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CUSO providing free data processing to start-up CUs

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GRAND RAPIDS, Mich. (5/5/08)--CU*Answers, a credit union service organization, announced that it will help start-up credit unions by providing them free data processing for two years. The credit union is responsible only for any third party pass-through fees, the company said Thursday. CU*Answers also will meet with the credit union’s management team to adjust processing fees accordingly. “It may work out to being a ‘step ladder’ approach to gradually increasing fees during the next three-year period to assist a credit union’s early growth efforts,” the company said. Credit unions are required to sign an initial five-year processing agreement with CU*Answers to launch the program. No early termination fees apply.

U.S. Central Fiserv announce DP contract with new CUSO

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BROOKFIELD, Wis. (5/5/08)--Fiserv and U.S. Central FCU have announced a new core processing agreement between Fiserv and Core Network Processing (CNP), a credit union service organization. The agreement runs through December 2011. Fiserv will provide core processing for:
* Corporate America CU, Irondale, Ala.; * FirstCorp CU, Phoenix; * Kentucky Corporate FCU, Louisville, Ky.; * Louisiana Corporate CU, Metairie, La.; * Missouri Corporate CU, St. Louis, Mo.; * Tricorp FCU, Portland, Maine; * U.S. Central FCU, Lenexa, Kan.; and * West Virginia Corporate CU, Parkersburg, W.Va.
U.S. Central provides processing for member credit unions through the Corporate Credit Union Network System, a three-tiered Fiserv solution for corporate credit unions. A previous contract ran through May 2009. When U.S. Central announced its decision to exit core processing, the contract was transferred to CNP and was extended for two-and-a-half years. Fiserv is a core processor for credit unions headquartered in Brookfield, Wis.

CO-OP Financial Services seats officers new director

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RANCHO CUCAMONGA, Calif. (5/5/08)--CO-OP Financial Services has seated officers and elected a new director to its board. J. David Osborn, president/CEO, Anheuser-Busch Employees CU, St. Louis, Mo., was elected chairman of the board. He replaces David Maus, president/CEO of Public Service CU, Denver. Maus’ term expired, but he will remain on the board. Osborn has worked in the credit union industry for 32 years. He has been president/CEO of Anheuser-Busch Employees CU since 1992. Gary Oakland, president/CEO, BECU, Seattle, was elected to the board. He succeeds Tom Sargent, president/CEO, First Tech CU, Beaverton, Ore. Sargent’s term expired. Oakland has been president/CEO of BECU since 1986. Other officers include vice chairman Doug Allman, president/CEO, NASA FCU, Upper Marlboro, Md. And treasurer Terry Laudki, president/CEO, New Mexico Educators’ FCU, Albuquerque, N.M. Diane Addington, president/CEO, T and C FCU, Pontiac, Mich., will continue as board secretary and Bucky Sebastian, president/CEO, GTE FCU, Tampa Bay, Fla., will serve a three-year term. CO-OP Financial Services is a credit union service organization that provides ATM network access, ATM processing, debit/credit card services and shared branching. It also has more than 25,000 surcharge-free ATMs for credit union members.