Chartway To Offer Help To Any Victims Of Storm
VIRGINIA BEACH, Va.–Chartway FCU last week said it was relaxing some loan app standards for any members affected by the heavy storms that hit the region last week.
“We understand that cash flow is imperative for victims at a time like this, and sometimes federal funding just doesn’t come fast enough,” said Chartway CEO Ron Burniske. CFCU evaluates each loan request on a case-by-case basis, and will be especially flexible on the dollar amount, term, and payment due date of those loans. It is also offering the option of waiving initial loan payments without a penalty fee while waiting for federal funding and insurance checks to come in.
Start-Up Will Be NJ’s 1st New Charter In 11 Years
HACKENSACK, N.J.–A new community development credit union in the works here would be the first new credit union chartered in the state, according to the New Jersey league.
Bergen County Community Action Partnership has been working with the New Jersey CU League to charter a credit union to be called 1st Bergen FCU that will serve low- and moderate-income communities.
OnPoint Launches Credit Cards
PORTLAND, Ore.–OnPoint CU, Oregon’s largest credit union, announced it is introducing its own credit card program.
“Credit is a natural complement to our other lending products, led by our robust auto financing business,” said Robert Stuart, president of the $2.6- billion credit union. “We feel the timing is right to enter this market with member-friendly card products that will deepen our member relationships.”
In conjunction with the new cards program, OnPoint signed a multi-year contract with PSCU Financial Services to process transactions. The credit union will launch its credit card program, including PSCU’s CURewards program, this fall.
SECU Raises $1.8M In Youth Savings
RALEIGH, N.C.–State Employees CU opened 600 new accounts and attracted $1.8 million in new deposits during this year’s National CU Youth Week.
Participants in the credit union’s “Fat Cat” and “Zard” youth programs were given the chance to win an extra deposit from $50 to $100 in a random drawing.
The credit union promoted its program heavily, with school visits by SECU’s youth mascot Fat Cat, appreciation days for youth members and educational workshops at local schools.
The Fat Cat program is designed for children under 12, while the Zard program is for teenagers between 13 and 19. Both programs, as well as an “Off To College-Off To Work” program for ages 18 to 25, complete a three-part youth life stages program designed to educate young people on financial topics and assist parents in teaching their children the value of saving and managing money wisely. Currently, there are over 180,000 members in the combined SECU youth programs.
Fiserv Soars After CheckFree Deal
BROOKFIELD, Wis.–Fiserv, which recently completed the acquisition of electronic payments giant CheckFree, last week said first quarter earnings almost tripled to $329 million.
Total revenues surged 39% to $1.31 billion as the credit union and bank outsourcer completed the integration of CheckFree. The CheckFree purchase took on added significance yesterday, when Fiserv announced an extension of a contract with Bank of America to buy online services from CheckFree. The contract was extended through 2013.
During the first quarter, Fiserv signed 141 new electronic bill payment customers and made significant progress toward integrating CheckFree’s bill payment product with its core processing systems.
Fiserv acquired CheckFree last year for $48 a share, or $4.2 billion.
