Co-op Solutions Sponsors 2022 Presidents Cup Golf Tourney, Donating All Benefits to CMN Hospitals8/22/2022 Co-op Solutions has announced it is a sponsor of the prestigious 2022 Presidents Cup golf tournament, and is donating its allotment of tickets for credit union leaders and all benefits of sponsorship towards fundraising on behalf of Children’s Miracle Network Hospitals. “We at Co-op could think of no better way to celebrate our inaugural sponsorship of the Presidents Cup than to donate it in support of CMN Hospitals’ mission to save and improve the lives of as many children as possible,” said Samantha Paxson, Chief Experience Officer, Co-op, and a CMN Hospitals Board of Directors member. “Not only will fundraising be connected directly to the tournament, but we are also extending our #shadesupFOREkids campaign, which continues to benefit both CMN Hospitals and the National Credit Union Foundation by raising funds and awareness of the importance of financial and medical well-being.” The Presidents Cup is a series of men’s golf matches between a team representing the United States and an international team, which this year will be held September 21-25 at the Quail Hollow Club in Charlotte, North Carolina. Though some of the world’s top professional golfers participate, it is a charitable event with no prize money awarded. Since the event’s inception in 1994, more than $54.4 million has been raised for charity from event proceeds. Fundraising to Help Sick Children Receive the Treatment They Need Co-op is offering tickets to its credit union industry partners, clients and friends for a day on the course. Tickets are on a first-come, first-served basis, and each registrant may reserve up to two tickets. The recommended donation is the face value – or a portion of it – of each ticket, which ranges from $100 to $500. All proceeds will benefit CMN Hospitals via the industry’s charitable arm, Credit Unions for Kids. The experience includes access to 1) 2022 Presidents Cup entrance ticket, 2) fully-hosted food and beverages at Presidents Cup event, 3) exclusive air-conditioned suite – the Co-op Solutions suite; and 4) private shuttle to and from Quail Hollow Club. To learn more and register, go to Co-op’s event page here. "This donation by Co-op is a tremendous boost for Credit Unions for Kids fundraising on behalf of CMN Hospitals,” said Nick Coleman, Director, National Strategic Partners for CMN Hospitals. “The credit union industry is the fifth-largest contributor to our charity, helping us provide 32 million treatments each year through 170 member hospitals in the United States and Canada. Credit Unions for Kids is a critical partner in our local hospital fundraising and it’s a relationship we hope will flourish throughout the country to bring needed care to families in our communities.” #shadesupFOREkids Taking Place in Run-up to Presidents Cup In advance of the event, Co-op is extending its #shadesupFOREkids initiative, with proceeds going equally to CMN Hospitals and the NCUF’s Financial Well-being for All. Anyone can participate and it’s easy: Co-op encourages everyone in the credit union industry to take selfies on-board their airline flights with the window shade up. Then, post the photo on individual social media accounts using the hashtag #shadesupFOREkids. Co-op will make a $10 donation for every selfie posted with the hashtag, up to $10,000. “Co-op has been a supporter of Credit Unions for Kids since its founding in 1996 to raise funds for the industry’s charity of choice, CMN Hospitals,” said Todd Clark, President/CEO of Co-op. “Our Co-op Miracle Match program was created in 2009 to help credit unions maximize the funds they raise in the great effort of helping children receive the care they need regardless of ability to pay, further demonstrating the credit union mission of people helping people. We want to encourage more credit unions across the country to participate in fundraising, which is why we wanted to offer up our sponsorship.” To learn more and register for the event, please visit the events page here.
