Survey Finds Big Increase In Gathering of E-Mails
WASHINGTON-Seventy percent of credit unions in a new study say they regularly gather members' e-mail addresses, a 19% increase over responses in a similar study last year. The study, entitled "Credit Union Online Services: Strategies for Using the Internet to Enhance Member Services" and conducted by Callahan & Associates, also found that 45% of responding credit unions actively use e-mail addresses to send marketing messages, compared with only 26% that did so in last year's study. The credit unions in the study were all of more than $50 million in assets.
Study Examines Usage of E-Bill Payment Technology
MADISON, Wis.-Credit unions that provide Electronic Bill Payment (EBP) services have an average of 674 active EBP users (defined as members who use the service to pay at least one bill per month), but that number rises significantly with asset size.
According to CUNA's new 2002-2003 Technology & E-Commerce Survey Report, the number of average users reaches nearly 3,500 among credit unions with more than $500 million in assets.
The new survey report also finds that credit unions offering EBP services estimate that it costs, on average, nearly $30,000 per year to provide the service. Costs increase with asset size, topping out at about $130,000 among EBP- offering credit unions with more than $500 million in assets, according to CUNA. These costs exclude salaries and benefits, and do not include any costs associated with providing their Internet banking programs.
To order: 800-356-8010, press 3 and ask for stock number 24845. The report is $165 per copy. The report is also available as a PDF downloadable file at www.cuna.org for $150.
Diebold Unveils Remote Teller
ATLANTA-During a recent technology show here, Diebold put on display its RemoteTeller Self-Service (RT-SS) concept system. The company said the RT-SS is a multi-channel device that "equally supports self-service delivery, assisted service, distribution of marketing and promotional information, and help desk functions. It also provides enhanced security."
"The RT-SS concept combines all of the best features of Diebold's original RemoteTeller system and automated teller machine (ATM) technology by giving consumers the option to select one of several financial transaction delivery channels, either teller-assisted or self-service, from a single lobby station," the company added.
MacDill FCU To Use Fuze Product
BELLVUE, Wash.-Fuze Digital Solutions here said that the $1-billion MacDill Federal Credit Union, has entered into an agreement with the company to utilize its Fuze MemberLink solution to provide an alternative support channel to their members and staff. "Members will really appreciate the convenience of being able to easily and quickly find its answers online and ask questions in a secure, two-way communication that is part of MemberLink," said Lisa Moerchen, VP-marketing with MacDill. "We're also excited to offer members a better experience when going online by giving them access to more personal finance content than we offered before." For info: www.fuzeeds.com.
Citizens FCU To Premier Systems
DES MOINES, Iowa-Citizens FCU, Big Spring, Texas, is moving from an in-house system to Premier Systems, Inc.'s (PSI) online system. The 7,000-member credit union will convert during first quarter of 2003. Jim Weaver, president of Citizens FCU says, "The major factor in deciding to move to an online system was based on economies of scale." When the credit union transitions to PSI it also plans to add ATMs, which Weaver says are very important to the members. The credit union has debit cards, but no ATMs. Separately, PSI said that the 6,500-member Super U Credit Union, Sacramento, Calif., will begin running a PSI system following its merger with Triple S Credit Union. Triple S Credit Union currently uses PSI for its data processing and serves approximately 5,200 members. For info: www.psi-cu.com.
qbt, CUSC Expand Relationship
NEW YORK-qbt, a provider of real-time financial systems connectivity, said it is expanding its relationship with Credit Union Services Corporation (CUSC), the shared branching network representing 24 participating state and regional shared service center networks. CUSC has installed a new state-of-the-art, in-house data center environment at its Atlanta offices to support all of the stand-alone branches in its network. The new data center is a system upgrade project known as Next Generation. The qbt MultiPoint Integrator product has been installed and certified for the Next Generation system. qbt's software will act as the integration hub for CUSC's existing TellerPLUS application to interface into the Next Generation system. CUSC has been using the qbt technology since.
For info: www.qbt.com.
2 CUs Move To USERS' DataSafe
GULFPORT, Miss.-The $40-million Gulf Coast Community FCU has become the most recent credit union to select the DataSafe system from USERS, Inc. Gulf Coast will convert to DataSafe in June 2003, launching its first Internet banking initiative at the same time with the help of USERS' Internet solutions. "This change is going to be a big part of our future," said CEO Lisa Lindsey. "We believe it will we able our credit union to go where we've wanted to go for a long time, but couldn't because of technology limitations."
Gulf Coast chose USERS from a field of 13 credit union system vendors. Lindsey said two key factors influenced the decision: USERS' browser-based environment and the strength of the company. USERS' Relationship Pricing and Cross-Selling Manager are among the technologies that will support Gulf Coast's sales efforts.
Separately, in Munhall, Penn., the $105-million Tri Boro Federal Credit Union said it will also move to the DataSafe system from USERS Inc. Along with the move to the DataSafe core system, Tri Boro will implement a full range of USERS solutions, including PCU Internet Banking, WebLoan, the browser-based Cross-Selling Manager, and the Access RMS optical system.
For info: www.users.com
Experion, CUSO Sponsor Session
LAS VEGAS-Experion Systems, Inc., a provider of Trusted Advisor technology solutions to credit unions, and Member Gateways, LLC, a CUSO focused on bringing new innovative solutions to its member credit unions, co- sponsored an Automated Advice Symposium here. The Symposium included presentations from Dr. Glen Urban, Professor of Marketing at the MIT Sloan School of Management, Ron Shevlin, Research Director at Forrester Research, Inc., and Ross Blair, CEO of Experion Systems, Inc., in addition to a senior credit union executive panel discussion.
Urban told the meeting that financial services providers are moving toward the "The Trust Imperative" to re-position themselves in an ever increasingly competitive marketplace. The panel consisted of Jeff Farver, CEO of San Antonio FCU; Doug Ferraro, president of Bellco CU, and Bob Hamer of Mission FCU, who discussed the Billerica, Mass-based Experion's automated advice technology.
For info: www.experionsystems.com.
VyStar Implements APPRO System
JACKSONVILLE, FLA.-VyStar Credit Union here has successfully implemented APPRO's LoanCenter for Consumer loan automation system, according to the company. The credit union has also purchased APPRO's small business lending solution, LoanCenter for Business, and anticipates going live with it in the first quarter of next year. LoanCenter for Consumer, which is interfaced with VyStar Credit Union's core processing system provided by Miser, is currently being used to process approximately 9,000 loan applications per month with new and used auto loans representing the largest percentage.
For info: www.approsystems.com
OSI Named To The 'Fast 50'
GLASTONBURY, Conn- Open Solutions Inc. (OSI), a provider of integrated enabling technologies, has been named to, national Deloitte & Touche "Technology Fast 50" Program for Connecticut, a ranking of the 50 fastest growing technology companies in the area. OSI revenues grew 197% between 1997-2001.