CU Wallet credit union-owned and directed mobile payments technology provider will promote the launch and ongoing strategic public relations and marketing efforts for its mobile wallet application. In partnership with William Mills Agency, the campaign for credit unions to meet the needs of an increasingly mobile membership base, attract a new generation of members and generate sustainable streams of revenue. At the time of the launch, 15 credit unions, ranging from $400 million to more than $5 billion in assets and representing more than 2 million members nationwide, have signed agreements with CU Wallet. Since the launch in late September, an additional 20 credit unions, ranging from $100 million to more than $6 billion in assets and representing more than 2.0 million members nationwide, have signed agreements.
Member Driven Technologies (MDT), a Michigan-based credit union-owned service organization (CUSO), and Bluepoint Solutions, a leading provider of remote deposit capture, item processing and enterprise content management solutions for financial institutions, announced a partnership that enhances MDT’s online banking and mobile banking offerings. QwikDeposit will be offered through both MDT’s online and mobile banking offerings, allowing credit union members to make check deposits from home using any TWAIN scanner or from their smartphone using the device’s camera. Members simply key in the deposit amount and then either scan or take photos of the front and back of each check deposited.
Credit Union 24 credit union-owned ATM & POS network appointed James Gukeisen Relationship Manager. Gukeisen served as Senior Card Services Manager and was responsible for the day-to-day operations of all non-credit card products, including debit cards, instant-issue cards, single-load gift cards and Suncoast’s 200 ATMs. Gukeisen also served as ATM manager and check-card manager, and was previously a project manager responsible for introducing new card products, developing rewards programs and assisting with fraud and risk management. Gukeisen is a Certified Credit Union Executive, a Certified Financial Management Specialist and a Certified Financial Services Professional.
Eight credit unions have signed on to begin offering the Coopera Card in 2012. A reloadable Visa prepaid card built specifically for the Hispanic community, the Coopera Card provides financial institutions with a tool for attracting new members and earning additional interchange income. The prepaid card gives Hispanic cardholders access to a secure financial management tool and eliminates the need for paying high fees for check-cashing, money order or money transfer services. A credit history is not required and alternative forms of ID are accepted to obtain the card. The Coopera Card was developed by Coopera in partnership with sister company and card processor The Members Group (TMG) to help credit unions ease members of the Hispanic community into the financial mainstream.
The Members Group (TMG) and CO-OP Financial Services announced they have formed a strategic partnership to combine strengths and deliver the largest array of payment solutions for credit unions. Under the agreement, CO-OP Financial Services has made a strategic investment in TMG. TMG and CO-OP Financial Services will continue to offer products under their own brands, operate independently and work within their existing management structures. At the same time, both companies will cross-sell all of their respective products and services. The alliance of TMG and CO-OP Financial Services means the two companies serve more than 40 percent of all U.S. credit unions and provide payment services to nearly 33 million cardholders.
CO-OP Financial Services, W.C.U.L. Services Corp. (WCUL) and Wisconsin Credit Union Shared Service Centers partnered to market CO-OP Network and Payment Processing services. CO-OP offers services that maximize member convenience and operational efficiencies for credit unions. WCUSSC already offers CO-OP Shared Branching, CO-OP Member Center and CO-OP E-Commerce Solutions. With the new agreement, WCUL and WCUSSC will also promote CO-OP Network and CO-OP Payment Processing services, which offers 28,000 surcharge-free CO-OP Networks ATMs nationwide, 9,000 of which are deposit-taking.
Credit Union 24 credit union-owned ATM and POS network is advocating against the National Credit Union Administration’s (NCUA) proposed information disclosure regulations on CUSOs. Credit Union 24 is providing tools to credit unions to help make their voice heard and is encouraging credit unions to lobby the NCUA against these regulations and posted a letter on its website, indicating the regulations will inhibit CUSO innovation and collaboration by replacing value and service factors with regulatory compliance and information disclosure, thereby not providing the same level of financial products and services for which credit unions have come to rely on CUSOs. Accordingly, it will also put CUSOs at a competitive disadvantage, thereby diminishing the intellectual value that they provide credit unions via their services, by having to disclose proprietary, confidential information to a government regulator where it may become publicly available under FOIA or equivalent laws.
The Credit Union 24 credit union-owned ATM and POS network Board of Directors has re-elected Mansel Guerry for an unprecedented fourth consecutive term as Chairman of the Board. Under his most recent term, Credit Union 24 has grown to become the nation’s largest credit union-owned POS network, as well as provide the nation’s largest surcharge-free ATM access available to financial institutions, and has developed robust EFT products and services to help credit unions navigate the many challenges they’ve been facing in recent years. Credit Union 24 also developed Debit Edge POS program to help credit unions protect their interchange income while facing the implementation of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Credit Union 24 has selected NitroSecurity’s integrated “NitroView” SIEM, Log Management, Database Activity Monitoring and Application Data Monitoring solutions to strengthen its corporate security strategy and demonstrate compliance with PCI DSS. With nearly half a million locations at major retailers and local merchants, it is the largest credit union-owned POS network in the United States. Counting more than 100,000 national and international ATM locations in its network, the company offers access to the greatest number of surcharge-free ATMs in the country. Credit Union 24 identified policy and procedural alternatives that eliminated much of the need to access PCI DSS “in scope” data for normal operations and still provide the highest level of service and security to its participating credit unions.
Dynamic Card Solutions has signed on Amalgamated Bank of New York to offer instant
issue unembossed MasterCard debit cards at the branch level.
Looking to eliminate the cost, risk and delay for their customers to
receive a card in the mail and to improve overall customer satisfaction
levels, the bank is rolling out DCSâ “CardWizard” software
and FCP 20/20 unembossed card printers to its branches in Manhattan.
By issuing unembossed MasterCard debit cards, Amalgamated Bank will
have the ability to offer a variety of images that cardholders can
personally select for their card background. Once the background is
selected, DCS’ CardWizard software transfers all personalization data
fully encrypted to the FCP 20/20 printer which quickly and securely
prints high-definition color onto both sides of white blank card stock
the personalized unembossed card. Amalgamated Bank is an FDIC insured commercial bank with $4.5
billion in assets.
CUSO TMG has added Oklahoma Employees Credit Union, and CA-based Eagle
Community and Orange Countyâs Credit Union to its client base and
renewed partnerships with Iowa-based Dupaco Community Credit Union and
VT-based Heritage Family and Vermont State Employees credit unions.
Oklahoma Employees Credit Union, a 41,000-member will rely on TMG for
processing services on its credit and prepaid platforms. Eagle
Community Credit Union and Orange Countyâs Credit Union, have chosen TMG
to assist in credit card re-start programs. Each had previously sold
their credit card portfolio and is now looking to launch a new, credit
Credit Union 24 ATM/POS network and Acculynk Technology have inked agreements to launch the “PaySecure” Internet PIN debit service. The service will be made available to its member credit unions in response to a Javelin Strategy & Research study concluding 78% of those surveyed agreed PIN entry on the PaySecure PIN-pad is as simple as PIN entry at the ATM/POS terminal while 48% would conduct more internet purchases if conducted through “PaySecure”. The internet PIN Debit service offers software-only service for PIN debit payments on the Internet through a graphical PIN-pad at internet merchant checkouts using no hardware devices, passwords, enrollment or website redirection. Solely devoted to credit unions, Credit Union 24 is credit union-owned providing customers locations across the country while Acculynk technology provider specializes in software-only services to promote secure online transactions.