Fintech

CHICAGO – Great Lakes CU will pick up a branch in nearby Willow Springs with the acquisition of Chicagoland Electrical Industry CU, a struggling one-time $22-million credit union.

MADISON, Wis. – The Filene Research Institute’s i3 innovations program has proposed nine new ideas, including a national network that helps credit unions sell repossessed cars, a web application to track milestones for homebuyers and a mobile app that helps members determine the future value of their savings for retirement planning.

Tyfone Inc. has added Acculynk’s Payzur person-to-person payment capability to the mobile banking application it supports at Boulder Valley Credit Union.

Arroweye Solutions is launching an EMV chip-card customization platform called EMV On-Demand.

While now may not be the right time to convert card bases to EMV, CUs should be building a roadmap for how they will make the switch.

The latest bank to be acquired by a CU says it agreed to the deal to bring a new financial choice to this town-which is the same reason the credit union made the offer in the first place.

For many credit unions, growing members, revenue and service levels can feel like a daily mountain climb. A company that specializes in gear for such climbs-along with camping, paddling and more-is offering advice on making that hike easier.

The Republic of Kenya is among the latest countries to make the move to EMV-chip cards, as its local banks and processors mount an ambitious campaign to transition the smart-card standard by early next year in a move to combat fast-rising fraud.

To adapt to changes in the payments industry, Ceridian, a Minneapolis-based human resources, payroll and payment card company, has split its payments business from its human capital management unit.

CAMBRIDGE, Mass. – MIT FCU, the credit union for Massachusetts Institute of Technology employees, has hired national branding and design firm Corey McPherson Nash to develop a brand strategy stretching across the $385-million credit union’s multiple channels.