0 Comments
--Computer Services, Inc. (CSI) (OTCQX: CSVI), a leading provider of end-to-end fintech and regtech solutions, announced today it has entered into a definitive agreement to be acquired by Centerbridge Partners, L.P. (Centerbridge), a global, multi-strategy private investment firm with deep experience investing in financial services and technology, and Bridgeport Partners (Bridgeport), a private investment firm with a long-term, value-oriented approach, in an all-cash transaction valued at approximately $1.6 billion, or $58.00 per share. The transaction follows a robust strategic review process and was unanimously approved by CSI’s board of directors. Under the terms of the agreement, CSI shareholders will receive $58.00 per share in cash upon the closing of the transaction, which is expected to occur in the fourth quarter of calendar year 2022, subject to customary closing conditions, including CSI shareholder approval and regulatory review. The per-share purchase price represents a 53% premium to CSI’s closing stock price on Aug. 19, 2022, the last full trading day before the agreement was announced, and a premium of 54.4% over CSI’s 30-day volume-weighted average share price. “After a thorough strategic review, the CSI board of directors is very pleased to announce this transaction and believes it is in the best interests of our shareholders,” said Steve Powless, CSI’s Chairman of the Board. “Upon completion of the transaction, CSI intends to continue operating under the leadership of CEO David Culbertson and the CSI leadership team, with its headquarters expected to remain in Paducah, Kentucky.” Further, in connection with the transaction, all members of the CSI board of directors and Founder and Chairman Emeritus John A. Williams have entered into a voting and support agreement to vote in favor of the transaction. Mr. Williams commented, “Having formed CSI nearly six decades ago, I am pleased to support this transaction as it will provide shareholders with immediate cash at a compelling value premium. In addition, I believe that our customers, employees and communities can rest assured that—based on their history—current management, Centerbridge and Bridgeport will continue CSI’s legacy.” CSI’s long history of delivering end-to-end, market-leading solutions includes serving nearly 2,600 customers in the U.S. and in 30 other countries while pioneering innovative technology advancements. “For more than 57 years, CSI has been known as a leader in innovation and customer service. Centerbridge and Bridgeport have deep experience in technology and financial services as owners and operators. Working together after the closing, CSI intends to execute our strategic plans to expand and diversify our product offerings, transform our technology to leverage the scale and resiliency of the public cloud, and deploy optimized fintech and regtech solutions through our open banking and banking-as-a-service initiatives,” said David Culbertson, CSI’s President and CEO. In working with Centerbridge and Bridgeport, CSI plans to carry on its tradition of excellence and continue to invest in its product roadmap to bring more solutions to market faster. “Supporting high-quality companies is central to our strategy at Centerbridge, and we have a deep track record of doing so in both financial services and technology. We are excited to work with CSI, as we share a like-minded commitment to innovation for customers and satisfaction for employees,” said Jared Hendricks, Senior Managing Director at Centerbridge and Ben Jaffe, Managing Director at Centerbridge. “CSI has a long, distinguished history in Paducah, Kentucky, as well as other local communities across the nation. We plan to continue our commitment and investment in these communities to further foster the CSI legacy.” Centerbridge and Bridgeport bring years of experience driving growth and value for businesses across a variety of industries. “I am pleased to have this opportunity to partner with Centerbridge on the acquisition of CSI, a company that I have followed closely for decades and have respected as a real leader in financial services and technology,” said Frank Martire, Bridgeport’s Founder. “CSI has always been known for its commitment to its customers, employees, partners and the communities it serves—a reputation that Centerbridge and Bridgeport are committed to maintaining while we work together with David and his team to implement the company’s growth initiatives.” For more information about CSI, visit csiweb.com. Eltropy, the industry-leading Digital Communications platform for financial institutions, today announced the acquisition of Marsview.ai, the AI platform for conversational intelligence. By layering Marsview’s AI technology on top of Eltropy’s platform, Credit Unions and Community Banks have access to a single solution combining both human and virtual agents to deliver the best digital experience for their consumers. Marsview automates the understanding of consumer intent in Text, chat, video and voice so agents can quickly route consumers to the appropriate person or department, automate time-consuming tasks, and offer 24/7 support, even when agents are offline. Rather than juggling multiple vendors, Credit Unions and Community Banks can now use Eltropy to meet all of their digital communication needs. Eltropy already enables financial institutions to connect with consumers in the channel of their choice—whether that’s via Text messaging, phone, video, Secure Chat or in branch. The addition of Marsview’s advanced conversational AI helps financial institutions further streamline responses to common consumer questions, such as inquiries about account balance and routing numbers. The end result is a seamless, customized digital experience that in turn improves CSAT scores. “The challenge for financial institutions today is being able to quickly address consumer needs across a variety of new digital communication channels without adding more staff,” says Ashish Garg, Eltropy Founder and CEO. As a result of the Marsview acquisition, Credit Unions and Community Banks will enjoy the following AI-powered capabilities in everyday interactions with consumers within the Eltropy platform:
