Arizona Credit Union System Partners With Floyd & Associates to Offer Overdraft Privilege Program - Program Helps Members Avoid Negative Consequences of Bounced Share Drafts (checks)
HOUSTON, TX - PHOENIX, AZ (ContentDesk) April 7, 2004 ?- Arizonans who bounce checks (share drafts) can avoid embarrassment, inconvenience and onerous costs, if their credit union offers a new overdraft privilege program being extended to affiliates of the Arizona Credit Union League (ACUL). The Arizona Credit Union System, represented by ACUL Services, Inc., has signed an agreement with John M. Floyd & Associates, Inc. (JMFA) of Houston naming the profitability-consulting firm as its "Preferred Business Partner" for the JMFA OVERDRAFT PRIVILEGE(SM) program.Credit union organizations in another 17 states, as well as CUNA and Affiliates, and IntegraSys?, a major core processor for credit unions, also have teamed with JMFA during the past year for its product www.OverdraftPrivilege.org)."The public is demanding value-added services like overdraft privilege," CEO John M. Floyd has told both the Consumer Advisory Council to the Federal Reserve System and the Consumer Federation of America.
"This discreet service avoids the embarrassment of members ?making good' on a share draft (check) with a valued retailer or creditor. Neither the accountholder nor the merchant loses time or productivity in straightening out an NSF (insufficient funds) mess," Floyd says. "Members don't wind up on retailers' bad check lists."Members can avoid multiple NSF charges from a merchant or late payment penalties on mortgages, car loans or tuition payments. They also can prevent negative entries on their credit record or potential visits from law enforcement for inadvertent -- but repeated-- bad share drafts or checks," he added."With overdraft privilege, Arizona credit unions have the opportunity to enhance member satisfaction while also increasing their non-interest fee income," noted Gary Plank, President and CEO of the League and the service firm.Overdraft Programs Vary WidelyJMFA, founded in 1973, is a leading provider of noninterest or fee income products to financial institutions. The company has installed profit improvement programs in 1,650-plus financial institutions, adding more than $10 billion in increased pre-tax earnings for its clients.
The company also has successfully implemented variations of its overdraft privilege program in more than 550 credit unions, banks and thrifts. "JMFA's overdraft privilege program (www.OverdraftPrivilege.org) is nondiscriminatory and guaranteed to be 100% compliant with federal and state regulations, as well as with recently suggested changes," Floyd emphasized. "Our program has a proven track record of producing more income and less charge-offs for financial institutions than typical NSF programs." He also disclosed:* Of 18,000 financial institutions in the United States, more than 2,000 are estimated to now have defined and communicated overdraft programs.* The typical fee charged on an insufficient funds (NSF) check is $17 to $35. The average is $22.50.* Studies indicate the average accountholder writes about 3.4 NSF items per year."A well-managed overdraft program is a win-win-win for the consumer, the merchant and the financial institution," he said. "Additionally, automated programs help identify troubled accountholders for necessary counseling."The Federal Reserve System, at the urging of consumer advocate groups, including the National Consumer Law Center, has been reviewing compliance issues concerning "bounce protection," "courtesy pay" and similar overdraft programs.
Some critics contend the programs need stricter controls under the Truth in Lending Act, however, the Fed decided in March 2003 to make no regulatory changes at that time, but to continue gathering information on the programs. Floyd has been speaking from coast to coast this past year emphasizing the multiple benefits of overdraft programs, as well as the unfair practices endemic to the implementation, marketing and management of some overdraft programs. Some bounce or overdraft protection programs are discriminatory, over-promote the service, under-educate consumers on its use and base overdraft limits on a "mystery matrix," he has advised consumers, regulators and bankers. Brian R. Witt, chairman of the Credit Union Committee of the American Bar Association, agreeing with Floyd's premise, stated in the May issue of Credit Union Magazine: "The hidden, unquantifiable costs of not covering overdrafts could be more insidious than the overdraft fees now imposed under current disclosure laws." JMFA creates strategic programs, including PRIVILEGE MANAGER CRM(TM) software, specific to each credit union, its organization and its market that maximizes all aspects of NSF revenue.
It then delivers expert training, marketing and software to assure successful implementation and full regulatory compliance.About the Arizona Credit Union League:The Arizona Credit Union League serves 65 federally and state-chartered credit unions with more than 1.3 million members.
