Pinnacle Financial Creates Unit
HOUSTON-Pinnacle Financial Strategies has formed Pinnacle Performance Strategies (PPS) as a wholly owned subsidiary the company said will offer revenue-enhancement consulting services and data collection and analysis tools to identify maximum potential return for banks and credit unions. PPS launched its first product, Fulcrum by Pinnacle, in January. To lead the new subsidiary, Steven T. Royal has joined Pinnacle as president of PPS.
CD-ROM Offers 401(k) Education
MADISON, Wis.-CUNA Mutual Group has developed an interactive CD-ROM designed to help pension plan administrators educate employees about their 401(k) investment options and enrollment processes. The company said employees can view the step-by-step, self-paced CD-ROM at work, or on their home computers. Copies of the "Enrolling in Your Retirement Savings Plan" CD-ROM were sent late in 2002 to each of the more than 5,000 CUs that participate in CUNA Mutual-sponsored retirement programs. The CD-ROM provides an overview of the many 401(k) investment options and can link the credit union employee to the CUNA Mutual Pensions website, www.pensions.cunamutual.com, to access planning calculators, additional educational information and forms. Info: www.cunamutual.com.
InfiCorp Buys 6 More Portfolios
ATLANTA-InfiCorp Holdings, Inc., said it has purchased the credit card portfolios of six more credit unions. The portfolios, which total $31 million in loans, were bought from: Capital Community Credit Union, Lansing, Mich.; Atlantic Regional FCU, Brunswick, Maine; Idaho State University FCU; Pocatello, Colorado Springs Credit Union, Colorado; Silicon Valley CU, Palo Alto, Calif., and Northrop Grumman FCU, Gardena, Calif. All six CUs signed long-term credit card lending alliances with InfiCorp to market credit union branded credit card products to members and potential members. For info: 404.965.6040.