INDIANAPOLIS, Jan. 8, 2009 (GLOBE NEWSWIRE) -- The Indiana Credit Union League (ICUL) Services Corporation (Servicecorp) has renewed an agreement with John M. Floyd & Associates (JMFA), of Baytown, TX, to be the association's preferred supplier for overdraft privilege services.
JMFA Overdraft Privilege(r) is an automated program that enables credit unions to increase their non-interest income by 50 to 300 percent and reduces the time credit union staff spends on handling and processing NSF items. This allows them to devote more time to enhancing member service initiatives. In addition, the program provides credit union members with a cost-effective safety net that covers their transactions in the event they make a mistake on their account or face an unexpected financial emergency.
"In today's challenging economic times, consumers have come to expect services from their financial institutions that provide financial stability," said JMFA CEO John M. Floyd. "JMFA Overdraft Privilege(r) helps credit union members avoid the embarrassment and added expense of paying merchant penalties for NSF checks."
Diana Arnold, Servicecorp chief operating officer, explained that JMFA's dedication to regulatory compliance along with its extensive experience of providing programs that enhance the performance and profitability of financial institutions are very beneficial to Indiana credit unions.
"In today's market, credit unions must be able to offer affordable products and services to their members to remain competitive," she said. "JMFA has been an outstanding partner as they recognize the credit union philosophy and support it through the development and implementation of programs like JMFA Overdraft Privilege(r) that looks out for the financial well-being of our members and provides an avenue for our credit unions to increase their bottom line."
About Servicecorp:
ICUL Services Corporation (Servicecorp) is a wholly owned subsidiary of the Indiana Credit Union League. Its corporate objectives include providing a framework for credit unions to pool resources in order to address mutual interests, protect common interests, benefit from cost sharing and pursue a more self-sufficient cooperative system. In addition, it seeks to provide competitively priced quality services that enhance the success, viability, competitiveness, and longer-term strategic positioning of credit unions, with the emphasis of its fee-based services being on the benefits of combined volume and shared specialization. To learn more about Servicecorp, please visit www.servicecorp.com or call 800-285-5300 ext. 5359.
About JMFA:
With more than 30 years of experience in financial services consulting, JMFA is a profitability and performance improvement consulting firm, serving more than 2,000 financial institutions in all 50 states and Central America. As a direct result of its programs, JMFA has helped thousands of clients dramatically improve their performance and their bottom line. To learn more about JMFA, please visit www.JMFA.com or call 800-809-2307.
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