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CO-OP Financial partners with Calif. and Nev. Leagues

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RANCHO CUCAMONGA, Calif. (4/27/11)--The California and Nevada Credit Union Leagues will market member access and convenience products and services from CO-OP Financial Services under a new partnership announced Tuesday. The leagues are promoting CO-OP's complete line of products, including network, e-commerce, payment processing, shared branching and call center services. As part of the agreement, CO-OP will support industry education initiatives by the leagues. The partnership "means that members of participating credit unions can not only take advantage of surcharge-free ATMs via CO-OP Network, but other products such as CO-OP Mobile, which allows members to handle transactions via their cell phones and other devices," said Sylvia Fath, senior vice president, business services for the leagues. Fath noted that CO-OP contributes much to the credit union movement. It subsidizes surcharge-free ATMs at 7-Eleven and other retail stores. It also contributes to credit union charities and causes. It sponsors league Shapiro credit unions to attend the Credit Union National Association Governmental Affairs Conference, and contributes to the National Credit Union Foundation and to Children's Miracle Network Hospitals via its CO-OP Miracle Match program, she said. "The leagues are important partners in our shared goal to make sure credit unions can compete with banks in terms of offering their members convenient access to their accounts anywhere, anytime," said Ritch Ellis, vice president, sales of CO-OP Financial Services.

CUNA Mutual offers Straight Talk online info

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MADISON, Wis. (4/27/11)--CUNA Mutual Group is offering a new Web-based resource that offers a transparent look at how the bond provider prices its coverages, makes adjustments and pays claims and the insurance-buying patterns of peer credit unions. “The ‘Straight Talk’ program has one goal--to provide credit unions with a transparent look into the Credit Union Protection division,” said Chad Nitschke, CUNA Mutual vice president of commercial products. “Credit unions are going through perhaps the most difficult period in their history,” Nitschke added. “We realize our customers don’t always agree with some of our decisions, but our intent is to make decisions that are in the best interests of all our collective policy owners.” The site features “You Be the Judge,” which demonstrates the fine line between insurable and uninsurable risks. After reading a scenario with talking points that influence decisions to approve or deny a claim, readers can cast their vote and then learn the verdict. Other Straight Talk features are:
* The Watercooler--CUNA Mutual product leaders and risk managers will present articles, ideas, trends and data designed to help credit unions remain financially secure. * Board.edu—The feature contains a series of short, focused question-and-answer videos to help credit union board members get information on risks relevant to their credit union’s success and their personal liability. The videos are less than 10 minutes and can be viewed individually, making them ideal for board meetings. * Peer Data--This tool allows credit unions to see what credit unions in their peer group are purchasing, and outlines limit and deductible levels for 13 different coverages. * Risk Management Services--This section features updates on new and emerging risks, including access to risk alerts, white papers, Webinars, online assessments, and a link to “Meet Your Risk Manager.”
Straight Talk is based on customer input. A group of 10 credit union policy owners nationwide that make up CUNA Mutual’s Credit Union Protection Advisory Panel not only tested and validated the concept, but two of the features, Peer Data and Board.edu, were original ideas from the group.

Open Solutions launches on-demand services

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GLASTONBURY, Conn. (4/27/11)--Enterprise technology provider Open Solutions Inc., has launched a package of on-demand services through its global operations center (GOC) for its clients, including credit unions. GOC is a computing facility that provides single-source processing for an institution’s core system and ancillary solutions, such as item processing, loan origination, relationship management, financial accounting and Internet banking. Open Solutions’ GOC provides a hardware and software environment and technical expertise for financial institutions that prefer a shared, fully managed environment. This allows on-demand clients to reduce costs, address complex regulatory requirements, access scalable computing resources, and focus on their primary business rather than their information technology infrastructure. Open Solutions consolidates each on-demand client’s technology systems under one roof. The GOC frees clients from the expense of replacing outdated and obsolete technology and provides scalability. Certified professionals in banking, regulation, security, infrastructure, disaster recovery, networking, database administration and operations staff the GOC. The company also has a new strategic partnership with HEIT, a provider of cloud-delivered managed services for community financial institutions. HEIT provides server, desktop, printer and internal network performance monitoring and management services.