Press Release
One of the Largest Credit Unions in the U.S. Chooses CUBUS Solutions' Products
Teachers Federal adds electronic statements to support paperless transactions
LIVERMORE, Calif., July 19, 2010
CUBUS Solutions, a leader in online banking solutions for credit unions, announced today that one of the largest credit unions in the country, Teachers Federal Credit Union (TFCU) has chosen the CUBUS Solutions' CUStatements to add to their delivery of next generation online banking services to members.
TFCU has more than 217,000 members and over $4 billion dollars in assets. CUStatements is the second CUBUS product in use by the credit union, which continues to develop their online channel as a crucial area of ongoing growth.
"We view the online channel as a key aspect of our overall delivery strategy. Offering tools to our members to help them better manage their financial lives is a great way to expand the depth of our relationship with them," said Myk Valentin, SVP of Information Systems of Teachers Federal Credit Union. "Adding the CUBUS electronic statements system to our mix of other CUBUS products, is not only paper reducing and environmentally responsible, but also extends our philosophy of offering a full-service online solution that is convenient and easy for our members to use."
"Teachers Federal Credit Union is an example of our ability to scale to service a top 50 credit union," said John-Ashley Paul, CEO, CUBUS Solutions. "They have been a customer for over eight years and throughout, we've worked collaboratively to implement services that enhance their member's experience and achieve greater operational efficiency through our online banking products and platform."
CUStatements is an electronic statement management system that supports month-end, credit card, mortgage and tax statements in easy to use PDF format. CUStatements lets members view several years of statement history online, increases e-statement efficiency with integrated email bounce managements and saves thousands in paper cost.
Based on U.S. Postal estimates, over 687,000 tons of paper are utilized every year in the United States in the form of banking statements, monthly billing statements, the checks used to pay them, and the envelopes in which they are sent. If every U.S. household went "paperless" for its banking and bill paying needs, over 16.5 million trees would be saved.
Teachers Federal Credit Union is currently using the CUBUS product, CUAlerts, which lets members set up custom electronic alerts such as when account balances goes above or below a certain level, how many times a day to receive alerts, specific email addresses and more.
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About CUBUS Solutions
CUBUS Solutions, headquartered in Livermore, CA, is a software company that provides expert cost-saving and green business applications to Credit Unions helping them better serve and retain their members through innovative service offerings, more efficient and cost-effective operations, and creative membership programs. The company has a suite of software solutions specifically for Credit Unions which additionally include Member Notifications, Points Management and Loyalty Checking solutions. CUBUS Solutions, which is privately held, was founded in 2006 by a group of long time industry professionals who previously worked as a team at a well-known Credit Union core system provider. For more information visit www.CUBUSSolutions.com.
Media contacts
Ginny Cain
Cain Communications for CUBUS Solutions
Direct: 925.426.0646
Mobile: 510.918.0331
Email: ginny@ginnycain.com