ING Direct Launches Mutual Funds
WILMINGTON, Del.-ING Direct Securities Inc. launched six no-load mutual funds recently. The new funds include three asset allocation funds, a money market fund a global real estate fund and a global equity divided fund. The new funds will be offered through the Orange Investment Account.
ING Direct has more than 4.5 million customers that hold $62 billion in assets.
The Year Of The Check Image
MINNEAPOLIS-U.S. Bancorp is looking to 2007 as the year to process check images in all areas of the company and also hopes to clear the majority of checks by the end of the year.
Company officials say imaging technology will aid corporate banking operations by offering customers a fuller picture of their balances. Retail customers are expected to benefit from faster availability of funds and better security.
Wachovia Adopts Equator Principles
CHARLOTTE, N.C.-Wachovia Corp became the latest company to adopt the Equator Principles and plans to reduce its carbon dioxide emissions by 10% by the year 2010. The $698-million banking giant said it will accomplish the goal by improving energy efficiency at existing offices and using environmentally friendly standards and practices for future projects.
Among the concepts of Equator Principles, banks would be required to review loans of $10 million or higher for environmental compliance. Wachovia also adopted a policy of not financing logging operations in primarily tropical forests or endangered areas.
Prosperity Bank Teams With AARP
HOUSTON-Prosperity Bank here has teamed with AARP to help elderly customers manage their checking accounts and even to help them write checks.
AARP has volunteers working with non-profits and government agencies to fight the increasing number of crimes against the elderly.
Banks such as Prosperity have been referring senior citizens to the AARP for help, opening special accounts that agencies can monitor for fraud and also providing financial support through donations. Prosperity Bank donates $3,500 each year.
Blue Cross Blue Shield Opens Thrift
WASHINGTON-The Blue Cross Blue Shield Association recently dropped plans to charter an industrial loan company and instead is opening a federal thrift.
Blue HealthCare Bank of Sandy, Utah will offer health savings accounts to the insurer's customers while the thrift will initially focus on insurance plans in Arkansas, Idaho, South Carolina and Michigan. The thrift will be capitalized at $70 billion and will also offer check, debit card and online bill payment services.
Cell Phone Banking Launched
CHARLOTTE, N.C.-Bank of America is launching a mobile telephone banking service that allows customers to make online payments with any electronic device that can access the Internet.
Customers will also be able to view account balances, transaction histories and shifting cash from one account to another. BofA will start the plan in Tennessee and expand to other states during 2007.
IT Sports Net, NXGEN Join Forces
CALGARY-ITSportsNet, which specializes in registration, league management, website, and communication solutions for sports organizations, and NXGEN Canada announced an agreement that will extend secure, fast and cost effective on-line payment options to sports clubs and leagues in Canada.
More than 2,300 sports clubs, leagues, and governing bodies use ITSportsNet to build their organizations. Over 100,000 players are registered with ITSportsNet.
For info: www.itsportsnet.com.
