LSI Hits 10,000 Loan Application
ELGIN, Ill.-Lending Solutions Inc. (LSI) announced that it has processed its 10,000th first mortgage loan application for 2007.
In other developments, LSI announced it was named the largest call center provider in terms of market share within the credit union space, according to Callahan and Associates' 2007 Credit Union Technology Survey.
LSI was listed in Callahan's survey as serving almost 37% of CUs with assets of more than $25 million using an outsourced call center arrangement, compared to its nearest competitor at 23 percent.
The 2007 data signifies a nearly 5% growth in market share for Lending Solutions from Callahan's 2006 statistics. The survey also acknowledged LSI served approximately 255 credit unions with assets totaling more than $89 million in 2007.
For info: www.lendingsolutions.com.
Cypress Software Unveils CPS
NORTH RICHLAND HILLS, Texas-Cypress Software Systems, LP today introduced the Cypress Professional Services Division (CPS), a group designed to help credit unions and other financial institutions optimize their lending operations and deploy technology best practices for Cypress' Mark IV and BizMark automated credit decisioning software.
The CPS Division will provide five initial service products to assist financial institutions, and will introduce additional offerings in the coming months. The preliminary services include: strategic configuration assessment, technology assessment, process improvement GAP analysis, decision process optimization, integration and customization.
For info: www.go-cypress.com.
CUBC Signs Two CU Clients
MIRAMAR, Fla.-CU Business Capital, LLC and Postilion signed two new CUs clients: PARDA FCU based in Rochester, Michigan, and TEG FCU based in Poughkeepsie, N.Y.
Postilion and CU Business Capital together provide a complete business services program to help credit unions expand membership and asset growth with solutions like Postilion's online Member Business Services solution, and CUBC's remote deposit capture.
Postilion provides credit unions a comprehensive member business services solution through the Internet, that businesses can utilize to manage their cash flow online, including bill payment, ACH origination and receipts, payroll services, wire transfers and funds transfers.
For info: www.cubusinesscapital.com.
XpressCredit Takes Two
WASHINGTON-NAFCU Services Corporation's Preferred Partner, XpressCredit, announced that it signed two clients for its turn-down lending platform: Remington FCU and Syracuse FCU.
The online lending platform helps members who may not qualify for a car loan at their CU. When a member is turned down for a loan via the CU's usual process, the loan manager logs into the credit union's secure account. After entering the member's information, a decision is returned within minutes. On approval, the member receives a personalized check that may be taken to the dealership of his or her choice. The loan does not take effect until the check is signed.
For info: www.xpresscredit.net.
