Product & Service
Credit Union 24 Pays Out $2M
TALLAHASSEE, Fla.-Credit Union 24 has paid its network-participating credit unions more than $2 million from October 2003 to May 2004 as part of its POS Platinum Rewards Program-a system it says is designed to reward credit unions for their overall relationship with CU24 and their POS transaction volumes in particular.
"Our POS Platinum Rewards Program serves two purposes," said Jim Park, CU24's president and CEO. "It works as an incentive for our credit union Network Participants to route the CU24 Network for ATM and POS transactions, and also rewards our Network Participants for their patronage and commitment."
Rewards are paid based on the Network Participant's total monthly, Credit Union 24-approved POS transactions. The more combined ATM and POS transactions processed through the Network, the greater the reward.
AAFCU, Enterprise To Partner
DALLAS-American Airlines Federal Credit Union said it will partner with Enterprise Car Sales, a division of Enterprise Rent-A-Car, to create a comprehensive car sales program for members who finance their vehicles through AAFCU. Members will have Internet access to more than 160 makes and models of quality certified used vehicles at Enterprise Car Sales locations nationwide, which they will be able to access through a private-label website linked to AAFCU's site. Members will also be offered special discounts on rentals.
For info: www.enterprise.com/creditunion.
CUDL Names Best Practices
RANCHO CUCAMONGA, Calif-CU Direct Corp. has named the winners of its 2004 Best Practices Awards during its Sixth Annual Auto Lending Symposium. Winners were recognized for overall indirect lending practices in the areas of dealer relations, member awareness, portfolio management and program innovation. The winners in the category of up to $100 million in assets were: Cambridge Portuguese Credit Union, Somerville, Mass., and Oregon Employees FCU, Salem, Ore. Winners in the $101 million to $600 million category were: Yolo FCU, Woodland, Calif., and IQ Credit Union, Vancouver, Wash. In the $601 million-plus category, winners were Boeing Employees' Credit Union, Tukwila, Wash., and Wescom Credit Union, Pasadena, Calif.
For info: www.cudirect.com.