The Metrocrest Chamber of Commerce, which represents businesses in the Dallas' area communities of Addison, Carrollton and Farmers Branch, named John Reap, CEO of the credit union-owned Town North Bank, as citizen of the year in recognition of his years of community leadership.
"Reap has been heavily involved in community support organizations throughout his 29-year tenure at Town North Bank," the chamber wrote in its announcement of the award.
"He is actively involved in promoting education through his work with the Carrollton-Farmers Branch Independent School District Educational Foundation, where he has served as chairman of the board of directors. He has served two terms as chairman of the board of Senior Adult Services for Metrocrest; he has also been supportive of the American Heart Association in Texas for more than 17 years, and is a former chairman of the organization's state board. As an avid college football fan, he is enthusiastically involved in the Cotton Bowl Athletic Association, where he has served as a board member."
"John Reap is the epitome of a great civic-minded business leader," said Greg Vaughn, president and CEO of the Metrocrest Chamber. "His unselfish dedication has strengthened the communities of the organizations he has supported. It is with great honor that we name him our 2008 citizen of the year."
Syphr Tests Sales Tool
Eight credit unions are now beta testing a lead-generation tool that matches consumers seeking loans with participating credit unions after the consumers buy a credit report.
The RateMatch solution is the patent-pending property of Syphr LLC of Ferndale, N.Y., a new CUSO whose owners include $51 million Eastern New York FCU.
RateMatch sources potential loan and new member prospects from the 175,000 consumers who buy credit reports each month and then sends them messages using a cost-per-acquisition model of Internet advertising.
"RateMatch offers credit unions a strategic advantage by placing them in the first-mover position on sites that sell credit reports," said Chris Langley, president of Syphr and of ENY FCU.
"RateMatch provides credit unions with an exclusive opportunity to engage motivated-and untapped-borrowers early in the buy cycle and, by capitalizing on critical knowledge of the buy cycle, allow them to convert prospects into new members," he said.
Langley said he expects RateMatch to launch in April and invites more beta testers. Working with Fiserv's Galaxy unit, Syphr (www.massxvelocity.com) also developed the CreditMine, CreditMart, iSwitchKit and Member Relationship Plus solutions.