Two More Portfolios Are Sold
ATLANTA-InfiCorp Holdings, Inc. has purchased the credit card portfolios of the $123-million Houston Postal Credit Union, and the $88-million Hoodview FCU, Killeen, Texas. Both have also entered into long-term lending alliance agreements with InfiCorp for the marketing of credit card products to their members.
For info: www.inficorp.com or 404.965.6040.
CU Marketing University To Open
TEMPE, Ariz.-Credit Union Marketing University will open its doors in February 2004 as what is being billed as the "only interactive academic program for credit union marketing professionals." The University was created by LEMMON-AID Marketing Services and LemmonTree Consulting Group, with an advisory group that included university professionals and credit union industry executives.
"The program provides students the opportunity to study strategic marketing planning and master the financial tools used to guarantee marketing success that can be measured in dollars," the company said. The four and a half-day program will be offered twice, Feb. 2-6, 2004 and Sept. 27-October 1, 2004. Graduates may earn 3.4 continuing education units from Arizona State University. The curriculum will also require completion of a project that includes the creation of a loan promotion plan students will present to a credit union CEO.
For more information: www.lemmontree.com or 888.536.6243.
Empire Intros Products For CUSOs
ALBANY, N.Y.-Empire Corporate FCU has launched a line of loan products it says are specifically designed to assist Credit Union Service Organizations (CUSOs) with their capital needs. Those products include an advised line of credit, a term line of credit, a warehouse line of credit, commercial real estate loans, and letters of credit.
The Corporate's primary goal is to provide liquidity to credit union system entities, and these products offer another opportunity to fulfill that goal.
"Due to the relationship CUSOs have with their parent credit union, this 'outside' source of funding allows the CUSO to better leverage their balance sheet, and the credit union to structure their capital and sources of funding effectively," said Kevin A. Bauer, Empire's COO. Empire recently provided, Mortgage Markets CUSO, LLC-a wholly-owned subsidiary of First New England FCU-with a $2 million warehouse line of credit.
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