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Synergent launches CUTRAC database management program

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WESTBROOK, Maine (5/29/08)--Synergent, a subsidiary of the Maine Credit Union League, announced last week the launch of its Web-based database management program, CUTRAC (Credit Union Ticketing, Resolution and Change). The database aims to change the ticketing processes for Synergent’s 50 credit unions, said Nick Chasse, Synergent new account relationship manager. “CUTRAC allows credit unions to prioritize their incidents, so we know what is most important to them,” he said Communication between Synergent and credit unions will be sent primarily through e-mail. “This allows us to work as a team on issues, rather than one individual working on an incident from start to finish. It also allows staff to learn about all the incidents worked through the portal, including all steps toward resolution,” Chasse said.

Card Services for CUs to pay Visa IPO dividend

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CLEARWATER, Fla. (5/29/08)--Card Services for Credit Unions (CSCU) will pay $28.9 million in a dividend to 2,600 member credit unions--an average of about $11,100 each. The amount is 100% of what CSCU received from Visa’s initial public offering (IPO), said CSCU President Robert Hackney. CSCU will base its distributions on volume from the inception of CSCU in 1989 through December 2005. The patronage dividend will be paid in August or September, the company said in a statement. “We also are exploring options to allow member credit unions to invest their Visa IPO back into the product that generated the proceeds in the first place--their card portfolio. For example, some credit unions might consider converting primarily classic card portfolios to platinum, since they generate 80% more revenue per account,” Hackney added.

Shared-branch kiosk for CUs launched by Pendum

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DENVER (5/29/08)--Pendum is launching a self-service kiosk designed specifically for credit unions through the CO-OP Shared Branching and Financial Service Centers Cooperative Inc. (FSCC). The NCR 3800 Shared Branch kiosk allows credit unions to serve members and guest shared-branching members. The machine is powered by a web-based engine from Ensenta. Credit unions can install kiosks in locations that are most convenient to members. The kiosk aims to reduce processing costs by 50%, reduce float time and eliminate up-front expenses in purchasing an image consolidation solution. “This system lets us view shared-branching transactions made by our members and non-members at all Ensenta and 7-Eleven Vcom units,” said Kelly Valencia, EFT Services manager of First Tech CU, Portland, Ore. Pendum provides cash automation solutions to financial institutions in 42 states.