CO-OP FS Offers Mobile Banking
RANCHO CUCAMONGA, Calif.-CO-OP Financial Services is now offering credit unions mobile banking and contactless cards payments.
Working with mFoundry, CO-OP can provide mobile banking to members of all credit unions participating in its network without CUs having to make any changes to their host or home banking system.
CO-OP's support for contactless card processing, debuting at the GAC conference in Washington D.C., will initially support MasterCard's PayPass service for contactless debit card processing. CO-OP also plans to support other payment form factors, such as key fobs, watches, stickers, etc. that have been approved by MasterCard or Visa.
CUDL Pays Out 3% 08 Dividend
RANCHO CUCAMONGA, Calif.-CUDL, the nation's largest indirect lending company, said it is paying its 85 credit union members a 3% dividend for 2008, amounting to $1.3 million. CUDL, formerly CU Direct Lending, continued to grow its national auto lending network in 2008, signing 120 credit unions and 651 dealers.
By year end CUDL had 704 participating CUs, representing 20 million members, and 9,894 participating dealers. CUDL generated more than 560,000 auto loans at dealerships nationwide. Combined, CUDL credit unions once again ranked as the seventh largest auto lender in the country in 2008.
Teres Solutions, LSI Team Up
AUSTIN, Texas-Teres Solutions Inc. has partnered with Lending Solutions Inc. (LSI), allowing LSI loan officers to to provide 24/7 outsourced underwriting support to Teres Solutions' customers. The move will ensure loan applications are reviewed and underwritten in a timely manner. Additionally, integrating LSI's internal lending platform withTeres'SAIL platform enables the transmittal of applications directly to a CU's system.
For info: www.teressolutions.com or www.lendingsolutions.com
Mortgagebot Intro's iPhone App
MEQUON, Wis.-Mortgagebot, a provider of online, point-of-sale mortgage technology solutions, has introduced a free iPhone app for its mortgage-shopping website, Mortgage Marvel. The company reported during its first six weeks on the market the app saw 30,000 rate searches. The app provides iPhone and iPod Touch users mobile access to real-time mortgage quotes from a nationwide network of banks and CUs seeking mortgage business.
For info: www.mortgagebot.com
