Pennsylvania Credit Union Association

New Payroll Indicator Coming Soon

CO-OP Shared Branching surveyed a group of participating credit unions to find out whether a payroll check indicator should be added to identify payroll checks during a shared branching transaction. There were almost 400 respondents to the survey, they provided a lot of great feedback on the subject.

Some of the highlights from the survey included:

• 34% of credit unions surveyed currently give immediate availability for all payroll checks, and 36% of those surveyed give immediate availability when drawn on local or “known” employers.
• 68% of respondents thought a new “Payroll” indicator type would be great, while 31% answered that having just the “Immediate” and “Local” indicators would be sufficient.

After reviewing the responses, CO-OP Shared Branching is going to move forward with adding a payroll type indicator in the coming months. Please contact Sandy Shenk with any questions or comments on the subject.  More information will follow as CO-OP Shared Branching moves forward with communicating this with the data processors.

Income Tax Check Reminder

Now that tax season is here, front line staff will encounter income tax checks. 

CO-OP Shared Branching has Policies and Procedures that apply to the handling of income tax checks.

• Jointly payable income tax refund checks will be accepted only if both parties have endorsed the check and are joint owners on the account.
• Does not have a conditional/restrictive endorsement obligating the MSR or financial institution to events other than “to be signed in the presence of the teller” or “for deposit only” or similar wording.  This may apply to Refund Anticipation Loan checks.  We encourage members to take these checks to their credit union to review and verify endorsements prior to the item being deposited.

When it comes to income tax refunds, only government issued checks can be coded as immediate.  Tax refund checks from tax preparation services would be coded as local and may need to faxed to the issuer since these checks could be above the minimums outlined in the in-state policy and procedures.

If you have additional questions, please feel free to contact Sandy Shenk.

CO-OP Shared Branching 2011 Scheduled Maintenance Calendar

CO-OP Shared Branching scheduled maintenances for the year.

Date	Begin Time	End Time
March 8, 2011	3:00 a.m. EST	4:00 a.m. EST
June 7, 2011	3:00 a.m. EST	4:00 a.m. EST
August 23, 2011	3:00 a.m. EST	4:00 a.m. EST
November 8, 2011	3:00 a.m. EST	4:00 a.m. EST

During portions of this window, NGN will be unavailable for processing.  Please note the following:

• This will affect processing for My Deposit, Fast Branch, CO-OP Member Center, and CO-OP Mobile in addition to shared branching transactions.
• Daily NGN settlement reports will be distributed by 12:00 p.m. EST.
• At the conclusion of the maintenance period CO-OP Shared Branching may need to contact your credit union to bring host links back online if they do not reconnect automatically.

CO-OP Shared Branching recommends that you make sure your IT Staff or other staff is aware of these dates to plan accordingly.  We appreciate your patience as CO-OP Shared Branching strives to enhance NGN.  Please feel free to contact Sandy Shenk if you have questions or need additional information.

CO-OP Shared Branching Locator Website: Provides Access and Convenience

The CO-OP Shared Branching locator website, www.cuservicecenter.com, is a beneficial tool for participating credit unions and their members. With over 10 million views per year, the site is one of the most used credit union sites for members. The website allows members to locate over 4,200 shared branch locations across the U.S. and the world; members are also able to determine if their credit union participates in shared branching.

The website is updated at least on a weekly basis, giving members the most current listing of shared branching locations, including their address, phone number and business hours, as well as the total number of locations within the United States. Credit unions and members can find newly opened branches by signing up for weekly email alerts.  These notifications will provide credit unions a way to let their members know about the rapidly expanding branching network offered by their credit union.  It also ensures that acquirer locations, which have met quality standards, are listed quickly so guest-members may find their newly opened branch.  Members unsure if their credit union participates in shared branching can visit the site and click on “Does my CU Participate?” to find out if their credit union is among the list of over 1,600 participants. This information is taken directly from CO-OP Shared Branching’s database and updated in real time, so that any member who visits the site will know quickly if shared branching is available for their convenience.

Members on the go can also visit the site from their cellular device in a couple of different ways. iPhone, iTouch and iPad users can download the “Find Branch” app from the App Store to access the locator app from their devices. The mobile locator site is available for all other mobile phone users at http://m.cuservicecenter.com. CO-OP Shared Branching also offers the Credit Union Service Centers Call Center to those credit unions who participate, which allows members to call 24/7 to perform transactions, such as same account transfers, and receive account balances and transaction histories. This information is listed on the front page of the locator website, along with the toll free phone number for the call center.

