The CUJ Daily
CU Foundation Teams With State
FEDERAL WAY, Wash.-The Washington CU Foundation is expected to sign a contract with the state's Office of Minority and Women's Business Enterprise in the next few days to connect minority owners of small businesses with credit unions to help them with their financial needs. "They will provide resources that will allow credit unions to do outreach to Hispanic consumers and other immigrant groups," Roxanne Kruger, head of the foundation, told The Credit Union Journal.
"We will help connect them with credit unions offering them business services, like loans or business checking." The Foundation, a subsidiary of the Washington CU League, already has a relationship with the state department through its First Accounts Program, under which they are working to deliver financial services to the "unbanked."
PSCU Funds Filene Research
ST. PETERSBURG, Fla.-PSCU Financial Services announced a grant of $250,000 to the Filene Research Institute to help fund a new Filene study examining financial issues facing young adults and young families.
The grant, one of the biggest ever provided the credit union think tank, will fund Filene research focusing on credit union members and potential members under the age of 30. Some of the areas of study will be first-time car buyers; first-time homebuyers; and building trust with young members. PSCU Financial provides electronic funds processing to more than 500 credit union owners.
CU 24 Expands ATM Network
TALLAHASSEE, Fla.-Credit Union 24, the credit union-owned electronic funds transfer network, said it has signed with Global Axcess Corp. to give CU24's 400 members access to Global Axcess's 2,500 ATMs.
The deal will expand the CU24 network to more than 30,000 ATMs in all 50 states. Under the deal, CU24 credit unions will also be given access to the Global's Nationwide Money subsidiary's Branded Cash Program, which allows an institution to co-brand the company's ATM's with its own brand.
FSCC Announces Member Payout
SAN DIMAS, Calif.-Financial Service Centers Cooperative, Inc., said its board has approved a $1.2-million patronage dividend to members/owners of the shared branching network.
The announcement of the patronage payout comes just weeks after FSCC announced a $500,000 payment to credit unions that open their doors to members of the network. The network added 195 new outlets in 2003, including 14 branches in Germany. The patronage dividend is expected to be paid in April.
CU Signs With Financial Fusion
ANCHORAGE, Alaska-Alaska USA FCU said it as signed with Financial Fusion, Inc., a unit of Sybase, Inc., to install the company's corporate banking solution, a web-based cash management and global payments system.
The solution allows financial institutions and their business customers to manage cash positions, process payments and transfer funds electronically.
Encore Inks Deal With eFunds
FALLS CHURCH, Va.-Encore, which provides funds transfer and shared branching for 65 Washington-area credit unions, said it signed a new contract with eFunds to provide ATM driving, network access, debit and credit card processing.
eFunds has been providing those services to Encore for the past 10 years, Encore Electronic Services Cooperative is a CUSO owned by 65 credit unions.
EFT Network, CU Offer Scholarships
LEOMINISTER, Mass.-Leominster CU has joined with Fiserv's ACCEL/Exchange Network to offer $50,000 in college scholarships to area high school students.
The program will fund four $5,000 scholarships and 30 $1,000 scholarships. Students will be chosen based on academic achievement, volunteerism, extracurricular activities, character and leadership, and financial need. The scholarships will be open to all college-bound students, but preference will be given to credit union members.