The CU Journal Daily

Register now

CUs Eye Municipal Property Auction

LAKELAND, Fla.-A surplus branch put up for auction by the municipal electric company has created a bidding contest by two interested credit unions.

Community First CU, based in nearby Mulberry, and GTE FCU, based in Tampa, have each submitted bids for the 27,000 square-foot property and building. Community First CU's bid: $576,000.

GTE FCU's bid: $575,000. Community First, with about $82 million in assets, said it couldn't afford to enter a bidding war with the much-larger GTE FCU, with $1.8 billion, and promised to close the deal within 30 days, which could earn the city as much as $3,400 in additional property taxes.

The Lakeland City Commission, which owns the property, was weighing that against GTE's offer, which included a pledge to close in 60 days.

A spokesman for the city commission told The Credit Union Journal the panel plans to solicit new bids from the two credit unions.

USC Trojans Get CU Sponsor

LOS ANGELES-USC Credit Union it has entered into a two-year sponsorship deal with its primary sponsor, the University of Southern California, as the "Official Credit Union of USC Athletics."

The credit union said its goal is to increase awareness through cross-promotional marketing opportunities that will include radio and print ads, direct and electronic mailings, in-game promotions, and on-site presence at athletic events.

The credit union's name will also be visible at home football games for the Trojans, the number one team in the country, who draw more than 90,000 people to games.

CheckFree Unveils Fraud Detection

ATLANTA-CheckFree is launching a new automated system to prevent and detect online fraud in the electronic bill payment process. CheckFree's FraudNet is supported by Actimize Inc.'s analytic technology.

The system combines CheckFree's knowledge of payment patterns and a sophisticated analytics engine to help credit unions and banks and their customers detect and stop unauthorized payments before they are completed.

The Actimize analytics engine issues alerts when suspicious transactions or fraud patterns are detected.

CheckFree FraudNet monitors every bill payment transaction that appears on consumers' accounts at credit unions and banks and matches them against pre-established rules developed through experience.

Connexus CU Ads ID Theft Program

WAUSAU, Wis.-Connexus CU said it will now offer its members comprehensive identity theft protection and resolution services through Identity Theft 911.

The service will offer credit union members a personal advocate to deal with credit bureaus and billers when resolving an identity theft. Identity Theft 911 is based in Scottsdale, Ariz.

GECU Signs With Aimbridge Indirect

ZANESVILLE, Ohio-Genesis Employees CU has selected Aimbridge Indirect Lending to provide it with a platform for an indirect auto loan program.

The $7 million credit union serves the Genesis HealthCare System that operates two Zanesville hospitals, Genesis-Bethesda and Genesis Good Samaritan, and several affiliated health maintenance organizations.

The indirect program is being offered by Aimbridge through its partnership with the Ohio Credit Union League.

PrimeWay Opens In Supermarket

HOUSTON-PrimeWay FCU said it has opened its first in-store branch, inside the 93,000 square-foot H-E-B supermarket, in Houston.

The 600 square-foot branch was built in less than 60 days by IBT, the well-known branch developer, out of Atlanta. The H-E-B branch gives the $220 million credit union seven Houston outlets. (c) 2005 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER