Genisys Installs Envelope-Free ATMs
AUBURN HILLS, Mich.-Genisys CU here has installed 11 new Diebold Deposit Automation ATMs, allowing members to deposit checks and cash without an envelope.
The machines, which are also faster than the ATMs they replaced, can accept up to 30 different dollar bills of various denominations, and have user-friendly instructions, graphics and touch screens. Voice guidance is also available via a headset for users who need it.
Elevations In EnergySmart Program
BOULDER, Colo.-Elevations CU here has been selected to enter into a joint agreement to administer the new EnergySmart loan program to make energy-efficiency upgrade loans available to residents, businesses and commercial property owners in Boulder County and Denver. The program is a partnership between Elevations, EnergySmart and the Denver Energy Challenge, which
More info: www.energysmartyes.com/loan
Sparty Featured On New Card
EAST LANSING, Mich.-Michigan State University FCU has released its new Spartan Debit Card, emblazoned with the school's mascot, Sparty. The CU celebrated the card's debut by selecting one member at each of its branches to win a Sparty Gift Pack, including an MSU backpack, Spartan winter hat and Sparty memorabilia, which includes a mug, stuffed doll, window decal and more. The gift packs were valued at $200.
Checking Volume Increases By 50%
WALL, N.J.-First Financial FCU here increased its month-over-month checking penetration by 50% by running a promotion offering consumers the chance to win a new iPad 2.
As a way to celebrate its 75th anniversary, First Financial ran a two-month promotion in to entice members and non-members to sign up for free checking for the chance to win the prize. First Financial FCU said it opened 156 new checking accounts in two months as a result, an increase over the average of 100-115 during a typical three month period.
Program Comes To Aid of Charities
LOUISVILLE, Kent.-Park Community FCU has partnered with Kosair Charities and the Kentucky Humane Society to help benefit the two charities. For $5, PCFCU members can request a new debit card associated with the Park Community checking account and the funds will be donated to Kosair Charities or the Kentucky Humane Society.
Park Community FCU held a kick-off celebration to launch the new project, which included information about all three organizations, snacks, entertainment and the chance for members and non-members to play with puppies and kittens from the Humane Society.
'Coindexter' Debuts At Georgia' Own
ATLANTA-Georgia's Own CU here has launched Coindexter (Coindexter.com), a program from Applause Learning that works to teach financial literacy to children ages 12 and younger. Coindexter immerses children in a virtual world ("Econopolis") where they earn, save, spend, and manage and invest money.
Coindexter places the sponsoring CU's building on the site with its name above the front entrance, and children's avatars can "virtually" enter the building to do their virtual banking. Participants even utilize deposit and withdrawal slips, checks and more.
More info: www.coindexter.com.
San Jose CU, Planning Firm Partner
SAN JOSE, Calif.-San Jose CU here has partnered with CU Financial Partners to provide financial and investment planning services to members. CU Financial Partners offers a services such as retirement planning, insurance, investments and member education, and initial consultations are free for members. CUFP representatives will meet with members at branch offices or at the member's home. Monthly member seminars are also sponsored.
CU Financial Partners, LLC is a branch of Foothill Securities, Inc. San Jose CU serves more than 12,000 members with more than $130 million in assets.
GROTON, Conn.-Members at Charter Oak FCU here can now apply for FHA mortgages up to 96.5% of the home's value on purchases and 97.75% LTV for refis with 15- to 30-year terms. COFCU touts itself as "Eastern Connecticut's #1 Mortgage Lender," and its fixed-rate loans are available for owner-occupied, 1-4 family homes in New London or Windham Counties.
CEO Brian Orenstein said Charter Oak added FHA loans in order to make home-ownership more accessible to a greater percentage of its overall membership. The credit union is also now an approved SBA lender, offering SBA 7a, 504 and Express loans to business owners in New London and Windham Counties.
Charter Oak serves more than 66,000 members with $702 million in assets. As of its December 2011 Call Report, the CU had approximately 4,400 mortgages and real estate loans on its books, totaling about $400 million.
LINTHICUM, Md.-To spur home sales and assist borrowers with down payments and closing costs, SECU here is offering up to $7,500 in matching funds to first-time homebuyers. The offer is part of two programs the CU is offering in partnership with the Federal Home Loan Bank for purchases or renovations on existing homes.
Borrowers must come up with a minimum of $1,000, and the FHLB will match that amount up to four times, for a maximum grant of $7,500. The program is available to any SECU member in Maryland, Washington D.C. or Virginia with income of less than 80% of the HUD Median Income, adjusted for family size.
SECU members do not have to repay the matching funds as long as they stay in the home for at least five years.
ALEXANDRIA, Va.-Pentagon FCU has introduced its PenFed Platinum Rewards Visa card. Cardholders can earn as much as five points per dollar spent on gasoline purchases, three points per dollar spent on groceries and one point per dollar on all other purchases. Those points can be redeemed for travel, gift cards, merchandise or Visa prepaid cards.
The card has a variable 9.99% APR capped on all new purchases through the end of June 2014, along with no annual or foreign transaction fees. New cardholders can earn 25,000 points in the first three months: users receive 5,000 points for their first purchase, and 20,000 additional points if they spend $1,000 during the first three months.
WEST LAFAYETTE, Ind.-Purdue FCU here is offering $avers and $ense Club accounts as a way to teach children to save. For each deposit of $5 or more through April 30, accountholders receive one entry into a drawing for a $100 back-to-school shopping spree (limit one entry per day). Eight winners will be selected to go shopping with Purdue Federal's CEO Bob Falk with a $100 Visa gift card to purchase school supplies.
