LA HABRA, Calif. - Credit union websites are awakening from years of dreamless sleep, and Credit Union Journal set out in 2008 to chronicle their renaissance.

JACKSONVILLE, Fla. - Fidelity National Information Services Inc. has signed an agreement with Pipeline Data, a provider of electronic commerce and payment solutions whereby FIS will provide comprehensive, back-office merchant processing services, including settlement, charge-back processing, retrieval services and customer support. Pipeline Data currently delivers credit- and debit card-based payment processing and related services to small to medium-sized merchants.

MEMPHIS, Tenn. - Software Earnings has launched a stand-alone Remote Cashletter Capture system (RCC) for high-volume commercial accounts desiring to electronically deposit checks in their credit unions. RCC enables commercial customers to capture checks without pre-encoding, create electronic cash letters and securely transmit them to the credit unions of their choice.

FOSTER CITY, Calif. - Extractable, a Web strategy consultancy, announced that Michigan-based Credit Union ONE selected the firm to conduct the strategic planning and design of its website.

SALT LAKE CITY - Millennial Vision Inc. (MVi), a Laserfiche reseller of document imaging solutions that serves more than 180 credit unions, was named as a top five worldwide value added reseller and recipient of the Presidents Club Award presented in recognition of achieving an excess of $1 million of net revenue to Laserfiche during 2007.

CHANTILLY, Va. - Online Resources Corp. and SoundBite Communications Inc., a provider of on-demand automated voice messaging solutions, announced a referral agreement to provide creditors and billers with an integrated agentless payment solution.

MEMPHIS, Tenn. - uMonitor announced that it has entered into a sales referral agreement with NCR Corp. Under the agreement, NCR will offer two of uMonitor’s online applications as part of NCR’s comprehensive Internet banking solution. These uMonitor applications include uOpen & uFund, an online account opening and funding solution and uSwitch, an online switch kit.

ATM Fees Revaluated After Large Banks Boost Theirs

WASHINGTON - All of those Fiserv business units and still not merging.

MADISON, Wis. - Times may be tough and many CEOs pessimistic, but analysts see plenty of opportunities for CUs.

DENVER – Costs to finance last year’s $27 billion acquisition by Kohlberg Kravis Roberts & Co. of First Data Corp. pushed the transactions processing giant into the red to the tune of $273.2 million for the fourth quarter of 2007, the company reported last night.

HAMPTON ROADS, Va.–A former executive of two local credit unions was sentenced yesterday to 13 months in federal prison after admitting to stealing more than $200,000 from two institutions.A federal judge granted Minerva Marrero-Smith leniency after hearing emotional testimony from character witnesses, including retired NFL great Bruce Smith.Marrero-Smith, 51, pleaded guilty to defrauding the Portsmouth Post Office CU and the Hampton Roads Postal CU of $211,000 by obtaining loans through false pretenses between 1999 and 2003. In some cases she filed application under other names or borrowed money for unauthorized purposes. In one example, she borrowed $48,000 for a Mercedes-Benz but instead used the loan to pay off another loan.

McLEAN, Va.–Mortgage rates continue to see-saw this week, with the average for long-term rates rising again, after falling last week, according to Freddie Mac.The average for the 30-year, fixed-rate loan moved to 6.13% this week, from 6.03% last week; while the average for the 15-year, fixed-rate mortgage increased to 5.60%, from 5.47%.ARM rates also jumped, with the average for the five-year ARM going to 5.58%, from 5.34% last week; and the average for the one-year ARM going to 5.14%, from 4.94%.Orawin Velz, senior director, Mortgage Bankers Association in Washington, said that so far the housing sector has not benefitted from interest rate cuts by the Federal Reserve."The rates are coming down slower because of the increase in the spread between the 10-year Treasury yield and conforming mortgage rates," said Velz.

BROOKFIELD, Wis.–Fiserv’s Information Technology unit launched a mobile banking service yesterday.Premier Mobile Banking will operate on a browser embedded in handheld devices and will be carrier independent and compatible with any web-enabled device.It will allow credit union members to check account balances, view recent account transactions, receive alerts and transfer funds between accounts in real-time with their cell phones or PDAs.The system has already been launched by one Fiserv customer, United Bank of Michigan, a $421 million Grand Rapids bank.

