![]() | ||
|
Headlines via Email RSS Feed
|
||
|
News Now LiveWire
Products & ServicesHeadlines
CO-OP mobile software now on iPhone RANCHO CUCAMONGA, Calif. (11/6/09)--CO-OP Financial Services announced that CO-OP Mobile Banking is now available on the Apple iPhone. CO-OP Mobile integrates into CO-OP's Next Generation Network (NGN). Members of credit unions in NGN can use CO-OP Mobile to verify balances, view transaction history and transfer funds between accounts. iPhone support began live testing last month. iPhone users can deploy CO-OP Mobile by downloading the CO-OP application from the Apple iTunes Store. Apple's iPhone is a multimedia smart phone. Apple has sold more than 7.4 million units this year, CO-OP said. "Adoption of mobile banking services is essential for credit unions to attract and retain members, especially among the young, tech-savvy, high income, upwardly mobile and the underserved," said Stan Hollen, CO-OP president/CEO. CO-OP Financial Services, a credit union service organization based in Rancho Cucamonga, Calif., offers ATM and debit processing services, shared branching, check imaging, mobile payments and access to 28,000 surcharge-free ATMs. PSCU Financial Services adds iPhone/iPod touch apps ST. PETERSBURG, Fla. (11/6/09)--PSCU Financial Services' mobile banking platform, mBanking, can now be used on the iPhone and iPod Touch, the company announced this week. The new capability will help credit unions attract Generation Y and other member segments that use iPhones and iPods. "iPhone and iPod Touch users represent a significant percentage of mobile banking customers," said John Pembroke, PSCU Financial Services chief marketing officer. PSCU Financial Services, St. Petersburg, Fla., serves more than 1,300 financial institutions nationwide.
Products and Services brief
Agility Recovery Solutions offers free H1N1 webinar CHARLOTTE, N.C. (11/5/09)--Agility Recovery Solutions is offering a free webinar for credit unions to help them prepare for a potential pandemic of H1N1, also known as swine flu. The webinar will take place Nov. 18. at 2 p.m. EST. Dr. William Lang, former associate chief medical officer at the Department of Homeland Security, will provide attendees with steps they can take to prepare for a possible pandemic. President Barack Obama has declared H1N1, a national emergency. The Center for Disease Control reports flu activity is widespread in 46 states, Agility said in a release. Agility is a CUNA Strategic Service provider. Resource Links SW Corporate paper addresses remote deposit PLANO, Texas (11/5/09)--Remote deposit has benefited credit unions because of operational efficiencies and cost reductions, according to a new white paper from Southwest Corporate in Plano, Texas. The paper, "Five Years Later: A Perspective on Check 21 and the Remote Deposit Industry," explores the changes that have taken place in the remote deposit industry and their effect on credit unions. Remote deposit was made possible after the Check Clearing for the 21st Century Act, Check 21, became effective in 2004. Check 21 authorized financial institutions to create a legal equivalent, or substitute check, printed from electronic images of the original check. As a result, financial institutions can exchange images of checks with other financial institutions without physically transporting the checks. The paper notes efforts by early credit union adopters of remote deposit. For instance, Digital FCU, Marlborough, Md., enrolled 3,000 users in the first week and saw figures surge to 16,000 users in the first five months of using remote deposit, the paper said. Southwest Corporate offers credit unions Branch Capture and Teller Capture. Brad Ganey, Southwest Corporate senior vice president of payment services, encouraged credit unions to do their homework when choosing remote deposit products. "It's important that 11th-hour decisions are not made in a vacuum," he said. "We've seen decisions made too quickly because the Fed was closing the site nearest to the credit union, or a service provider told the credit union it was not going to service paper anymore. "Credit unions need to talk strategically about how a product fits into their long-term plan. Is this a product that offers the ability to attach other applications to it in the future or will it have to be thrown away later? Can the credit union use the same channel to deploy multiple applications?" Ganey said. The paper concluded that the future will further push remote deposit toward credit unions and members. "Many benefits are available to credit unions that perform their due diligence and launch them with proper planning and appropriate safeguards," the paper said. "The industry has come a long way in five years, and evidence suggests the next five will evolve just as quickly." Diebold reports 3Q financials NORTH CANTON, Ohio (11/5/09)--ATM manufacturer Diebold reported its third quarter income from continuing operations at $24.5 million, or 37 cents per share--down 49% from third quarter 2008. Third quarter revenue was $645.2 million, which is 26% less than third quarter 2008. Nine-month year-to-date 2009 income from continuing operations attributable to Diebold, net of tax, was $65.2 million, or 98 cents per share. That is a drop of 28% from the same period last year. Nine-month year-to-date 2009 revenue totaled $1.99 million, down 13% from 2008. Non-generally accepted accounting principles (GAAP) earnings per share from continuing operations attributable to Diebold, net of tax, in the third quarter 2009 were 39 cents, down 67% from third quarter 2008. Nine-month year-to-date 2009 non-GAAP earnings per share accounted $1.36, a decrease of 40% from the same period in 2008. All results from operations reported, including prior periods, reflect Premier Election Solutions as a discontinued operation. CO-OP completes