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Online Resources Adds 4 CUs

CHANTILLY, Va.-Online Resources Corp. reported that four top credit card issuers in the U.S. have selected its recently introduced Online Resources Collections product, which it described as a "virtual collections agent" that provides card issuers and other types of creditors with a fully branded, 24/7 online environment. "Delinquent account holders can apply for payment programs, with rules specified by the creditor, enabling their customers to privately and conveniently self-cure their delinquent status," the company said. It added that results of a five-month pilot conducted in 2005 with a top-three U.S. based credit card issuer show the collections service enabled an improvement of 310 basis points in reduction of losses, or an annualized savings of $3.1 million for an organization with $50 million in delinquent outstandings.

My CU Services Signs 500th CU

MIDDLETOWN, Penn.-Discovery FCU has become the 500th credit union to sign up with MY CU Services, LLC, for its Electronic Bill Payment program. "Electronic bill payment processing by MY CU Services, LLC, is a 'turn-key' solution developed by a credit union specifically for credit unions. To remain competitive, credit unions need to meet increasing demands from members with electronic financial services," the company said. MY CU Services is an offering of Mid-Atlantic Corporate.

Pelican State Chooses PEMCO

BATON ROUGE, La.-The $117-million Pelican State Credit Union has selected Seattle-based Pemco Technologies for its Classic, Gold, and Platinum credit card processing. It is also beginning a Pemco Extra Awards program for its Business Visa credit program. The Baton Rouge, La. credit union already uses Pemco for Visa debit. Also selecting Pemco: the $130-million Family First FCU, Orem, Utah, and Member's Choice Community Credit Union, Clinton, Iowa.

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