CO-OP, CU24 Into Walgreens
RANCHO CUCAMONGA, Calif.–CO-OP Financial Services announced an expansion of its ATM network to include 631 ATMs in Florida Walgreens pharmacies. Under the deal, Walgreens ATMs will be stickered with the CO-OP logo over the next 30 to 60 days. The machines are also branded by the Credit Union 24 network. The deal follows a December agreement to brand 321 ATMs in Costco wholesale warehouses with the credit union-owned CO-OP name. The ATMs in Walgreens and Costco locations are owned by Cardtronics, which also provides ATM access for CO-OP members at more than 5,200 7-Eleven convenience stores. The Walgreens deal is the fifth retail partnership for CO-OP in the last five years, including Costco, 7-Eleven, Publix supermarkets and Cumberland Farms convenience stores.
Residual Values On Hybrids
SAN DIEGO–Credit Union Leasing of America has released the residual values for hybrid vehicles on CULA consumer leases, commercial leases, and consumer balloon loans. CULA said it has delayed leasing hybrid vehicles until resale values were known. All 2007 and 2008 hybrid vehicle makes and models will be available on CULA’s three alternative finance programs for both indirect and direct lending markets.
For info: 800-878-5400, ext, 302, or www.cula.com
Teres Solutions Is Growing
AUSTIN, Texas–Teres Solutions, a provider of direct and indirect lending software, reported that it added 27 new credit union and financial institution customers during 2007, representing a 25% growth rate in customers for the year. Together, Teres Solutions customers generated nearly $44 billion in loan volume in 2007 alone. In addition to its client base growth, last year Teres Solutions doubled its workforce and relocated its headquarters to a new 15,000-square-foot office.
Its SAIL software solution supports multiple loan types, including home equity, share and CD secured, credit card, personal, balloon loans, car, boat and motorcycle, is integrated and offers real time reporting.
For info: www.teressolutions.com.
