Trust for Credit Unions

CUSO Welcomes New Owners

At its October 23rd meeting, the Board of Directors for Xtend, Inc., a Grand Rapids, Michigan-based multi-owned cooperative CUSO, welcomed four (4) new credit unions to its ownership ranks.  With the new owners, the twelve year-old CUSO now has eighty-two (82) equal stockholders.

Xtend President Scott Collins felt that the new owners were “a validation that our customer-owned business model continues to have strong appeal to credit unions regardless of size, geography or charter.”  Collins noted, “The credit unions in the market we serve have certainly embraced our shared resources offerings over the past decade, and the desire to participate at the ownership and leadership levels has mirrored our growth as a company during that time frame.  Our ‘class of 2014’ now includes nine (9) credit unions from six (6) different states which is really exciting.”

According to the CUSO, the new owners are Fife Lake, Michigan-based Forest Area Federal CU ($93M; 10.9K members), Chicago, Illinois-based First Financial CU ($68M; 8.3K members), South Bend, Indiana-based Notre Dame Federal CU ($467M; 58K members), and Alpena, Michigan-based Thunder Bay Credit Union ($22M; 3.1K members).

Big Quarter for CUSO E-Communication Brands

For Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, the final quarter of its fiscal year was a period of significant growth for its Member Reach e-communication business unit.  According to the CUSO, its Member Reach services, which include member e-statement notifications, targeted member messaging, electronic newsletters and business-to-business marketing campaigns, generated more than 1.7 million messages during the quarter that ended September 30th.

“During the past year, we have been focused on developing new and improved e-communication services for our credit union and CUSO clients,” said Xtend President Scott Collins.  “When the team delivered metrics for our last quarter of the year, it helped validate that our customer-owners were indeed embracing these changes.  2015 should be a huge year for our Member Reach team.”

Liz Winninger, Business Development Manager for the CUSO noted, “The team worked extremely hard during the past year to both enhance our existing offerings and roll out new HTML and e-newsletter services.  We not only added significant value for our clients our existing services, we also brought on an additional ten clients.  Our team now provides electronic communications for ninety-six (96) credit unions on a recurring basis, plus periodic support nearly two dozen more.  Our sights are set on 2 million messages this next quarter.”

Raise Awareness of ICU Day!

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS: Let Xtend help you raise member awareness of International Credit Union Day on October 16!

For just $25, Xtend will email your members a message about this important day! Just fill out the Member Connect Special Request Form by Friday, October 10.

You can elect to have us send your members our own pre-written content included on the form or you can provide your own content. We’ll also need you to fill in the send date(s) on the form. (Note: You may select to have just one email sent to your members or multiple emails.

Raise Awareness of ICU Day!

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS: Let Xtend help you raise member awareness of International Credit Union Day on October 16!

For just $25, Xtend will email your members a message about this important day! Just fill out the Member Connect Special Request Form by Friday, October 10.

You can elect to have us send your members our own pre-written content included on the form or you can provide your own content. We’ll also need you to fill in the send date(s) on the form. (Note: You may select to have just one email sent to your members or multiple emails.

Another Cooperative Investment Opportunity!

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNION CEOs: Another cooperative investment opportunity is knocking!

Check out the 36-month CD offering that Internet Archive Federal Credit Union has exclusively for you, their cuasterisk.com network partner!

To find out more about cooperative investment opportunities or to post your own investment opportunity for your network partners, visit the Xtend Cooperative Liquidity Exchange site.

 

Another Cooperative Investment Opportunity!

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNION CEOs: Another cooperative investment opportunity is knocking!

Check out the 36-month CD offering that Internet Archive Federal Credit Union has exclusively for you, their cuasterisk.com network partner!

To find out more about cooperative investment opportunities or to post your own investment opportunity for your network partners, visit the Xtend Cooperative Liquidity Exchange site.

 

Change to Company IDs for RRB Payments

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS: This message applies only to credit unions with member accounts that receive monthly Railroad Retirement Board (RRB) benefit payments via ACH.

ACTION REQUIRED: Change to Company IDs for RRB Payments

What changed?

We have just learned from The Payments Authority of a change occurring today. In accordance with NACHA operating rules, the Department of the Treasury’s Bureau of the Fiscal Service has changed two of the company IDs used for RRB payments effective today, September 25.

Starting with RRB payments dated September 25, the ‘3’ in the first position of the Company ID field will be changed to a ‘9’ as detailed below. The first monthly RRB payments affected by this change will be dated October 1, 2014 and have probably already begun arriving in your ACH warehouse files.

