Thousands Of Members Could Get Settlement
BAKERSFIELD, Calif.- Thousands of members of Kern Schools FCU may be entitled to refunds on fees for late car loan payments under the settlement of a class action suit announced last week.
Under the settlement, the credit union will pay members William and Cindi Aseltine, the lead plaintiffs in the suit, $10,000 and manually recalculate payment histories of thousands of other members, contact them and refund overcharges.
As many as 10,000 members who bought cars through the credit union may be eligible.
Navy Fed Launches Plan To Register Voters
VIENNA, Va.-Navy FederalCredit Union has begun a campaign to register thousands of its overseas members to vote this fall.
Working with HelpingAmericans Vote.org., an online service aimed at expanding voter participation, the credit union established a link to its website that provides voter information in all 50 states.
Members can use the link to access voter registrars in various states and obtain early or absentee (mail-in) ballots.
"We're providing our members easy access to voting information so they can help ensure their voice is heard," said Brian McDonnell, president of Navy Fed.
Navy Federal has more than 100,000 members with foreign addresses and tens of thousands more who are deployed temporarily overseas for combat.
Jack Henry Acquires 2 Cos.
MONETT, Mo.-Jack Henry & Associates said last week it has agreed to acquire two companies, Select Payment Processing, Inc., a privately held provider of electronic check processing solutions, and Banc Insurance Service, Inc., a provider of turnkey insurance services for credit unions and community banks. Select Payment, based in Dallas, provides a fully integrated, web-based electronic check processing system that converts paper checks into electronic checks, then processes them. Banc Insurance Service is based in Holyoke, Mass., and acts as a turnkey insurance agency for 15 financial institutions, including Philadelphia FCU and Mountain America FCU. Terms of the two deals were not disclosed.
FOM Change Leads To Ads
WEATHERSFIELD, Ct.-Dutch Point CU has hired Boston ad agency Cashman & Katz Integrated Communications to design a marketing and public relations campaign publicizing the credit union's conversion from a multiple group to community-based charter. One of the aims of the campaign is to broaden the credit union's appeal to adults between 25 to 54. The $150-million credit union has branches in Berlin and Waterford, Conn.
'Better Banking' At CU
PORTLAND, Me.-With a full-range of convenient and fairly priced financial services, area consumers can do "Better Banking" at their credit union, Town & Country FCU. The $115-million credit union's new tagline was developed as part of a branding campaign designed by Synergent, a subsidiary of the Maine CU League. Synergent developed the credit union's new brochure line, account opening package, newsletter layout and annual report. The credit union, which has evolved through 10 mergers since 1986, considered changing its name but decided to retain the old one, which was well-known in the community and is identified by consumers with quality financial services.
2 Deere CUs Finish Merger
WATERLOO, Iowa-John Deere Community CU said it has completed its merger with Deere Community CU in nearby Ankeny, creating the state's largest credit union, with $1 billion in assets and 120,000 members.
The new credit union, which will be the state's fifth largest financial institution, will employ 400 people and serve residents in 26 of the state's counties through 16 branches. Plans include the opening of two new branches in the Des Moines area.
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