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Products

SVPCO reports 128 uptick in check images

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NEW YORK (5/13/08)--SVPCO reported a 128% increase for April in check images compared with the same time last year. SVPCO, the paper and electronic check exchange business of The Clearing House Payments Company LLC, reported 443.7 million check images in April. The average daily volume was 20.1 million item--an increase of 118.4%, over the same time period last year. The network also reported $715.5 billion in dollar value, an 86.5% increase from April 2007. On April 7, a record 31.2 million items valued at $46 billion were handled by the network. “Check images grew strongly in April due to greater volume from existing institutions and the addition of new ones,” said Susan Long, The Clearing Housing senior vice president. A participating institution in the SVPCO Payments Network includes Members United Corporate FCU, Warrenville, Ill.

CUSN honors CUs with shared-branching excellence

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LAKEWOOD, Colo. (5/13/08)--Credit Union Service Network (CUSN) announced its list of honorees for its first annual Shared Branching Excellence (SBE) awards. The awards were presented during the CUSN 2008 Annual Meeting May 8 to:
* Community Choice CU, Commerce City, Colo., for the greatest issuer transaction growth. Commerce City grew 60%. It has $28.9 million in assets; * Spirit of America FCU, Lincoln, Neb., for the greatest acquirer of transaction growth. Spirit of America grew 124%. It has $25.7 million in assets; * White Crown FCU, Denver, for the largest ratio of annual issuer transactions to total members. White Crown had a ratio of 6.3. It has $46.5 million in assets; and * St. Vrain Valley CU, Longmont, Colo., for the best marketing campaign. St. Vrain has $71 million in assets.
Tom Evers, president/CEO of Premier Members FCU, Boulder, Colo., was presented with a Vision award for his commitment to the shared branching movement. He helped develop CUSN in 1991 and was chairman from 1995 to 2002.