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Contacts: David Frankil
703-842-2226
dfrankil@nafcu.org
Amy Hearn
800-826-9384, ext. 13006
amy.hearn@alliedsolutions.net
FOR IMMEDIATE RELEASE
December 14, 2009
FREE WEBCAST FROM ALLIED SOLUTIONS AND NAFCU SERVICES ON INNOVATIVE NEW CPI PAYMENT RECALCULATION TOOL
WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) recently introduced a free webcast focused on a new tool from Allied that automates the sometimes daunting process of re-calculating borrower loan payments when Creditor Placed Insurance (CPI) policies change. Credit unions can see staff time savings of up to 75 percent with much greater accuracy versus a manual, labor-intensive process that is often prone to miscalculation.
The free online video features John Harcourt, second vice president for Allied Solutions and an expert in the field. John offers an explanation of CPI coverage, why and when payment recalculations occur, and the features and benefits of an automated tool. The webcast and handouts can be found at www.nafcu.org/allied.
“Solutions like CPI have always offered credit unions a major profit opportunity that also meets member needs,” according to John Harcourt. “As margins continue to get squeezed and other sources of potential revenue are diminished or removed, we expect CPI activity to increase – all the more reason to automate the process to maximize productivity.”
“This is a win-win situation,” said David Frankil, president of NAFCU Services Corporation. “Taking costs out of the back-end process will allow credit unions to provide more effective and affordable CPI protection to members.”
About Allied Solutions
Allied Solutions is a leading insurance and financial services company that has been working with financial institutions for more than 26 years, and is the NAFCU Services Corporation Preferred Partner for CPI. Allied Solutions has relationships with more than 2,600 financial institutions around the country. It provides innovative, value-added products and services that give its clients a competitive advantage and support them with a level of service that is unsurpassed.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry's leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 28 Preferred Partner programs to the credit union community. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.
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