RANCHO CUCAMONGA, Calif. — The California and Nevada Credit Union Leagues have created a partnership with credit union owned software provider EPL and software manufacturer MeridianLink to qualify members for membership, loans and other products using online automated processes.
An Xpress membership spplication is the cornerstone of the offering, which allows for 24/7 online membership sign-up, as well as credit reporting, ID verification, screening, automated decisions and cross selling of loans and credit cards. It utilizes MeridianLink's Xpress Accounts software, which integrates with its popular loan origination product LoansPQ.
EPL will also provide its payday lending application and credit analyzer service in the deal. In addition, the instant membership gratification service with leverage the leagues' credit union match-up site (www.findacreditunion.com).
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"Through this partnership, our credit unions will be able to cross sell various products to its members, including personal and car loans–all through their Web sites. This can become a powerful tool in capturing and retaining Generation Y members who prefer online transactions," said Sylvia Fath, senior vice president of business services.
Mo. CUs Help Pass ID Theft Measure
JEFFERSON CITY, Mo. — Victims of identity theft will have greater access to law enforcement records as a result of a measure passed by the Missouri Legislature with the strong backing of the Missouri Credit Union Association.
The bill gives victims the right to view and receive a copy of any and all investigations into the incident. Currently, not all law-enforcement agencies file reports on these cases.
Credit unions contacted state and local law enforcement agencies and presented evidence that police departments did not have a standard way of handling reports.
"We were happy to serve as the consumer watchdog on the issue and help support passage of the bill," said Peggy Nall, the senior vice president of public and legislative affairs of the Missouri Credit Union Association.
Navy Federal To Serve Entire Military
WASHINGTON — The biggest is getting bigger.
Navy Federal Credit Union, already the world's largest, is poised to grow even more now that it is expanding its field of service to the entire military.
The Vienna, Va.-based credit union just received NCUA's permission to offer membership to all enlisted personnel, officers and civilian employees of all branches of the armed services.
"Adding new members is good news for our credit union because it allows us to offer an even broader array of products and services at highly competitive rates," said Navy Federal President/CEO Cutler Dawson.
The credit union, which has assets of $35 billion and more than 7,500 employees, has been in an expansion mode recently. Last year it increased its network of branches by 25% and hired 2,600 new employees.
Dawson said they are launching their recent expansion because all branches of the armed forces share resources and often work on the same bases. Also, they will be able to attract Army and Air Force members to join the credit union as it expands to facilities nearer their new bases.
Navy Federal's expansion has not come at the expense of its corporate culture. It was recently listed by Fortune magazine as one of the country's 100 best places to work.
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