“The widespread digital transformation taking place in today’s market, offers an opportunity for financial institutions to leverage the power of AI,” said Murali Mahalingam, Marsview CEO. The Marsview acquisition closely follows Eltropy’s acquisition of Video Banking leader POPi/o and bolsters Eltropy’s efforts to build an all-encompassing digital communications platform for Credit Unions and Community Banks. By combining forces with Marsview, Eltropy offers Credit Unions and Community Banks cutting-edge, AI-powered technology needed to strengthen customer relationships, balance staff across multiple locations and deliver the highest standard of personalized service that today’s consumers expect. To learn more about Eltropy’s acquisition of Marsview, please visit: https://eltropy.com/marsview/. Bonifii is excited to announce that its premier digital identity and fraud prevention solution, MemberPass®, has been significantly strengthened and improved. The next generation of MemberPass is released and available for credit union implementation today! MemberPass was the first completely secure form of digital identity verification. It’s owned and controlled by members and is simple to use as personal authentication for all transactions and web commerce. Secure identity verification is essential today. The use of digital channels for routine financial transactions has grown exponentially in the past two years. Now, it’s nearly universal. This, in turn, carries substantial risk. Per the FTC, consumers lost $5.8 billion to financial fraud in 2021. The total was up more than 70% from the losses reported in 2020. This reality is what makes MemberPass an indispensable tool for credit union members. The original release of MemberPass helped credit unions in several important ways. They learned it enabled them to:
The new next gen MemberPass adds these great benefits:
“We are committed to protecting our members accounts by offering best of breed technologies. Next gen MemberPass allows our members to authenticate themselves across any channel through a seamless safe, secure, and private experience in less than 10 seconds” Tim Ferrio, Team One Credit Union. By offering best in breed authentication technologies such as biometrics, enhanced cryptography, and AI, the next generation of MemberPass can provide our members a superior user experience by securely and privately authenticating their identity for e-commerce transactions, ITM’s, visiting a branch, contacting a call center, or logging in to online banking” Zach Eychaner, 4Front Credit Union An opportunity to learn more Bonifii will showcase the next generation of MemberPass during the Jack Henry Connect conference from August 29 through September 1. Anyone interested to see the demo should contact Dante Terrana at dterrana@memberpass.com or visit the web site at www.memberpass.com. Member Driven Technologies (MDT), a CUSO that hosts the Symitar core processing system from Jack Henry™ to provide a private cloud alternative for core processing and IT needs, today announced that it has been named a 2022 Cool Place to Work in Michigan by Crain’s Detroit Business. MDT ranked no. 15 among the medium-sized companies on this year’s list. The rankings were determined based on a confidential employee survey evaluating workplace culture, company leadership, benefits and growth opportunities. MDT employees commonly cited the flexible work environment, commitment to employee growth and development, competitive benefits and empathetic culture as reasons the CUSO is a great place to work. MDT perpetuates a ‘family-first’ philosophy, encouraging employees to prioritize their loved ones and physical and mental health above all. MDT not only supports its employees but the Detroit-area community as well. This year, MDT’s Social Justice Committee partnered with the Pearls of Service Foundation for the second year in a row to offer two $5,000 scholarships for graduating high school students in the city. MDT’s pride in its community is also demonstrated throughout its company headquarters, which are filled with graffiti artwork from local Detroit artist Antonio “Shades” Agee, highlighting Detroit history. “Fostering a collaborative, welcoming and fun company culture has always been one of our top priorities which is supported through our consistent recognition from Crain’s Detroit Business,” said Larry Nichols, CEO and president of MDT. “The past two and a half years have been tough on our employees both personally and professionally, so we have done all that we can to lead with compassion and provide the flexibility they need. MDT’s success is made possible by our hard-working, creative employees, and we’re proud to foster a culture where every opinion is valued and every voice is heard.” Visit here for more on MDT career opportunities. With