LINO LAKES, Minn. — Sharetec Systems Inc. said it has signed two new credit unions to use its core processing system. They are the $11 million Los Alamos Schools CU in Los Alamos, N.M., and the $74 million Southwest Oklahoma FCU in Lawton, Okla. The New Mexico credit union currently is a CUMAS customer, while the Oklahoma CU runs on a USERS platform, according to their 5300 Call Reports at the NCUA. Sharetec Systems (www.sharetec.com) provides core processing systems to more than 300 credit unions and is owned by the four companies that serve as its regional distributors.
uMonitor Bolsters 2008 Client List
MEMPHIS, Tenn. — uMonitor's client list has expanded to more than 100 financial institutions, including about 60 credit unions, according to the provider of online acquisition and retention services.
Eighteen of those new clients are credit unions, the company said.
New users of the uOpen and uFund account opening and funding solutions include the $159 million CDC Federal Credit Union in Atlanta, the $1.2 billion CFE FCU in Orlando, Fla., and the $284 Quincy CU in Quincy, Mass.
New users of the uTransfer funds transfer service include the $486 million Michigan First CU in Lathrup Village, the $556 million Boeing Wichita Credit Union in Wichita, Kan., the $624 million AmeriCU in Rome, N.Y., the $615 million Utah Community CU in Provo and the $350 million Dort FCU in Flint, Mich.
"While some areas in financial services are experiencing operational challenges, management may perceive that this is not an ideal time for technology spending, however, what we have seen is quite opposite," said Dinesh Sheth, CEO at Memphis-based uMonitor (www.umonitor.com).
"Savvy executives at these banks and credit unions are using uMonitor solutions to improve their efficiencies while delivering the services that their customers and members demand," Sheth said.
Teres Software Integrated With Allied
AUSTIN, Texas — Teres Solutions Inc. said its SAIL automated lending software has now been integrated with the IQQ insurance placement software from Allied Solutions.
The partnership will allow the approximately 150 credit unions using the Teres software to more readily automate insurance quotes, approve and place them during the loan application and approval process, the companies said.
"Being able to deliver value-added products like these as part of the loan application process is essential to winning more business." said Tim Kelly, CEO of Teres Solutions (www.teressolutions.com) in Austin.
Indiana-based Allied Solutions (www.alliedsolutions.net) is a provider of automated insurance application management and other financial service products to more than 3,600 financial institutions.
Solutions in Finance Signs Three CUs
SAN JOSE, Calif. — Credit unions in Florida, New York and California have signed up for collections and lending operations consulting services from Solutions in Finance Inc., the company said.
They are the $193 million Bay Gulf CU in Tampa, Fla., the $2.2 billion Hudson Valley FCU in Poughkeepsie and the $1.3 billion Premier America in Chatsworth, Calif.
Bay Gulf said its focus was on the 22,600-member credit union's collection operation, including operational structure, collection processes, strategies and performance.
"We look forward to implementing their recommendations in all areas of our operation," said Bill DeMare, the credit union's president/CEO. "Their review was very detailed and thorough."
The San Jose-based firm (www.solutionsinfinance.com) currently has 41 clients, the company said.
–mrapport@cutimes.com
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