acquisition of LoanLink Center RANCHO CUCAMONGA, Calif. (11/4/09)--CO-OP Financial Services has finished acquiring the LoanLink Center, which provides member and loan services to members of roughly 350 credit unions. The planned acquisition was first announced Oct. 7 by LoanLink's original owner, CUNA Mutual Group. The transfer was completed at the end of business Saturday. CO-OP LoanLink will continue to operate in Fort Worth, Texas. No immediate changes are planned for business except a rebranding effort to recognize the service as a CO-OP offering. CUNA Mutual Group and CO-OP will partner in CO-OP LoanLink Center sales. CO-OP LoanLink employs more than 300 individuals. The center has an exclusive agreement to use CO-OP's Next Generation Network (NGN) platform, which offers credit unions other CO-OP NGN services, including CO-OP Mobile and CO-OP My Deposit. CO-OP Financial Services, Rancho Cucamonga, Calif., is a credit union service organization that provides credit unions with ATM access, processing, check imaging, shared branching and mobile payment services. The CO-OP Network offers credit unions access to 28,000 surcharge-free ATMs. Syphr launches lead generation site FERNDALE, N.Y. (11/4/09)--Credit union service organization Syphr has launched a new loan evaluation website, SaveOnYourLoans.com, which aims to reduce the time consumers spend gathering their billing statements and comparison shopping for reduced loan payments by securing refinancing with a local credit union or community bank. Syphr built the website with partners EQUIDATA and Innovative Software Solutions to shift the burden of comparison shopping for mortgages and car loans from consumers to retail financial institutions. "Ultimately, the goal is to reverse the traditional seller-centric methods used by sites like LendingTree and Bankrate, changing the lead generation game as we know it," said Chris Langley, Syphr president. The website officially launched Monday.
CUs get expanded FinanceWorks for online banking CALABASAS, Calif. (11/3/09)--Digital Insight announced that FinanceWorks, an online financial management solution, is now available for credit unions that do not use Digital Insight's Internet banking platform. FinanceWorks, powered by Quicken, gives users control over their financial decisions by accessing account information from more than 12,000 financial institutions and credit card sites. Users receive a view of their cash flow and spending habits, and can manage their budget. FinanceWorks's data on early users indicate that they:
About 80% of Americans say their financial institution's online channel is the best place to manage their finances, yet 27% say they manage their finances online, Digital Insight said. CO-OP Network contract renewals are brisk RANCHO CUCAMONGA, Calif. (11/3/09)--CO-OP Financial Services received 21 contract renewals from credit union clients for its CO-OP Network Full Processing service since July 1. The service provides credit unions with electronic funds transfer processing for ATM transactions. Credit unions renewing their contracts include:
Many clients who renewed their contracts also use CO-OP's Signature Debit Card Processing. Many chose to renew the debit service, CO-OP said. CO-OP Financial Services, Rancho Cucamonga, Calif., offers 28,000 surcharge-free ATMs through the CO-OP Network. Jack Henry announces purchase of PEMCO MONETT, Mo. (11/2/09)--Jack Henry and Associates announced its acquisition of Pemco Technologies, a subsidiary of PEMCO Corp., which provides payment processing solutions for the credit union industry. Terms of the transaction were not disclosed. Pemco offers services including debit signature processing; personal identification number-based processing; ATM services; cardholder awards programs; fraud management, detection and prevention solutions; personalized cards; and prepaid card programs. The acquisition supports Jack Henry's expansion in the electronic payments industry, according to Jack Prim, the company's CEO. "This acquisition expands our presence in the credit union space and enables us to broaden our reach outside our core client base," he said. "We can sell these solutions to any credit union, regardless of core processing system, that has an in-house credit card program and needs a third-party getaway service to pass credit card transactions to Visa and MasterCard for processing." PEMCO Corp. decided to divest the Pemco Technologies business line to focus on its primary insurance business, Jack Henry said in a release. Jack Henry, Monett, Mo., is a provider of computer systems and ATM, debit card and automated clearinghouse transaction processing services for financial institutions, including credit unions. Wright-Patt acquires Select Mortgage Group FAIRBORN, Ohio (11/2/09)--Wright-Patt CU and its wholly owned subsidiary have acquired Select Mortgage Group (SMG) to bolster mortgage services to credit unions and their members. SMG President Rodger Merkel and Vice President of Sales David Mills will continue to lead the company, which has 12 employees, under the current business name. The acquisition will boost Wright-Patt's myCUmortgage processing and underwriting services, the credit union said. "As our mortgage business has grown, we were looking for a way to expand," said Tim Mislansky, Wright-Patt senior vice president and president of myCUmortgage. "SMG's infrastructure and credit union client base offer us the opportunity to expand. Over time we expect to create synergies to lower the cost of home financing to credit union members, enhance how we help credit unions serve their memberships' mortgage needs, and help credit unions keep more of the revenue generated by mortgage lending," Mislansky said. Wright-Patt CU, Fairborn, Ohio, has $1.6 billion in assets. |
||
|
Copyright © 2009 - Credit Union National Association, Inc. |
||