In 2008, CEFCU acquired the San Jose-based Valley Credit Union in a purchase and assumption agreement after the California credit union had been placed into receivership.
Even though the credit union has been growing its members, deposits and loans by double digits, the San Jose market is very large and CEFCU needed to increase its brand recognition among consumers, CEFCU President/CEO Mark A.
I had the pleasure of working for Stan, who led CEFCU
to new heights - implementing share drafts, credit cards, ATMs - and a locally shared ATM network, mortgage lending, and the list goes on.
By implementing VSoft's suite of imaging solutions, CEFCU can capture check images at their branch and merchant customer locations and transmit image cash letters for clearing.
By utilizing VSoft's comprehensive solution line, CEFCU will realize the benefits of straight through image processing from creation, processing and transmission of the check images to long-term storage and retrieval," said Murthy Veeraghanta, president, VSoft Corporation.
We can now compare the credit union to a list of more than 50 other institutions nationwide for an objective assessment of how well the teller lines at CEFCU
CEFCU, which serves 280,000 members in central Illinois, began offering student loans in a market where almost no banks or credit unions had such a program.
In addition to offering in-school student loans, CEFCU also has received many requests from for consolidation loans from recent graduates and their parents, who are looking for ways to combine student loans to get a better handle on monthly payments.
is a participant in the "Starting a Credit Union Program" from CU*Answers, a core processing CUSO based in Grand Rapids, Mich.
Credit Manager Doug Higgins said CEFCU
enlisted the services of the CUSO in light of regulatory changes and to streamline its student lending process; the CU had a goal of originating $5 million in student loans this year, which Higgins said it will meet comfortably.