Author: Denise Wymore

Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, is excited to announce the launch of Quick Pick campaigns. While Xtend’s RevGen and Multi-Channel campaigns have been an excellent resource for credit unions as an arm of their marketing, a demand for a cost-effective product offering a quicker turn around has brought about the creation of Quick Pick campaigns.

Quick Pick campaigns allow credit unions to run common marketing campaigns, selecting from a library of pre-built templates right on the order form. With a quick approval process, credit unions can now launch campaigns in a matter of days instead of weeks at a lower price point.

“We’ve seen amazing results with our campaign programs and are excited to expand our offering to a campaign product with a quicker turn around at a lower cost,” said Genevieve Morgan, Xtend campaign coordinator. “We understand many credit unions don’t have the time to dedicate to building a campaign from the ground up and are excited to offer the option to run a promotion without the time and cost of the typical campaign process.”

About Xtend, Inc.

Xtend, Inc. is a 100% credit union-owned CUSO formed in 2002 with headquarters in Grand Rapids, Michigan. Xtend provides a wide array of managerial, operational, marketing, technical planning and consulting services for credit unions of all sizes. In short, Xtend is an aggregation point for shared resources that allows credit unions to deliver products and services more cost-effectively. Their strategic offerings include bookkeeping services, member contact services, back-office mortgage services, partnered liquidity opportunities, shared branching, and payment processing services. Xtend provides services for over 250 credit unions representing more than 1.2 million members and $13B in assets. The CUSO is currently owned by 90 credit union industry partners. For more information, visit www.xtendcu.com.

CO-OP Ecosystem Enables Credit Union Growth via Seamless Member Payment Experiences

BECU, the nation’s third largest credit union, is renewing its 14-year partnership with CO-OP Financial Services, leveraging its integrated ecosystem to enable fast, convenient and secure payment experiences for members.

“Partnering with CO-OP helps support BECU’s goals of improving our member experiences and ultimately making it easier for our members to access their accounts,” said Doug Marshall, Executive Vice President, Chief Digital and Product Officer for BECU. “Through a deep commitment to the credit union industry, its technology platform and knowledgeable resources, CO-OP has demonstrated its ability to serve as a strategic partner for BECU as we develop plans for the future.”

BECU will continue its signature and PIN debit processing, fraud and risk management, and ATM terminal driving with CO-OP. In addition, the credit union participates in CO-OP ATM network, with more than 30,000 fee-free ATMs throughout the country. These services are tightly integrated within the CO-OP ecosystem to help BECU engage with and protect their members in their daily, multiple payment experiences.

The traditional credit union model of interest income on lending for life-stage events, such as buying a house, is under pressure through declining volumes and margins, according to CUNA and NCUA data. However, credit unions have the opportunity to change that trajectory by building non-interest income and interchange through payments. Consumers continue to transact at a growing rate, with a November 2020 study by Statista Digital Market Outlook projecting a 14.6 percent compound annual growth rate over the next five years in U.S. digital payments.

“BECU is seeking to be well-positioned to capture more member moments through payments transactions,” said Matt Kardell, Chief Revenue Officer for CO-OP. “We are proud to partner with them to provide the platform they need to solidify primary financial relationships, so that BECU can grow their business and contribute to the financial well-being of their members.”

Based in Tukwila, Washington, BECU has more than $26.8 billion in total assets and nearly 1.3 million members. Like thousands of other credit unions, BECU has distinguished itself in the past year by offering “loan relief and payment deferral options for those affected by the COVID-19 crisis,” as stated on its Financial Relief Solutions on BECU.org.

For more information on the CO-OP ecosystem for credit unions and their members, visit www.coop.org/Solutions.

About CO-OP Financial Services
CO-OP Financial Services is a payments and financial technology company whose mission is ensuring the success of the credit union movement. CO-OP payments solutions, engagement services and strategic counsel help credit unions optimize member experiences to consistently provide seamless, personalized multi-channel offerings, while delivering secure, sophisticated fraud mitigation service. For more information, visit www.coop.org.

eDOC Innovations, a credit union service organization specializing in mobile enterprise digital transaction management, and Origence, an industry leader providing next generation lending technology for financial institutions, have announced the completion and roll-out of an e-signature integration with the Origence Consumer Loan Origination System (LOS). Integration of the Origence Consumer LOS with eDOC’s e‑sign solution will allow lenders to generate dynamic loan documents and enable those documents for e-delivery, e-signature, and e-closing capabilities, thereby improving the borrower experience and optimizing the lending process.

The Origence Consumer LOS is a comprehensive loan origination system designed to improve the lending process and overall experience for both consumers and lenders across a variety of loan products.

Currently, there are almost 600 credit unions that utilize eDOC’s e-sign platform with many more signing up for the solution.

“We are committed to delivering products and solutions that meet the demands and needs of our credit union clients by bringing innovation and expertise to indirect lending, consumer and mortgage loan origination, point-of-sale, online car buying, and many other applications,” said Brit Barker, vice president of enterprise solutions for Origence. “With the knowledge and experience our staff brings from all verticals, we are able to consistently deliver leading-edge solutions, including integrations with providers such as eDOC.”

Continue reading eDOC and Origence collaborate to launch integrated e-sign solution for lenders

The National Association of Credit Union Services Organizations (NACUSO), the only trade association focused on growing and protecting the CUSO movement, announced the election results for their Board of Directors.

“We had four board members’ terms expire in 2021,” said Jack Antonini, President/CEO of NACUSO. “We were fortunate to have 3 out of the 4 members with expiring terms run again in this year’s election with the exception of Mark Zook, CEO of Maps Credit Union. Mark has dedicated the last 12 years to volunteering on our board and has reached his term limit. We are extremely grateful for his service and Mark has graciously agreed to serve as Chairman of the Board of the newly formed NACUSO Business Services, LLC.”

The board members re-elected for a three year term are Becky Reed, CEO of Lone Star Credit Union, Dean Young, EVP/Chief Experience Officer at PSCU and Matt Kardell, Chief Revenue Officer for CO-OP Financial Services.

“We are thrilled to welcome Brad Crandall, CEO of The Servion Group, Inc. to fill the fourth vacant position on our board,” said Antonini. “During his tenure as CEO, The Servion Group has expanded from its origins as a mortgage support organization for credit unions into a diversified organization providing a variety of solutions for financial institutions. The Servion Group received the 2018 NACUSO CUSO of the Year award in recognition of excellence in innovation and collaboration in the industry.”

About NACUSO

The National Association of Credit Union Service Organizations was formed in 1985 to help credit unions explore the use of CUSOs and the delivery of non-traditional products and services. Over the years, NACUSO’s focus has evolved to helping credit unions form multi-owned CUSOs and participate in collaboration and the cooperative business model.