CUs Interested And Wary Of MBLs
LAS VEGAS, Nev.-That credit union leaders are interested in expanding into member business lending was more than evident during CUES' Marketing, Operations and Technology Conference here, as was a joint confession: most CUs say they're stuck in first gear.
During an open forum discussion during the conference credit union executives repeatedly reported the interest they get from sole proprietors and other small businesses about MBL-related services.
But many of the credit unions that said they do offer MBL services also admitted they stumbled into the field gradually and are seeking to improve their operations.
One attendee pointed out that many CUs are successful because they concentrate on one thing. "It is possible that getting into another area could blur that focus," he warned.
Segmentation Debuts At Mich. CU
ANN ARBOR, Mich.-MidWest Financial CU has launched a new brand that is targeted at a specific portion of its members.
The new University of Michigan Health System Financial (UMHSF) is being aimed at employees and members of the University of Michigan Health System.
The credit union was founded in 1938 as University of Michigan Hospital CU. "This is not a name change," stressed CEO Larry Knoll.
"UMHSF is a new service we are offering to our members. This brand will allow us to continue our growth and success while maintaining and cultivating the relationship with the institution for which we were founded."
Hospital Renovation Gets CU Boost
NORTH ADAMS, Mass.-Greylock FCU has pledged a $100,000 donation to the third phase of the renovation of North Adams Regional Hospital.
The credit union is one of 11 area financial institutions donating a total of $1.24 million to the third phase of the hospital project. Among other donors was Landmark CU.
Patelco CU Signs With nCircle
SAN FANCISCO-Patelco CU said it has implemented nCircle Corp.'s IP360 online security system which protects against business interruption and minimizes risk by reducing network vulnerabilities and exposures.
Within the first week of operating the IP360 Device Profiler on its internal network, Patelco said it identified several systems that required security upgrades. Patelco executives estimate with other tools, a security engineer would have spent months before achieving similar results.
The system provides Patelco with a single, comprehensive and integrated vulnerability and exposure solution that provides continuous network knowledge, integration and proactive management.
CU 24 Expands Nationwide Reach
TALLAHASSEE, Fla.-The Credit Union 24 Network said it has reached an agreement with Cardtronics, LP, the nation's largest independent service organizations for ATMs, that will extend the network's reach to Cardtronics' 10,000 ATMs, bringing the total number of Credit Union 24 ATMs to over 28,000 locations.
It is the second network this month to make Cardtronics machines available to credit unions, following in the footsteps of start-up company Allpoint, a new surcharge-free network to which four credit unions have signed on.
"We are making great strides in expanding both our ATM and point- of-sale terminal access across the nation," said Jim Park, president of the network. "Credit Union 24 now has far more ATM access than any other credit union-owned network. Many of these ATMs are surcharge-free through our voluntary surcharge-free program, CU HERE."