Now In The Market
Southwest Increase Offerings
DALLAS-Despite tight liquidity in 2006 credit unions invested more than $1 billion in "special certificates" and "reverse inquiries" last year with Southwest Corporate Federal Credit Union.
The number of Southwest Corporate special certificates offered to credit unions last year rose to 63, compared to 53 offered in 2005, according to Raul Castillo, funding manager. Within the first three weeks of 2007, Southwest Corporate has offered four higher-yielding special certificates and two reverse inquiry certificates.
For info: www.swcorp.org.
MortgageClick Tests 50
WOBURN, Mass.-MortgageClick is reporting that after more than 50 credit unions took advantage of its offer to "test-drive" for free its online loan orgination platform, some 18 have now signed on as customers. MortgageClick developed the test program in conjunction with Prime Alliance, which powers the online mortgage technology solution, and Fannie Mae, whose Desktop Underwriter provides the loan approval component of the system.
The MortgageClick/Prime Alliance solution has recently been expanded to support Freddie Mac's automated underwriting system, Loan Prospector, as well. The credit unions obtaining access to the Prime Alliance technology through MortgageClick have processed more than $3 billion in loans on this platform since 2004. More than half of the participating credit unions are now from outside New England, which had been MortgageClick's primary market.
For info: www.mortgageclick.biz
Auto Club Teams with Share One
CERRITOS, Calif.-Auto Club FCU selected Share One as its new data processor. The credit union, which operates as a cashless operation, first contacted Share One in 2003 as it began its data processing review. It will move to Share One's NewSolutions product in July of this year.
"We chose NewSolutions because it is a system designed exclusively for credit unions," said CEO Bob Moreno. "Accessibility is the key to being able to serve our members. Credit cards, audio response, ACH, ATM cards, as well as strategically placed ATMs at Auto Club offices has been the key to our success." Memphis-based ShareOne is a CUSO.
For info: 800-888-0766 x116.
Fleming Speaks for Affinion Group
NORWALK, Conn.-Olympic Gold Medal Skater, ABC-TV Sports analyst and Sports Illustrated 20th Century Award winner Peggy Flemming has partnered with Affinion Group as a celebrity spokesperson for the group's HealthSaver health care discount program.