LaCorp Turns to South Carolina CUSO for Check 21 Tools
METAIRIE, La. — The 200-plus credit unions that depend on Louisiana Corporate Credit Union (LaCorp) for investment, liquidity and correspondent financial services can now get branch item capture there, too.
LaCorp is offering the Check 21 solution through a partnership with Palmetto Cooperative Services, a South Carolina-based CUSO that now provides the service to more than 80 credit unions, including several corporates.
"As the cost to process and transport paper checks continues to escalate,
more credit unions are looking to image-based options," says David Savoie, president/CEO of LaCorp.
"Many of our members have taken a wait-and-see approach regarding branch capture but are now considering the technology. LaCorp is ready to assist them with a new image-based solution," Savoie says.
Columbia-based Palmetto Cooperative Services, a subsidiary of the South Carolina Credit Union League, says it expects to soon surpass one million items processed per month.
Wolters Kluwer Adds to Curriculum of Online Training Program
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MINNEAPOLIS — The history and unique nature of credit unions are among the topics offered by Wolters Kluwer Financial Services in the latest additions to its Compliance University On-Line Learning Program, the company says.
"Credit Unions: Then and Now" is one of 11 new Web-based courses. Others focus on teller responsibilities, including topics such as "All About Checks," "All About Deposits," "Balancing" and "Counting Money."
There now are more than 160 courses offered through the Compliance University program, which also includes tracking and reporting capabilities.
"Our customers have told us these additions to our Compliance University?,,? On-Line Learning Program are crucial to helping them train first-time bank and credit union employees to perform their new roles correctly and in a way that provides their customers and members with the best possible service," says Dave Roy, general manager of banking for Wolters Kluwer Financial Services.
The Web site is at www.WoltersKluwerFS.com/complianceu.
Webcast Spells Out Potential Retirement Plan Fiduciary Liabilities
WASHINGTON — Pentegra Retirement Services and NAFCU Services Corp. are offering a free Webcast on the duties and potential liabilities of a retirement plan fiduciary, and summarizes the basic tenets of the Employee Retirement Income Security Act, the body of law governing all qualified plans.
The 14-minute Webcast is geared towards CEOs and board members, Pentegra and NAFCU Services Corp. said.
"The bottom line is that an employer's assets cannot shield the individual from liability when that individual is acting as a fiduciary," said Richard Rausser, vice
president of consulting services for Pentegra and the Webcast's expert.
David Frankil, president of NAFCU Services Corp., said, "CEOs have enough liability issues to worry about without having to take on the added responsibility of being plan fiduciaries."
The free Webcast and accompanying slides are located online at www.nafcu.org/pentegra.
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