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SVPCO sets monthly items dollar value records

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NEW YORK (7/15/08)--SVPCO, the paper and electronic check exchange business of The Clearing House Payments Company LLC, announced Monday that its image payment network set records for monthly items and dollar value last month. Average daily volume was 22.4 million items, an increase of 115% compared with last year. The network processed 470.9 million check images, a 115% increase compared with last year. Dollar value was $773.8 billion, a 88.2% increase from last year. “Exchanges of items for non-network financial institutions are a new source of volume and they are expected to continue growing strongly for the remainder of 2008,” said Susan Long, The Clearing House senior vice president. “The network’s capacity to handle transit items is another way institutions are leveraging the power of the nation’s leading image exchange network to reduce paper check processing costs.”

Texans CU announces new CUSO

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DALLAS (7/15/08)--Texans CU announced the launch of Innovative Support Solutions (ISS), a new credit union service organization. ISS will provide risk management and fraud protection, operations and consulting services to financial services and related industries. “Our initial focus is to meet the tactical needs of credit unions,” said Ray Seefeldt, ISS president. “ISS will support credit unions in various ways, allowing credit union executive management and boards to focus on their specific organizations and member needs.” Risk management services range from transaction risk analysis and management to regulatory consulting services such as Fair and Accurate Credit Transactions Act development and implementation. Operations solutions include database management, information technology operations outsourcing and hosted processing services. Consulting services will provide professional services including core system implementation, integration, upgrade and related support.

OnPoint seeks to reduce scan costs through TotaleAtlas

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LINDEN, N.J. (7/15/08)--OnPoint Community CU, Portland, Ore., is aiming to reduce the costs of manually scanning and indexing completed documents by selecting Integrated Media Management’s (IMM) TotaleAtlas document preparation solution. “The biggest savings in making this change will be the reduction in costs that come from no longer moving documents between branches,” said Grant Gaines, OnPoint technology manager. Members can sign documents by using a digital signature pad. The file is automatically indexed and archived as a PDF file. OnPoint also will use the DocQ module, which provides for partially signed documents to be stored in a queue so that signer or co-signer can complete the document electronically at a different time or branch. OnPoint has 185,000 members and 11 branches. It has $2.5 billion in assets.