WEST LAFAYETTE, Ind.-Purdue FCU here held a Super Saver contest for kids as a way to team them the power of saving money.
Kids between ages 5 and 14 years old can open a $avers & $ense Club account, and for every deposit of $5 or more the accountholder receives one entry into a drawing for a $100 back-to-school shopping spree. Eight winners will be drawn at a later date to receive $100 Visa gift cards and the chance to go shopping with PFCU CEO Bob Falk for back-to-school supplies.
Purdue FCU serves more than 60,000 members with nearly $700 million in assets.
BATON ROUGE, La.-Neighbors FCU has launched "Your Portfolio," a new personal financial management tool that can be accessed through the CU's online banking portal.
The CU chose Geezeo (www.geezeo.com) to launch the PFM solution. Geezeo is a financial technology firm offering financial management tools, social networking and web-based marketing platforms for FIs.
Neighbors members can use "Your Portfolio" to view accounts from multiple institutions to provide a comprehensive view of assets with multiple tools to help track expenses, bills and budgeting.
Neighbors FCU serves more than 58,000 members and has more than $500 million in assets.
BIRMINGHAM, Ala.-Alabama Telco CU has launched a new business services program to help members that are small business owners and professionals.
Targeting small businesses, the program offers competitive rates and products such as business checking accounts, savings, money markets, CDs, loans, lines of credit and more. The CU has also partnered with First Data to provide merchant services, including point-of-sale payment solutions, terminals, loyalty programs, payroll cards and more.
Alabama Telco's Business Choice Checking Account offering includes a free debit card and a choice of features, including ATM refunds, free wire transfers, free cashier's checks, the option to earn interest on the account and more. Participating businesses also receive online banking, online bill pay, telephone banking and free online statements.
DENVER-Bellco CU has unveiled a new look for its Visa Platinum Rewards Card, along with a new rewards program.
The new-look card-featuring outdoor images courtesy of local Colorado photographers-offers triple ScoreCard Bonus Points for purchases made on sporting goods, recreation, fitness and more. Double points are available for recurring expenses such as gas purchases or cell phone and Internet bills. Cardholders can register online to review their reward accounts and track accumulated points.
The photos on the card and the rewards structure were designed to celebrate Coloradans' active lifestyles. Three different images are available: moonrise at Denver International Airport, Bear Lake in Rocky Mountain National Park and fall colors at an Aspen grove. The images were selected from more than 135 submissions as part of Bellco's "Uniquely Colorado" photo contest and can be viewed in the "photos" section on the credit union's Facebook page.
ST. PETERSBURG, Fla.-The CU Association of New Mexico has partnered with PSCU here to offer a new reloadable Visa card for teen credit union members.
The card is available through the "Claim Your Youth" marketing initiative from CUANM, and is designed to improve teen budgeting, money management and credit responsibility. Teens can control their own spending habits with the card, while parents can use their computer to load funds onto the card, as well as track purchases, receive card balances and other information via text messages.
In addition to "Claim Your Youth," CUANM offers other programs for young CU members, including the Kirby Kangaroo Club, the CU Succeed Network and the CU Thru financial literacy online program. For info: www.cusucceed.net.
FAIRHAVEN, Mass.-The $575-million First Citizens' FCU has been named an authorized SBA Lender by the U.S. Small Business Administration, with the ability to underwrite commercial loans using SBAExpress and SBA Patriot Express loan programs.
Both products streamline small business loan requests, start-up operations, working capital and more. SBAExpress is designed to provide businesses with a faster turnaround time on loans, and SBA Patriot is aimed at veterans and military members looking to establish or expand small businesses. Both programs accompany the full complement of SBA loan opportunities currently available.
WALNUT CREEK, Calif.-Pacific Service CU has launched a "Loan Saver" service to help savvy borrowers determine if refinancing will be beneficial for them.
The service is available for free on PSCU's website and the loan calculator can be used by both members and non-members. Would-be borrowers do not have to disclose contact information to get results
Loan Saver can be used to calculate savings on car loans, home equity, mortgages, credit cards, personal loans and more. The site makes calculations based on the CU's current rates; users can estimate whether their credit is excellent, good, fair or poor and the site makes adjustments to its base rates.
More info: www.pacificservice.org/loansaver
MEDFORD, N.Y.-Suffolk FCU now offers Remote Deposit Capture for business checking account holders. Deposits can be made 24 hours a day from a personal computer, and all deposits made by 3:00 p.m. on regular business days will be credited that day. Deposits made after that time will be credited to accounts on the following business day.
PORTSMOUTH, N.H.-Service CU now offers the girocard, a German debit card that is available at all branches on military installations in Germany, and direct deposit or allotment are no longer required to receive the girocard.
girocard is widely accepted by vendors in Germany and transacts purchases in Euros (interchange fees apply); the card also contains chip and PIN technology which is safer than magnetic stripe technology used on most American cards.
Service CU was the first American FI in Germany to introduce chip and PIN and offer the girocard.
BELLEVUE, Neb.-SAC FCU now offers the "Baby Bundle Savings Plan," a certificate product encouraging parents to save for their children's future. Baby Bundle allows parents, friends and family members to add deposits throughout the term of the certificate. Terms of one and two years are available, and SAC FCU contributes $25 to each one-year term and $50 for each two-year term that reaches maturity.
Baby Bundle accounts are available to children during their first year and can remain open and growing throughout the child's lifetime. Additionally, SAC FCU presents each accountholder with a special Baby Bundle gift pack that includes a Baby Bundle onesie, pacifier and piggy bank.
