Poduct & Service
Growth Cited Following Sale To TNB
DALLAS-In the two years since Lapeer County Community Credit Union sold the card portfolio to TNB Card Services, LCCU is reporting that the portfolio has grown in both size and strength. Since acquisition, the credit union has begun offering low-rate rebate programs, Platinum cards, cash-back and bonus offers, and a wide range of credit card options. Aggregate balances on those accounts have increased by 18%. Overall, 80% of all transactions come from the low-risk accounts, overall yields have increased, and the overall risk of the portfolio has been improved to an average weighted FICO score to 692.
For info: www.tnbcard.com.
Six CUs Move To CU National
PINE BROOK, N.J.-Seaboard Credit Union of Jacksonville, Fla. has signed a full service agreement with CU National Mortgage, as have five New Jersey-based CUs: ACUME FCU; Aluminum Shapes Employees FCU; Local 1360 UFCW FCU; New Jersey Suburban FCU, and Garden State FCU. The deal will give members the ability to get approvals online.
For info: www.cunational.com.
APPRO Sets New Record
BATON ROUGE, La.-APPRO Systems, Inc. recently reported breaking its own single quarter implementation record with an increase of 15 to 18 installations, a 20% increase for first quarter 2005. Appro Systems' software automates the entire loan application process.
For info: www.approsystems.com.
Corp. One To Host ALM Conference
COLUMBUS, Ohio-Corporate One FCU will hold its third annual Asset/Liability Management Conference here Oct. 12 to 13. The keynote speaker will be Dr. Dale Henry of Your Best Unlimited, Inc.
Other featured speakers are: Alonzo A. Swann III of NCUA; Brian Cote of Chinatrust Bank US; Karen Genneken of Charlie Mac, and Joseph A. LaVorgna of Deutsche Bank Securities. The conference is designed for CFOs and CEO/managers of all levels of experience.
For info: 614-414-5000 or www.corpone.org.