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Products

CO-OP Mobile demand heats up

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RANCHO CUCAMONGA, Calif. (8/21/09)--CO-OP Financial Services has signed six business partners for its new mobile banking solution since mid-July and finalized seven new client contracts since Aug. 1. Introduced in February, CO-OP Mobile integrates into the CO-OP Next Generation Network (NGN). Members of credit unions participating in NGN can use the CO-OP Mobile application via their mobile devices to verify balances, view transaction history and transfer funds between accounts. CO-OP Mobile partners include:
* Credit Union Centers of Indiana; Indianapolis; * Credit Union Service Network (CUSN), Lakewood, Colo.; * Kentucky Credit Union League (KCUL), Louisville, Ky.; * New Jersey Credit Union League (NJCUL), Hightstown, N.J.; * Tennessee Credit Union League, Chattanooga, Tenn.; and * Universal Sharing Networking Inc., Albany, N.Y.
CUSN and NJCUL have also signed on as business partners for CO-OP My Deposit, the company’s online home deposit tool; as has KCUL for CO-OP Network, CO-OP’s network of 28,000 surcharge-free ATMs. Synergent Technology Services, Westbrook, Maine, a CO-OP Network business partner since January, also signed an agreement to sell CO-OP My Deposit. CO-OP Financial Services, Rancho Cucamonga, Calif., is a credit union service organization offering credit unions 28,000 surcharge-free ATMs and other network and processing services.

CU Student Choice launches CU Select

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WASHINGTON (8/21/09)--Credit Union Student Choice, a credit union service organization (CUSO) that provides student lending services to credit unions, announced the launch of CUSelect, a Web tool to help would-be private student loan borrowers connect with credit unions in the Student Choice network. “We have more than 80 credit unions in our network, offering loans with zero origination fees and average rates that are 3% to 5% lower than the average rates charged by many national lenders,” said Scott Patterson, Credit Union Student Choice executive vice president. He estimated that the 10,000 borrowers the network helped this summer will save $200 million over the life of the loans. Since launching in May 2008, credit unions in the network have approved more than $150 million in private student loans. The average interest rate is less than 6%.