nearly 20 years of service to the community, the Alaska USA Foundation is committed to organizations that assist children, veterans, and active-duty military members and their families. Recently, $150,000 was donated to local nonprofits in Alaska, Arizona’s Maricopa County, California’s High Desert, and Washington. $5,000 was donated to Kids’ Corps, Inc., in support of their programs, which include Head Start, Early Head Start, Anchorage School District Collaborative and Parents as Teachers. Kids’ Corps, Inc.’s mission is to provide high-quality, comprehensive programs to children and families which promote sound intellectual, physical, social, and emotional growth. $5,000 was donated to the Veteran’s Success Center (VSC) at California State University, San Bernardino. The VSC provides family support for veterans attending the university and the funds are used for the family Thanksgiving celebration, financial literacy, homeowner workshops, the veterans’ success scholarship, and the veterans’ emergency fund. $10,000 was donated to Arizona Housing Coalition in support of the Arizona Veterans Stand Down Alliance, which helps homeless veterans access vital medical, mental health, and substance abuse services. $10,000 was donated to Greater Hope Foundation of Barstow, California, in support of their Family Hope Connections Project. The project connects foster children and families with trained professional clinicians in engaging, age-specific, therapeutic, and educational activities. $10,000 was donated to Great Alaska Council Boy Scouts to continue supporting the staff, volunteers, and the Traveling Day Camp program, offering opportunities to children who otherwise would not have access to scouting. $10,000 was donated to Kenai River Fishing Association in support of the Jr. Classic program that provides an opportunity for military children to learn about water safety and enjoy a day of fishing on the Kenai. $10,000 was donated to the Phoenix Children’s Hospital Foundation to support their services and assist them in remaining one of the nation’s leading pediatric hospitals. $10,000 was donated to Special Olympics Alaska in support of Camp Shriver Alaska. The camp provides a place for youth with and without intellectual disabilities to learn new sports skills, improve individual sport performances while providing education on health and wellness, leadership and advocacy, and family outreach. $10,000 was donated to Alaska Stand Down, Inc., which brings homeless veterans together to provide better access to the community resources needed to begin addressing their individual problems and rebuild their lives. $15,000 was donated to Camp Fire Alaska, to provide a safe, nurturing place for families to send their children, where they learn to develop self-confidence by challenging themselves, exploring their environment, and building healthy relationships. $15,000 was donated to Together! in Tumwater, Washington. The funds go directly to the Together! Club House program, which serves youth and families in the South Sound, providing integrated academic, health and social services along with youth development and community engagement to low-income, struggling students. $20,000 was donated to Cancer Support Community Arizona in support of their youth and veteran programs that fulfill their mission to ensure all people impacted by cancer are empowered by knowledge, strengthened by action, and sustained by community. $20,000 was donated to Big Brothers Big Sisters of Alaska, whose mission is to create and support one‑to-one mentoring relationships that ignite the power and promise of youth, so they can achieve their full potential. “The Alaska USA Foundation is so grateful to our supporters that allow us to provide much-needed funds to nonprofit organizations that do so much for all of our communities,” said Dan McCue, Executive Director, Alaska USA Foundation. “These organizations impact the communities we serve and provide services that allow a better experience for children, veterans, and active-duty military personnel and their families.” "Existing home sales fell for the sixth straight month in July. Outside of the immediate onset of COVID in 2020, July sales levels were the lowest of any month since 2014. Supply remains tight, but conditions are improving modestly as a result of the slower sales pace. Inventory levels reached 3.3 months of sales in July, which is the highest level in over two years but is still about half of normal levels. Higher borrowing rates and lower demand have resulted in a slower construction pace, which limits trade-up possibilities for current homeowners. Price growth has cooled somewhat but the median price is still up 10.8 percent versus a year ago. Homes on the market sold in an average of 14 days in July, which was unchanged from the prior month and the lowest figure on record dating back to 2011. The housing market is starting to show signs of stabilizing, but improvement is unlikely without a large drop in rates or the appearance of a substantial quantity of inventory." - NAFCU Chief Economist and Vice President of Research Curt Long Digital banking provider, Bankjoy today announced that it has joined the Jack Henry™ Vendor Integration Program (VIP). Participation in the program will provide Bankjoy with access to Jack Henry’s technical resources to enable Bankjoy’s digital banking platform to integrate with Symitar. The Vendor Integration Program is designed to ensure that Jack Henry’s customers can easily deploy third-party