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SFCU Loans Support Main Sponsor

FLINT, Mich.-Security FCU said it has expanded a discount loan special to help support its main sponsor group, General Motors employees at the automaker's Powertrain Flint North plant.

The 1% loan discount was originally offered earlier this year to finance Buick LaCrosses, which are powered by the Flint-built 3.8-liter V-6 engine.

The promotion has been expanded to include two more models, the 2006 Pontiac Grand Prix and the 2006 Buick Lucerne, both of which have the 3800 engine under the hood.

The promotion, which also includes 10 free car washes, is aimed at helping boost the local economy, according to credit union officials.

CU Deploys Deposit-Taking ATMs

TAMPA, Fla.-Suncoast Schools FCU has become the first financial institution to deploy Diebold's full deposit automation system.

The $5-billion credit union launched the first phase of its deposit automation pilot a year ago when it became the first financial institution to go live with Diebold's ImageWay ATM system for check imaging in the employee lounge at the credit union's main offices.

The new phase will extend the technology to all credit union members, using Diebold's Opteva ATMs. Suncoast members can deposit checks without the use of an envelope or deposit slip, then receive confirmation of their deposits, including an image of the check printed on the receipt.

The system also allows the deposit of stacks of cash, up to 100 notes, without the use of an envelope. The program will include Diebold's Intelligent Depository Module; Bulk Note Acceptor; ImageWay ATM agent; and Xpedited by Alogent; and the ImageWay server.

Hypodermic Needle Used In Robbery

WESTBOROUGH, Mass.-A desperate thief threatened a member of Digital FCU with what he claimed was an "AIDs-infested needle" to rob her outside the credit union's ATM.

The thief was identified as Mathew Braley, 21, because he left his license behind a few minutes before while unsuccessfully trying to cash a bad check at the credit union, police said.

Braley made off with an undisclosed amount of cash only after suffering the blows of the credit union member, who was determined to put up a fight. He accosted the member after she made a $200 deposit at the ATM, by holding a a needle to her stomach and threatening to infect her with the "AIDs virus."

The woman kicked the needle and syringe out of his hand and fought him, before he ran off with her purse, according to police. The purse and syringe were recovered by police.

PayCycle Eyes CU Market

PALO ALTO, Calif.-PayCycle said it has signed with FedComp to market its automated payroll systems to its 2,500 credit union customers.

PayCycle is a provider of on-demand payroll systems, targeting small businesses and accountants who serve them.

PayCycle's "Do-It-With-You" technology platform guides customers through the entire payroll process from paychecks to W-2 forms.

CU Replaces Bank At High School

PEABODY, Mass.-Officials at Peabody High School said North Shore Bank is pulling out of the school in January, and will be replaced by Metropolitan Credit Union.

Officials said they did not know why the bank wanted to pull out.

But one source said it was an economic decision and the in-school bank branch was not profitable enough.

Desert Schools Offers Hybrid Loan

PHOENIX-Desert Schools FCU unveiled a new mortgage that combines the traditional 30-year, fixed-rate loan with an interest-only product.

Desert Schools' Fixed-Rate Interest-Only mortgage will set the rate for the entire term of the loan but also feature a 10-year interest-only period.

During the interest-only period, a member has the option of making interest-only payments or paying principal, as well. (c) 2005 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.

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