems and services to credit unions and other financial and insurance services industries.