products. Bankjoy’s digital banking platform will now integrate with Symitar via jXchange™, a services-based programming interface that enables third-party vendors to access the platform’s core data and business rules. The integrity of data is maintained throughout any data exchange, because access to business rules and data is managed through a service layer which governs these interactions. Engineered by credit union executives, Bankjoy delivers modern banking technology, including mobile and online banking, e-statements, online account opening, online loan origination, and conversational AI to financial institutions of all sizes. With its comprehensive suite of online and mobile banking features that integrate directly with Symitar and other third parties, Bankjoy makes it easy for Jack Henry’s Symitar customers to offer a seamless digital banking experience for their members across all channels. “For most financial institutions, online and mobile channels have become as important—if not more important—than branches and ATMs. Data shows that mobile banking is now the primary method that consumers use to access their accounts, surpassing visits to physical locations,” said Michael Duncan, CEO of Bankjoy. “Joining the Jack Henry Vendor Integration Program ensures our credit union clients are able to quickly and easily deploy Bankjoy’s online and mobile banking platform to deliver an exceptional digital banking experience for their members. We’re proud to participate in this program and make a positive impact in how credit unions empower members to manage their finances.” Jack Henry’s VIP takes the customer out of the middle, providing vendors with direct access to Jack Henry’s technical resources and test systems. VIP inclusion is not an endorsement of the vendor’s product. The 2022 CUES Emerge program is one step closer to identifying the top emerging leaders in the credit union industry. Thirty up-and-coming professionals were selected to take part in the program; 27 self-selected into the competition phase to have their submitted business cases reviewed by a panel of judges. The four judges reviewed all entries and identified the top five finalists to participate in the online pitch show, powered by Currency. The five finalists are:
John Pembroke, CUES president/CEO said, “Once again, our CUES Emerge program attracted a number of strong applicants. They worked hard throughout the education and competition phases and presented intriguing business cases for our judging panel. The five finalists chosen have a wide range of business cases that address challenges and bring new ideas that many credit unions share.” “The CUES Emerge program continues to be a keystone program for Currency Marketing. We appreciate the partnership with CUES and applaud the cohort of credit union professionals who threw themselves fully into the program. The discussions during the education sessions and the Mastermind sessions helped deepen the learning, and broaden the scope of knowledge for all participants,” said Tim McAlpine, Currency president. The five Finalists will take to the virtual stage and present their business cases during a live online pitch show, on October 5. Tune in to hear from these talented leaders and support their journey. Following the live show, the judges will select the Top Three, and the ultimate 2022 CUES Emerging Leader will be named. All members of the Top Three will receive a tiered educational and coaching package to support continued development and growth within the industry. Follow along with the next stage of the competition at CUESEmerge.com. PSCU, the nation’s premier payments credit union service organization (CUSO), has announced that Hawaii Community Federal Credit Union (HCFCU) has selected the CUSO for credit and debit processing support and services. Headquartered in Kailua Kona, Hawaii, HCFCU began as the Kona Farmers Federal Credit Union in 1936 to support farmers’ needs for loans and additional financial services during the Great Depression. Officially becoming HCFCU in 1991, the credit union has expanded exponentially and today serves the entire Hawaii island while remaining committed to its fundamental philosophy of helping members join together to help each other succeed. With more than $809 million in assets, HCFCU was searching for a robust solutions provider that would deliver a highly functional, reliable and secure debit and credit card program to its members. “PSCU has everything we were looking for in a partner, particularly the level of innovation and resources necessary to provide the high-quality member experience we desire,” said Jason Ayers, Vice President of Lending at HCFCU. “We are extremely pleased to partner with PSCU to elevate and enhance our card programs, and we are eager to kick off what we expect to be a long-lasting relationship.” PSCU will begin providing credit and debit processing services and support to 46,600 HCFCU members in February 2023. “HCFCU’s dedication to its origin of empowering and serving its community resonated with PSCU’s commitment to providing the highest caliber of service,” said Chris Gunnare, SVP, chief sales officer at PSCU. “It is an honor to welcome the credit union to the growing PSCU family as we continue to expand our footprint in The Aloha State. We look forward to providing HCFCU and their members with cutting-edge technologies and best-in-class services – and an unparalleled member experience.” |
Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
May 2024
Categories |