Posts By: Denise Wymore

Greenwood Municipal Federal Credit Union signs core data processing contract with CU*Answers

CU*Answers announced that South Carolina-based Greenwood Municipal Federal Credit Union recently executed a contract to change its existing core data processing platform to the CU*Answers CU*BASE® system, the CUSO’s flagship solution. Over 6,800 Greenwood Municipal FCU members will be converted in November 2021.

Greenwood Municipal FCU CEO Phil Heinlen said: “Greenwood Municipal decided as a team after calls and webinars with different data processors to go with CU*Answers. We believe it is and will be the best fit for our credit union. Not only for our members but for our staff. It seems to be very user friendly and the staff at CU*Answers is very hands on with their clients. We look forward to and are very excited for our future with CU*Answers.”

“We’re incredibly excited to have Greenwood Municipal Federal Credit Union join our network of credit unions,” added Scott Collins, CU*Answers executive vice president of national sales and marketplace relations.… Read more

PSCU Year-over-Year Transaction Trends Update (35th week)

PSCU, the nation’s premier payments credit union service organization, has updated its weekly transaction analysis from its Owner credit union members on a same-store basis to identify the impact of COVID-19 on consumer spending and shopping trends. An infographic is also attached.

To provide relevant updates on market performance, experts from PSCU’s Advisors Plus and Data & Analytics teams today released year-over-year weekly performance data trends. In this week’s installment, PSCU compares the 35th week of the year (the week ending August 30, 2020 compared to the week ending September 1, 2019).

  • Overall card payment volume growth rates decelerated in Week 35. This is likely attributable to Labor Day falling in Week 35 of 2019, leading to a year-over-year decline for the week as the holiday occurs in Week 36 this year.
    • Debit card spend was up 9.4%, below the prior four-week average of +16.1%. Transactions were up 0.2% and have been positive for nine consecutive weeks.
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CU*Answers previews new prototype designs for CU*BASE Xpress Teller

CU*Answers today posted samples of prototype designs for its new Xpress Teller processing platform, in development now and scheduled to release in the spring of 2021. Created as an alternative to the CUSO’s full-featured CU*BASE®teller line posting tool, Xpress Teller is a result of the CUSO’s “Teller 3P” initiative which envisions three distinct teller approaches: the traditional soup-to-nuts platform used today, a modern keep-it-simple design, and an API-based app that would let tellers roam the lobby with a tablet or that would connect with other third-party teller solutions such as ITMs.

“Xpress Teller takes a new approach for today’s credit union lobby, pulling together what we’ve learned about processing teller transactions over the years, along with what our clients have told us they want for their future,” said Dawn Moore, VP Writing Team/Product Design. “We’re excited about combining a more streamlined, highly-configurable workflow with a fresh new look and user experience.”… Read more

PSCU to Provide DuPage Credit Union with Credit and Debit Processing Support

PSCU, the nation’s premier payments credit union service organization (CUSO), has announced that DuPage Credit Union (DuPage) has joined the cooperative as its newest Owner. PSCU will provide credit and debit processing services and support for the credit union’s more than 37,000 members beginning in 2021.

Headquartered in Naperville, Ill., with more than $433 million in assets, DuPage was seeking a card processor with the ability to provide its members with a unified experience across credit and debit services, including offerings such as alerts, travel notifications, lost/stolen card replacement and more. DuPage also wanted a partner that could help elevate its digital delivery for members’ credit and debit card and rewards experiences. PSCU’s strategic focus on digital technologies, enhanced rewards, and its proven ability to assist with growing credit and debit programs and member engagement were additional factors leading to the CUSO’s selection.

“PSCU was exceptional to work with throughout the entire vetting process,” said Diane Shelton, president of DuPage.… Read more

BizLink Advisory Board holds quarterly meeting to discuss business servicing initiatives

The BizLink team, a division of cooperative CUSO CU*Answers, is dedicated to working with credit unions to provide services to their business/commercial members. In August, the BizLink Advisory Board, a group composed of BizLink staff and credit union personnel, conducted their quarterly meeting to discuss updates on projects implemented in 2020, projects that are currently being worked on, as well as discussing other concepts that the Advisory Board has an interest in pursuing for their business members.

Element Federal Credit Union CEO Linda Bodie spent time demonstrating the portal that her credit union created for a business member they have been working with. “The goal with the portal was to provide our business member the ability to quickly access the tools and services that we provide to them,” said Bodie. “We feel this is the best way for our busines partner to know who they can contact if they have questions, as well as providing them a single location to complete their daily tasks.”… Read more