SunCorp Intro's DEPOSIT CHEK
DENVER-SunCorp has launched a new product to fight fraud and is now offering DEPOSIT CHEK to its membership.
The $2.9-billion corporate said the decision follows discussions with member credit unions on the best course of action. Under the program, financial institutions share account information on a daily basis that is maintained and safeguarded as part of the National Shared Databases.
The databases contain information on account status, stop payments, negative accounts, counterfeit items and final return-item decisions. Each morning, SunCorp said, it will create a file of all checks deposited the previous day and provide credit unions with a report on the status of each deposit on a secure internet site.
For info: www.suncorp.coop
PSECU Cites Big Improvements
HARRISBURG, Penn.-The $2.1-billion Pennsylvania State Employees' Credit Union is crediting its move to CrediSphere software from X-Net Associates for an 81% increase in underwriting decision efficiency and a 115% increase in one-day turnaround of automobile loans. Since moving to the loan processing system in January of this year, PSECU has streamlined numerous ancillary manual processes directly with CrediSphere's workflow, the company said. Nearly one-third of all applications are now received and processed after hours.
For info: 585-425-7047, or www.xnair.com
Six CUs Take Cruise With Symitar
SAN DIEGO-Symitar said that over a 30-day period six credit unions have signed onto Cruise, its Windows-based data processing solution. The signings extend Symitar's reach to nearly 600 clients, about a third of which run the Cruise system, the company said. Among those new signees: $16-million Calcasieu Federal Employees CU, Lake Charles, La.; $10.8-million El Cajon FCU in El Cajon, Calif.; $18.5-million Employee Resources CU in Lawrenceburg, Tenn.; $5.5-million Mississippi Department of Transportation FCU in Jackson; $11.5-million Highway District 19 Employees CU in Atlanta, Tex.; $13.5-million Savannah (Ga.) Postal Credit Union, and $27.4-million TCC Credit Union in Dallas. Symitar noted that Cruise was specifically designed for small-to mid-sized institutions of less than $50 million.