BEDFORD, Ind.–Hoosier Hills CU said yesterday it entered a multi-year contract with ePayment Consultants to provide it with personalized service, custom programs and an additional revenue stream.ePayment Consultants provides payment and reporting solutions for authorizing and settling daily credit, debit card, checks and gift cards.The company is based in Louisville, Ky.

LOS ANGELES–LA Financial CU announced yesterday it has selected Symitar to automate its operations with its Episys in-house solution.Symitar is a unit of Jack Henry & Associates that provides processing services for more than 500 credit unions.LA Financial is a $300 million credit union with 35,000 members.

HARRISBURG, Penn.–Mid-Atlantic Corporate FCU said yesterday it has signed with Open Solitions to install the company’s new version of The Complete Credit Union Solution DNA.In addition to the DNA data processing platform, Mid-Atlantic will be implementing Open Solutions' cView CRM suite, Digital Document Systems, Financial Accounting Suite including general ledger, and ProfitVision' and the Channel Management Center Toolkit. Open Solutions is a subsidiary of The Carlyle Group.

WASHINGTON–Lawmakers called yesterday for reforms to credit card rules and disclosures and to bar to some of the most controversial credit card issuer practices that change the terms of a loan after the issuance of credit.“The practices of the credit card industry, in some ways, may be more troubling than that in the subprime market,” said Rep. Maxine Waters, D-Calif., one of 82 House sponsors of The Credit Cardholders’ Bill of Rights during a hearing before the House Financial Services Committee, adding, “it is not at all clear to consumers how and when their interest rates are going to increase.”Among the practices the bill would bar are so-called universal default, which allows card companies to raise rates when a cardholder had defaulted on a debt with another debtor; double-cycle billing; “any-time, any-reason repricing”; and charging late fees when a cardholder presents proof of mailing his/her bill within seven days of the due date.It would also require 45 days’ notice of any interest rate hikes; give cardholders the right to cancel their card and pay off existing balance at the existing rate when rates go up; require card companies mail bills 25 calendar days before the due date (up from the current 14 days).The credit union lobby is opposing the bill because of the new restrictions and added disclosures–even though they argue that few credit unions engage in the controversial practices the bill would prohibit.While the issue appeared last week to have some momentum, especially after a companion bill was introduced in the Senate, it is likely that Congress will wait to act on the bill until the Federal Reserve has completed its own amendment to Reg Z, the Truth In Lending Act, to include some of the same reforms called for in the House bill.

SPRINGFIELD, Mass.–Former D. Edward Wells FCU President Carol Aranjo, a one-time national spokesman for community development financial institutions, was found guilty yesterday of conspiracy and embezzlement charges in the 2003 failure of the prominent CDCU.A federal jury found the 66-year-old Aranjo and her husband Alphonso Smith, 67, conspired to use the assets of the $7-million credit union, making improper loans to family members and cronies and causing a loss of more than $2.2 million to the 44-year-old institution.The former CDCU figure was convicted of 16 counts of embezzlement, four counts of filing false tax returns, 13 counts of bank fraud, six counts of filing false entries and four counts of obstruction of a federal examiner.Their son, Douglas Smith, was also charged in the case but he drowned to death in a tragic boating accident last November, as the trial was nearing.Aranjo, who came to national prominence in the late 1990s as chairman of the National Federation of CDCUs, now faces years in prison when she is sentenced in June.Aranjo and her husband were accused of using credit union funds to buy a sauna and a timeshare in Mexico, and of financing both her husband’s and her son’s businesses, as well as to pay of personal debts.D. Edward Wells was taken over in 2003 by NCUA and liquidated, with its remnants sold to another local credit union. The NCUA takeover followed several years of battles with NCUA and its examiners. At one point, Aranjo filed a restraining order to keep NCUA examiners from the credit union, but it was thrown out of court.Yesterday’s jury verdict came after a five-week trial during which 29 witnesses testified.

SPRINGFIELD, Mass. – Former D. Edward Wells FCU President Carol Aranjo, a one-time national spokesman for community development financial institutions, was found guilty this afternoon of conspiracy and embezzlement charges in the 2003 failure of the prominent CDCU.