State National Boosts Surplus
FORT WORTH, Texas- State National Insurance Company (SNIC) received a $3-million contribution to surplus at the end of December 2001. Coupled with net income of $6.7 million, policyholder surplus increased to $55.7 million, the company said. Direct premiums written at SNIC grew from $172 million in 2000 to $225.3 million in 2001. The company and its affilaites wrote $645 million in direct premiums in 2001, an overall increase of 26% over 2000. For info: 800-877-4567.
ECACU Selects PSCU For Cards
ST. PETERSBURG, Fla.-Payment Systems for Credit Unions, Inc. (PSCU), the nation's largest credit union service organization (CUSO), and National City Corp., have been selected by Employee Credit Association Credit Union to manage the credit union's credit card portfolio. Under the PSCU Portfolio Solution, the Nashville, Tenn.-based Employee Credit Association CU will receive a turnkey solution provided and managed by PSCU. PSCU will coordinate the entire process, from evaluation to purchase, and maintain on-going servicing of the credit card portfolio. National City owns the credit card portfolio and markets related card enhancement services through an agent relationship with the Employees Credit Association Credit Union. For info: www.epscu.com.
TFP, Sanchez Offer Data Screen
KOKIE, Ill.-Thomson Financial Publishing (TFP), a provider of regulatory compliance solutions to financial institutions and an affiliate to The Credit Union Journal, announced an agreement with Sanchez Computer Associates Inc. to offer TFP's data screening service, FACScreenY to help address the regulatory needs of Sanchez clients. FACScreen uses TFP's FACFilterr application and enriched OFAC Entity Database. Sanchez customers may make arrangements through the Sanchez outsourcing solution, Sanchez e-PROFILE, or through their in-house solution, to supply TFP with a data file of member account information. TFP will perform the data screening and provide a detailed report of matching suspect account holder information.
For info: www.sanchez.com or www.tfp.com.
Have You Checked Logged On?
For the best online source of daily news, visit www.cujournal.com.