Members who have a GPS device can download the complete list of Credit Union Service Centers to their navigation device by clicking on “Downloads” from within the locator website. For those who not have a GPS device, one can get turn-by-turn directions on the website, or by calling 800-919-2872.

As the most accurate site available to members, credit unions participating in CO-OP Shared Branching are encouraged to use www.cuservicecenter.com.

CO-OP’s Marketing Resource Center (MARC)

The convenience and access provided by shared branching is something every member should know about.  Through CO-OP’s Marketing Resource Center (MARC), credit unions can find the tools they need to launch an effective shared branching marketing initiative without the cost and effort of developing their own campaign.

Please visit MARC to view our new-for-2011 portfolio of marketing materials.  The new design includes tools such as:

• Statement insert
• Tri-fold brochure
• Direct mailer
• Poster/standee
• Location card
• Card holder book
• Web banner
• E-Statement Web banner

And don’t forget, other resources available on MARC include:

• CUSC Call Center promotional materials
• Tent cards
• Newsletter articles/inserts
• Window decals
• Stamps
• Postal letter templates
• MSR talking points

Please feel free to contact Sandy Shenk regarding any questions related to MARC.

CO-OP My Deposit: New Opportunity for Small Business Owner Clients of Credit Unions

As the United States begins a long effort to come out of the economic recession, many trends are lining up that could provide immense opportunity for credit unions in the small business arena.   The future of small businesses depends on having a vibrant, consistent and disciplined financial infrastructure to support new business creation, growth and ongoing performance. The time may certainly be right for credit unions to step up and become the engaged and vibrant financial partner to small business.  With this in mind, CO-OP Financial Services is expanding CO-OP My Deposit to allow credit unions the opportunity to reach out to small business owners, in providing an electronic submission of high volumes of checks to their credit unions for deposit.

CO-OP My Deposit originated in 2008, offering credit union members the ability to scan and deposit checks from the convenience of their homes.  The newly upgraded server-based application now eliminates the need for small business owners who have a higher volume of checks to go into an actual branch location.  The set-up is simple, a certified high-speed scanner and a personal computer with Internet access are the only items needed.  The advantages that CO-OP My Deposit offers small businesses include reduced float time, online revisions and adjustments, e-mail receipts, online history viewing, and automatic data capture and balance before checks are submitted to the credit union.

A robust risk and fraud assessment is done immediately, and all identifying information processed through the imaging product is stored so that duplicate checks cannot be deposited separately.  CO-OP My Deposit provides convenience to small-to-medium size businesses that need to deposit checks on a regular basis.  For more information, please contact Sandy Shenk.

CO-OP Member Center Marks One Year Anniversary as a CO-OP Subsidiary

Marking its first year as a CO-OP Financial Services subsidiary, CO-OP Member Center is approaching 300 credit unions on its client roster, with new contract activity including four of the 100 largest in the U.S.

“Since CO-OP Financial Services acquired CO-OP Member Center in November 2009, we have achieved some important milestones, including reaching the four million mark in total loan applications processed in our history, and the introduction of our Outbound Call Services,” said Mark Chatfield, Chief Operating Officer, CO-OP Member Center. “During 2010, we have added new credit union clients in 16 states and the District of Columbia.”

CO-OP Member Center offers a wide range of call center services exclusively for credit unions, including 24/7 lending, member services and outbound calling support. For more details please contact Sandy Shenk.

Masters of Innovation Highlight THINK 11

Seven speakers – all masters of innovative thinking outside of the credit union industry – have already been announced for THINK 11, taking place in Anaheim, Calif., May 14-18, 2011. 

To date, the line-up includes:

• Jeff Manning, known as the Godfather of the famous “Got Milk?” ad campaign.
• Sir Ken Robinson, author and creativity motivator.
• Jeanne Bliss, customer loyalty expert.
• Nancy Lublin, author of “Zilch: The Power of Zero in Business,” offering insights into how those in the not-for-profit world manage to accomplish more with less
• Susan Packard, co-founder and former COO of the HGTV cable channel.
• Tony Hawk, professional skateboarder and entrepreneur.
• Valerie Morris, our THINK 11 MC, and a financial journalist appearing on CNN. 

Learn more about THINK 11 speakers, and register free of charge at www.co-opthink.org.