ACH Field Was(Prior to 9/25) Is Now(Effective 9/25)
Company Name(Field 3, positions 5-20) US TREASURY 303 RRB  TREAS 310
Company Identification(Field 5, positions 41-50) 3031736068OR3031736071 9031736068OR9031736071

What do credit unions need to do?

When you see these come in on the New Company Report (PACHD3) and/or the ACH Suspense Report (PACHSU), please perform the Copy/Merge function, which will copy the member transfers and account numbers to the new company and save you from having to manually perform this maintenance. Follow the steps below to perform the Copy/Merge function:

  1. Go to the ACH/Payroll Processing menu (MNACHP).
  2. Select Work with ACH Members/Companies.
  3. In the Company name field, enter RRB  TREAS 310.
    • Note that the spacing must be exact. RRB, two spaces, TREAS, one space, 310.
  4. Press Enter.
  5. Select the old company ID.
  6. Click Copy/Merge Dist.
  7. In the To company ID field, enter the new company ID.
  8. In the To company name field, enter RRB  TREAS 310.
    • Note that the spacing must be exact. RRB, two spaces, TREAS, one space, 310.
  9. Click Copy/Merge.
  10. In the confirmation pop-up that appears, click Add/Update.

After performing the steps above, when you go into the new company, you’ll see the new transfers and posting account numbers. To view the records that show the results of the Copy/Merge function, look for records with the wording “DEPOSITOR DELETED” in the Daily File Maintenance Report (LELOG2).

If you have any questions, please contact the Xtend SRS Bookkeeping team.

Learn More

Change to Company IDs for RRB Payments

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS: This message applies only to credit unions with member accounts that receive monthly Railroad Retirement Board (RRB) benefit payments via ACH.

ACTION REQUIRED: Change to Company IDs for RRB Payments

What changed?

We have just learned from The Payments Authority of a change occurring today. In accordance with NACHA operating rules, the Department of the Treasury’s Bureau of the Fiscal Service has changed two of the company IDs used for RRB payments effective today, September 25.

Starting with RRB payments dated September 25, the ‘3’ in the first position of the Company ID field will be changed to a ‘9’ as detailed below. The first monthly RRB payments affected by this change will be dated October 1, 2014 and have probably already begun arriving in your ACH warehouse files.

ACH Field Was(Prior to 9/25) Is Now(Effective 9/25)
Company Name(Field 3, positions 5-20) US TREASURY 303 RRB  TREAS 310
Company Identification(Field 5, positions 41-50) 3031736068OR

3031736071

9031736068OR

9031736071

What do credit unions need to do?

When you see these come in on the New Company Report (PACHD3) and/or the ACH Suspense Report (PACHSU), please perform the Copy/Merge function, which will copy the member transfers and account numbers to the new company and save you from having to manually perform this maintenance. Follow the steps below to perform the Copy/Merge function:

  1. Go to the ACH/Payroll Processing menu (MNACHP).
  2. Select Work with ACH Members/Companies.
  3. In the Company name field, enter RRB  TREAS 310.
    • Note that the spacing must be exact. RRB, two spaces, TREAS, one space, 310.
  4. Press Enter.
  5. Select the old company ID.
  6. Click Copy/Merge Dist.
  7. In the To company ID field, enter the new company ID.
  8. In the To company name field, enter RRB  TREAS 310.
    • Note that the spacing must be exact. RRB, two spaces, TREAS, one space, 310.
  9. Click Copy/Merge.
  10. In the confirmation pop-up that appears, click Add/Update.

After performing the steps above, when you go into the new company, you’ll see the new transfers and posting account numbers. To view the records that show the results of the Copy/Merge function, look for records with the wording “DEPOSITOR DELETED” in the Daily File Maintenance Report (LELOG2).

If you have any questions, please contact the Xtend SRS Bookkeeping team.

Learn More

Holiday Hours

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS: What are your holiday hours?

So that we can ensure we are adequately staffed to meet your staff and member needs during the holiday season, please let us know your holiday hours by October 1.

Holiday Hours Form

Holiday Hours

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS: What are your holiday hours?

So that we can ensure we are adequately staffed to meet your staff and member needs during the holiday season, please let us know your holiday hours by October 1.

Holiday Hours Form

http://www.xtendcu.com | Phone: 616.285.5711 | Toll Free: 800.327.3478 | Fax: 616.285.5735
WP-Backgrounds Lite by InoPlugs Web Design and Juwelier Schönmann 1010 Wien
Please wait...