Product & Service
CUVA Adds Cartoons To Resource
LAKEWOOD, N.J.-CUVA has added cartoons to the material it is making available to credit unions for use in member newsletters. Credit unions that subscribe to www.cunewsletterreference.com get articles, quotes, jokes, brainteasers and other content in addition to the new cartoon, a new one of which will be available each month.
For more info: www.cunewsletterreference.com.
Pentagon FCU Selects Enterprise
ALEXANDRIA, Va.-Pentagon Federal Credit Union has selected Enterprise Car Sales, a division of Enterprise Rent-A-Car, to develop a comprehensive auto sales program for its one-million members. The arrangement will provide members with access to 120 makes and models of late-model, certified automobiles. Pentagon members will also be able to locate Enterprise used vehicles nationwide by accessing a co-branded, private label website linked to Pentagon's own site at www.penfed.org.
For more info: www.enterprise.com-perfectpartnership or 1-866-car-sales.
New Horizon CU Adds Mortgages
FORT WORTH, Texas-CU Members Mortgage, a division of Colonial Savings, has signed an agreement with New Horizon Credit Union in Manassas, Va., to provide residential home loan services to the CU's 5,200 members. The deal will give New Horizon members access to more than 150 different loan programs at the online service hombancu.com.
For info: www.homeloancu.com or www.newhorizoncu.org.
PSCU Helps CUs Cut Delinquency
ST. PETERSBURG, Fla.-PSCU Financial Services' said its Collection Service is enabling its member-owners to enjoy some of the lowest credit card delinquency rates in the industry.
"Credit unions that subscribe to this service have an average 60 days through charge-off delinquency rate of just 1.75%, as compared to the credit union industry average of 2%," the company said. "The differential of 25 basis points is very significant because it represents more than $765,000 in non-delinquent monthly balances for the $306 million in outstanding balances that our Collection Service manages." PSCUFS said the Collection Service has a 93.6% cure rate, which means that of every $100 in delinquent balances, $93.60 is cured before becoming four cycles delinquent.