CUs Online Experience Called More Satisfying
NEW YORK-A new consumer satisfaction released last week finds credit unions provide the most satisfying online banking experience. The survey, conducted by ForeSee Results, found that credit unions have a total satisfaction score of 84, while the biggest five banks provide the least satisfying experience, but still have an average score of 80 out of 100, which is considered high. The big five's lower scores are attributed to the disruption in service caused by the continuing consolidation of the big banks, and a lower trust factor tied to their exposure to the Wall Street crisis. The survey found that online banking satisfaction declined from last year, but continues to outpace satisfaction for customer service in general. It also found that increasing the convenience of online banking, the simplicity of the website and the usefulness of the website will provide the greatest return on investment. Another key finding was that penetration of mobile banking is still relatively low.
Deadline Is July 9 For $12M In IRS Grants
WASHINGTON-Credit unions have until July 9 to apply for nearly $12 million in Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) grants from the IRS. The grants enable CUs to offer free tax-preparation for underserved people in hard-to-reach areas, and also fund training and technical assistance for volunteers who provide free Federal income tax preparation assistance in elderly communities. For more info: www.irs.gov, Publication 467, or www.ncua.gov/Resources/CreditUnionDevelopment/Finance.aspx
UNFCU First With EMV Card
NEW YORK-Despite opposition by many U.S. card issuers and networks to EMV Integrated Circuit Card Specifications, the security format has become the dominant payment-card format abroad and last week United Nations FCU was expected to becom the first U.S. institution offer an EMV credit card. Such cards have embedded microchips and can be used with a PIN to authenticate transactions at the point of sale; the PIN data is stored on the chip. The credit union said EMV cards are a good fit for its members, who often travel abroad, and observers predicted that more U.S. financial companies are likely to follow suit. UNFCU has 88,000 members.
DSA Winners Announced
MADISON, Wis.-The Credit Union Executives Society (CUES) and Harriet May, president and CEO of GECU in El Paso, Texas, were named last week as winners of the World Council of Credit Unions' (WOCCU) Distinguished Service Award (DSA) for 2010. The pair of winners will join Lech Kaczyski, the late president of Poland whose DSA honor was announced last month, and will be recognized during a special ceremony at The 1 Credit Union Conference, scheduled for July 11-14 in Las Vegas. May, nominated by the Texas Credit Union League and winner of the DSA individual award, was originally scheduled to be honored during WOCCU's 2009 World Credit Union Conference in Barcelona, Spain, but was unable to attend. The WOCCU board voted to approve her award as part of the 2010 event. CUES, the 2010 institutional honoree, is being recognized for financially supporting WOCCU's development and relief initiatives for two decades.
Free ATM Locator Debuts
PALO ALTO, Calif.-Addison Avenue FCU has introduced a free visual ATM locator channel on metaio's 2.0 augmented reality platform. Accessible via metaio's junaio application on the iPhone 3GS platform, the ATM locator channel visually shows users where all ATMs are in a several-mile radius on their phone to take the hassle out of finding an ATM when it is needed fast anywhere across the U.S.
CUs' Online Experience Called More Satisfying
NEW YORK-A new consumer satisfaction released last week finds credit unions provide the most satisfying online banking experience. The survey, conducted by ForeSee Results, found that credit unions have a total satisfaction score of 84, while the biggest five banks provide the least satisfying experience, but still have an average score of 80 out of 100, which is considered high. The big five's lower scores are attributed to the disruption in service caused by the continuing consolidation of the big banks, and a lower trust factor tied to their exposure to the Wall Street crisis. The survey found that online banking satisfaction declined from last year, but continues to outpace satisfaction for customer service in general. It also found that increasing the convenience of online banking, the simplicity of the website and the usefulness of the website will provide the greatest return on investment. Another key finding was that penetration of mobile banking is still relatively low.
Deadline Is July 9 For $12M In IRS Grants
WASHINGTON-Credit unions have until July 9 to apply for nearly $12 million in Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) grants from the IRS. The grants enable CUs to offer free tax-preparation for underserved people in hard-to-reach areas, and also fund training and technical assistance for volunteers who provide free Federal income tax preparation assistance in elderly communities. For more info: www.irs.gov, Publication 467, or www.ncua.gov/Resources/CreditUnionDevelopment/Finance.aspx
UNFCU First With EMV Card
NEW YORK-Despite opposition by many U.S. card issuers and networks to EMV Integrated Circuit Card Specifications, the security format has become the dominant payment-card format abroad and last week United Nations FCU was expected to becom the first U.S. institution offer an EMV credit card. Such cards have embedded microchips and can be used with a PIN to authenticate transactions at the point of sale; the PIN data is stored on the chip. The credit union said EMV cards are a good fit for its members, who often travel abroad, and observers predicted that more U.S. financial companies are likely to follow suit. UNFCU has 88,000 members.
DSA Winners Announced
MADISON, Wis.-The Credit Union Executives Society (CUES) and Harriet May, president and CEO of GECU in El Paso, Texas, were named last week as winners of the World Council of Credit Unions' (WOCCU) Distinguished Service Award (DSA) for 2010. The pair of winners will join Lech Kaczyski, the late president of Poland whose DSA honor was announced last month, and will be recognized during a special ceremony at The 1 Credit Union Conference, scheduled for July 11-14 in Las Vegas. May, nominated by the Texas Credit Union League and winner of the DSA individual award, was originally scheduled to be honored during WOCCU's 2009 World Credit Union Conference in Barcelona, Spain, but was unable to attend. The WOCCU board voted to approve her award as part of the 2010 event. CUES, the 2010 institutional honoree, is being recognized for financially supporting WOCCU's development and relief initiatives for two decades.
Free ATM Locator Debuts
PALO ALTO, Calif.-Addison Avenue FCU has introduced a free visual ATM locator channel on metaio's 2.0 augmented reality platform. Accessible via metaio's junaio application on the iPhone 3GS platform, the ATM locator channel visually shows users where all ATMs are in a several-mile radius on their phone to take the hassle out of finding an ATM when it is needed fast anywhere across the U.S.
TruMark Launches Media Bid
TREVOSE, Penn.-Fast-growing TruMark Financial CU is rolling out a nine-week radio and TV branding campaign, along with outdoor media.
As part of the campaign, with the tagline "Your Trust Matters," the $1.3-billion CU has created a special "landing page" at www.trumark.com that contains links to an online membership application, current promotions, branch locations, information on why credit unions are better and videos of the commercials.