The association provides member credit unions with consultation, legislative lobbying, regulatory compliance, marketing services, public relations, operational and technical assistance, education and training, and fee-based services. For more information, visit the ACUL Web site at. www.azcreditunions.coop.JMFA OVERDRAFT PRIVILEGE(SM) and PRIVILEGE MANAGER CRM(TM) are service marks or trademarks of John M. Floyd & Associates, Inc.
PRIVILEGE MANAGER CRM(TM) is patent pending.FOR MORE INFORMATION OR INTERVIEWS:John M. Floyd, CEO, John M. Floyd & Associates, Houston, 800-809-2307 or 281-424-3800; Web site:www.OverdraftPrivilege.org; e-mail, e-mail protected from spam botsPreston F. Kirk, APR, Kirk Public Relations, Austin TX, 830-693-4447; e-mail protected from spam botsLisa Drewry, Financial Services Consultant, ACUL Services, Inc., 602-264-6701 ext. 313 or 800-352-0387; 602-241-9498 fax; 602-770-3822 mobile; e-mail protected from spam bots.
Paid Subscription May Limit Growth of Online Dating Services
Fort Wayne, IN (ContentDesk) July 7, 2006 -- Ranked amongst the leading matchmaking sites online, Loversplanet.com (http://www.loversplanet.com) specializes in pairing men from the US, Canada, Australia, and Western Europe, with marriage-minded women from Russia and Eastern Europe, and recently conducted a survey of new visitors needs and expectations to improve their service.What the survey revealed: most visitors wanted to experience a trial membership before agreeing to become a paid subscriber of an online dating service. In particular, they wanted to email members and review deliverable results as part of their Free Trial Membership.In response, Loversplanet.com has launched a special offer for visitors from US, Canada, Australia and countries of Western Europe. With trial membership, users can exchange messages during the initial seven-day period and validate the quality service of the site. If satisfied, the trial subscription...
Paid Subscription May Limit Growth of Online Dating Services
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How to Conduct Personal Background Checks
You want to conduct a personal background check on a colleague, maybe even a prospective mate, but you're not quite sure how to go about it?
Before you spend a fortune on private investigators, you might want to try a little gumshoeing of your own.The net is teeming with search engines and public records just waiting to be explored. You might have to do a little digging (or perhaps a lot), but there's a great chance that the information you're after is just floating around cyberspace at no cost. Be careful which sites you choose to rely on for help. Some of them will charge you fees for information you can get elsewhere for free.
Some will even charge you for wrong or useless information.
If you've got the time and the patience, it's often best to do the searching personally.
That way you can easily ignore irrelevant data and hone in on pertinent ones.Also be wary of more unscrupulous sites that will sweet talk you into downloading software, often for...
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Which Of The Affiliate Programs Should I Choose?
So what is affiliate marketing really all about? The following report includes some fascinating information about affiliate marketing--info you can use, not just the old stuff they used to tell you.
So Many Affiliate Programs! Which One Do I Choose?
Go visit http://www.ad-alyzer.com/727/Resell_Master_Course
Ask questions first before you join an affiliate program. Do a little research about the choices of program that you intend to join into. Get some answers because they will be the deciding point of what you will be achieving later on.
Will it cost you anything to join? Most affiliate programs being offered today are absolutely free of charge.
So why settle for those that charge you some dollars before joining.
When do they issue the commission checks? Every program is different. Some issue their checks once a month, every quarter, etc. Select the one that is suited to your payment time choice. Many...
Checks > Which Of The Affiliate Programs Should I Choose?
We Stand Firm With The Romar Group, Inc.
The management of The Romar Group, Inc., said today, "We stand firm with Romar and its commitment to right size its operation in an effort to build a more productive and efficient business. Over the next four quarters, Romar will announce to the public certain plans to grow its businesses which could include overhead reduction, additional lay-offs or terminations of non-productive employees, salary cuts, ESOP and major projects on the horizon or on the books.Romar recently experienced cash flow issues that caused problems for some of its employees and vows to make it right.
Romar's shareholders and investors have asked for an investigation of accusations made by a recent unknown group of presumably ex-employees, that Romar management mismanaged funds, mistreated employees, and inflated numbers and intentionally issued bad checks.
Preliminarily, the presumed ex-employee claims are grossly misstated, exaggerated and unfounded.
Romar's combined sales and interest...
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