MECHANICSBURG, Pa. — As an avenue to provide credit unionsaccess to business loans for sale, Members 1st Federal Credit Unionhas launched a new loan participation Web site.

Through the site participants will be able to download all ofMembers 1st's due diligence information as well as view a list ofloans for sale. Each loan record will also include a description ofthe loan, original loan date, terms, amount available to purchaseand yield to participant. From that list, users will be able torequest loan packages to view. They will then be given access todownload the entire loan file for complete underwriting.

Launched on Sept. 22, the Web site was officially unveiled atthe Mid-Atlantic business services workshop in Gettysburg, Pa.,Approximately 60 attendees representing 25 credit unions and CUSOswere able to view the new site.

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CUNA Mutual Group Upgrades Its Choice 401(k)Program

MADISON, Wis. — CUNA Mutual Group said it has upgraded andrepackaged its Choice 401(k) program to provide retirement plansponsors with more choices of institutional investments foremployees.

Using a group annuity platform, the product now offers more than75 different subaccount choices from a variety of well-knowninvestment managers, said Tom Eckert, CUNA Mutual vice president ofretirement plan services. Accounts now include investment managersVanguard, PIMCO, Oppenheimer, MFS, T. Rowe Price, BlackRock, MorganStanley, Neuberger Berman, Lord Abbett, Putnam, Aim, FranklinTempleton, MEMBERS Capital Advisors and Dreyfus.

The Choice 401(k) also includes target risk and target dateallocation options that use multiple investment managers within thesubaccounts and a principal guarantee benefit rider that, ifselected, guarantees no loss of principal on the conservative ormoderate allocation subaccounts when held for at least 10years.

CUNA Mutual's 401(k) product portfolio also includes the Trusteeproduct, featuring a national board of trustees responsible for theplan's investment selection and oversight. The trustees havefocused on building a unique plan featuring broad-based, low-cost,institutional-style portfolios. This plan is designed for plansponsors that do not have the expertise or time to select andmonitor the investment accounts of a 401(k) plan, according to thecompany.

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NY Association Sells 'CU Traditions' Cookbook to RaiseMoney for PAC

ALBANY — The way to the coffers of the Credit Union Associationof New York's political action committee is through thestomach.

The association is selling a cookbook, Credit Union Traditions,contains more than 200 recipes from credit unions throughout theEmpire State. The association has printed 3,000 copies and isselling them for $10 each.

The proceeds will help fund the activities of the Credit UnionPolitical Action Committee, which provides contributions toDemocratic and Republican pro-credit union New York State and localcandidates.

To order a copy e-mail [email protected] or call(800) 342-9835, ext. 8207.

–[email protected]

Dow Louisiana Federal CU Taps New Commercial ServicesExecutive

PLAQUEMINE, La. — Shawn Zenon has joined Dow Louisiana FederalCredit Union's senior management team as vice president ofcommercial services.

Zenon previously worked at International Bank of Commerce,located in Austin, Texas, where he served as first vice president.His career experience includes credit administration, secondarymarketing, underwriting, sales and operations, according to the$150 million credit union.

“With Shawn's extensive experience in the commercial servicesindustry, he is the ideal person to lead DLFCU within the businessand professional community, particularly in the new markets we'reentering,” said Jeff Hendrickson, president/CEO.

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Experian Unveils B2B Credit Score

COSTA MESA, Calif. — Experian has launched Intelliscore Plus, anew business-to-business credit score that aims to minimize riskprovide an assessment of future business delinquency.

Utilizing key information entered in an inquiry, IntelliscorePlus returns a score “highly predictive” of business payment,according to Experian. The user can inquire on the business only,the business owner only, or a blend of information on both thebusiness and the business owner.

Experian said for identifying risk in small businesses, blendeddata has proven the most predictive in the industry, addingresearch has shown that blended scores capture 46% more smallbusiness deterioration than commercial data alone. The new creditscore also features an approach to evaluating large businesses thatsignificantly improves targeting of large-business risk.

The new score employs statistical techniques and combines morethan 800 commercial and owner variables, including trade line andcollections information, recent credit inquiries, public filings,new account activity, and key financial ratios. Intelliscore Plusalso offers the ability to include up to four business owners orguarantors on one report.

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Michigan First CU Launches EZ Scan&Deposit OnlineService

LATHRUP VILLAGE, Mich. — Michigan First Credit Union launched EZScan&Deposit, an online service that allows consumers andbusinesses to scan checks from home or the office and directlydeposit them into a Michigan First savings or checking account.

EZ Scan&Deposit allows members to log into their MichiganFirst account online and scan the check using any TWAIN-complaintscanner. The scanned check image is then uploaded into the MichiganFirst secure database. The check is verified and deposited directlyinto the selected account.

“We're committed to providing high-tech products that make thelives of our members easier,” said Michael Poulos, president/CEO ofMichigan First. “With our new EZ Scan&Deposit' service, you canenjoy being part of a trustworthy credit union without everstepping foot in one of our branches.”

A step-by-step video tutorial about EZ Scan&Deposit isavailable on the Michigan First Web site athttps://www.michiganfirst.com/video/ezscan_video.html.

–[email protected]

Marketer Says Obstacles to Business Services Are NotInsurmountable

KANSAS CITY, Mo. — The objections to moving into the businessservices marketplace are as varied as the credit union industryitself. However, the returns may have more leverage.

Lisa Renner, CEO of Beyond Marketing LLC, a marketing servicesCUSO subsidiary of Mazuma Credit Union, said there are threemessages to overcoming objections to business services: marketingis very similar to marketing to nonbusiness owner members; a creditunion's differentiation, like their ability to build relationships;and every credit union has at least one demographic pocket ofopportunity.

“Business services cannot be just a loan officer sitting behinda desk,” Renner said. “It must be someone who is engaged in thecommunity and actually getting involved in the local chamber ofcommerce, building a network through business fairs, building anetwork of CPAs, attorneys and other resources they can use to helpand support their business clients.”

Renner said the demographic pockets that will experience thefastest growth in the next 10 years are the women business owners,young entrepreneurs, immigrants and baby boomers. Differentiationfor credit unions from banks can start with built-in strengths, sheexplained. Known for building relationships with members, smallbusiness owners are looking for the same type of connection.

The $358 million Mazuma CU followed that lead when ittransitioned its relationship piece from the member-consumer sideto the businesses side. For example, a business services architectwas hired, not just a business development representative out inthe marketplace.

“The business services architect builds blueprints of belief.They work with the small business owners, listen to the ownersoutline their current situation and where they want to go in thefuture,” Renner said. “It's really about that listening and saying,'We believe in you, we're your partner, your credit union, andwe're going to be here working with you.'”

–[email protected]