FSI Updates Software
The update is for FSI's product LobbyCentral. The product is a member queuing and tracking system that provides credit unions with critical service information and reduces member wait time through instant notification.
LobbyCentral NX (v4.0) now tracks products and services that are offered to members in addition to the original service that they needed. There is also a new report writing module that allows users to create customized reports from LobbyCentral's database.
"With these new improvements, credit unions can better manage staff productivity and performance, identify staff training issues and serve members faster through self-service check-in," said Jaime Fuhr, president/CEO of FSI.
Other improvements include a Web-based interface for reporting and dashboard analysis of lobby traffic, a reservation system for prescheduled visits and improvements to the kiosk module for self-service check-in.
MEMBERS Gets Fannie
Approval on Servicing
TAMPA, Fla. -- MEMBERS Trust Co. has received the green light from Fannie Mae to be a seller and servicer of its reverse mortgages.
With this approval, MEMBERS Trust will be able to facilitate the sale of the Federal Housing Administration's home equity conversion mortgage to Fannie Mae. To obtain approval as a seller and servicer, Fannie Mae requires the applicant to have experience with reverse mortgages, internal controls and procedures in place and be financially sound, according to the trust company.
MEMBERS Trust said "the recent turmoil in the capital markets has resulted in the downsizing of secondary mortgage buyers for reverse mortgages, and Fannie Mae's continual support for reverse mortgages has been critical to sustain reverse mortgages for seniors."
According to Tom Walker, CEO of MEMBERS Trust, Fannie's continued support of reverse mortgages is in line with FHA's public policy of providing a "resource for seniors to meet special needs and, in many cases, to 'age in place' as opposed to selling their homes." Walker said the trust company is gearing up to promote the program to credit unions.
Partners to Receive $4 Mil.
From CUSO Financial
SAN DIEGO -- Credit union limited partners with CUSO Financial Services LP are slated to receive their share of a $4 million retained earnings distribution from the broker-dealer and registered investment adviser.
Describing the recent allotment as its own "economic stimulus package," CFS is encouraging credit unions to reinvest the money into marketing, education and customer support within their investment programs. With the most recent distribution, the CUSO said it has retuned a total of $8 million to credit unions in 2008.
"Credit unions, like all businesses, are feeling the pinch right now. It's tempting for them to cut back on hiring advisers, marketing, traveling to educational conferences and providing investment workshop programs for members," said Valorie Seyfert, president/CEO of CFS. "We believe that the challenges in our marketplace present opportunities. Now more than ever, when everyone else is pulling back, we are encouraging credit unions to step forward and reach out to their members to help them through these troubling times."
CFS said it is putting the finishing touches on phase two of its version of an economic stimulus program to include discounted products, services and incentives.
The CUSO serves more than 120 credit unions.
Affinity Hires N.J. Banker
BASKING RIDGE, N.J. -- Kevin McCloskey, a former senior executive at Synergy Bank, has been hired by Affinity Federal Credit Union to oversee the financial institution's business and consumer lending divisions effective immediately.
The new vice president of lending will be responsible for the oversight of business and consumer lending, mortgage and loan servicing, credit administration and business solutions. From 2000 to the present, McCloskey held the positions of senior vice president, chief operating officer and chief credit officer at Synergy Bank in Cranford, N.J.
McCloskey has been certified by the American Bankers Association in the advanced courses of commercial real estate syndication and in small business commercial lending, according to the $1.8 billion Affinity FCU. In his new role, he will also be responsible for developing operational efficiencies, reducing costs and improving employee satisfaction.
Affinity FCU serves more than 126,000 members.