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Whats
New
Many
great things are happening these days at Louisiana Corporate.
We also have some great new products and services, which are
featured below.
CorPower Upgrade An upgrade was implemented this weekend that will require the resetting of your Authentication Questions and User Image at initial user login this morning. Please give us a call at 800-421-7030 if you require assistance. LOUISIANA CORPORATE 2012 HOLIDAY SCHEDULE New Year’s Day January 2Martin Luther King, Jr. Day January 16 Presidents’ Day February 20 Mardi Gras February 21 Memorial Day May 28 Independence Day July 4 Labor Day September 3 Columbus Day October 8 Veterans’ Day November 12 Thanksgiving November 22 Christmas December 25 *We will close at 1:00pm on Friday, November 23rd *We will close at 1:00 pm on Monday, December 24th
*We will close at 2:00 pm on Monday, December 31st
International Wire Exchange Rates We have incorporated a table for International Wire Exchange Rates into our website for your reference. This table is interactive. Simply type in your USD amount or your FX amount and it will do the conversion for you so you'll know exactly what your member will receive when sending wires. Click on the link on the left hand side of our website to access. IMAGE RETURNS PROCESSING NOW AVAILABLE We are now offering Image Returns Processing through Palmetto Cooperative Services. Palmetto can receive a FedReceipt Returns file from the Federal Reserve on behalf of your credit union. They would process this file and make the check images available through their Online Image Lookup (OIL) system.
Please give us a call today to find out how this service can benefit your credit union and how to get started right away. Introducing CorPower! Louisiana Corporate Credit will be implementing a new data processing Front End in the second quarter of 2010. This CorPower program will replace the existing Open Door product. You will access CorPower to perform all the functions you currently use on Open Door. CorPower has a new look and enhanced user friendly features we know you will appreciate. Training will be available via webinar on Wednesday, March 24th and Thursday, March 25th. We encourage you to take advantage of one of these informational webinars to quide you through the sign on process and the features of CorPower. Additional webinar registration information will be made available soon. HOURS OF OPERATION To: All Member Credit UnionsFrom: David Savoie, CEO Date: November 18, 2009 Re: Hours of Operation
Effective Monday, January 4, 2010, Louisiana Corporate will implement a change to our operating hours. The corporate office will be open for business from 8:30 am until 4:30 pm daily (unless otherwise noted for holidays, etc.). These operating hours will assist us in making an efficient conversion to our new core processing system, while maintaining your access to our member service representatives throughout your normal transaction hours. Access to automated systems, i.e. Open Door and Apex will be available as usual and processing deadlines will not change. E-mails and voicemails received after 4:30 pm will be accessed the next business day.
Please contact Sherrie Klotz, SVP-Operations at 1-800-421-7030 or sherrie@lacorp.com if you have any questions or we can be of any assistance.
Reminder - IAT Effective Date September 18th An IAT transaction is an ACH entry that is part of a payment transaction involving a financial agency’s office that is not located in the territorial jurisdiction of the United States. All U.S. Depository Financial Institutions must prepare for this new ACH rule. Although you may have decided not to originate IAT items, all FI’s need to be ready in the event you receive one.
Please give us a call if you need more information on how this may affect your credit union. SHARE DRAFT PROCESSING NOW AVAILABLE! Louisiana Corporate is proud to present Share Draft Processing! We have partnered with Palmetto Cooperative Services,Inc. to create a great service at a very competitive price. Palmetto Cooperative Services is endorsed by three state Credit Union Leagues for Share Draft Services. LaCorp is pleased to join Palmetto's growing list of corporate credit union business partners. Items processed by Palmetto Services conveniently settle in your Louisiana Corporate settlement account. This outstanding service can be seamlessly combined with our existing Palmetto Services Branch Capture product to add image capture to your share draft capabilities. Now, Louisiana Corporate is excited to offer this to our member credit unions. Give us a call today to inquire about how we can get you started! BRANCH CAPTURE SERVICES FROM LACORP! Branch Item Capture Gaining Momentum
If your credit union is one that took a “wait and see” approach to Branch Item Capture and Electronic Image Exchange, it may be time for you to take a closer look. Credit unions of all sizes are realizing the significant advantages that this new technology offers. As the cost to process and transport paper checks continues to escalate, all credit unions should consider implementing an image-based check clearing solution. At Louisiana Corporate Credit Union, we have established a relationship with Palmetto Cooperative Services, Inc. (PCS), which allows us to offer an affordable, turn-key solution for Branch Item Capture. PCS is a credit union owned CUSO, based in South Carolina. They have partnered with Corporate Credit Unions in the Carolinas, Virginia, West Virginia and Louisiana, to provide item processing services for credit unions everywhere.
Since the passage of the Check Clearing for the 21st Century Act (Check 21) over 2 years ago, a lot of work has been done to develop and perfect the technologies needed for Electronic Image Exchange. According to the Federal Reserve, during November, 2006, more than 12.3 million check images were exchanged between financial institutions every day. PCS processes Electronic Cash Letters for more than 80 credit unions. Their volume of check images presented for forward collection will soon surpass a million items a month. Some of the benefits that credit unions enjoy with Branch Item Capture and Electronic Image Exchange include: 1) Improved Availability of Funds – The Federal Reserve reports that items presented electronically receive approximately 98% next day availability of the funds. That compares to 80% for paper-based items.
2) Elimination of Courier Fees – Since check images are forwarded and collected electronically, there is no need to move your checks on planes, trains and automobiles.
3) Improved Return Timeframes – Items presented electronically can be returned to you much faster than traditional paper-based items.
4) Improved Fraud Detection – Faster clearing times will help all financial institutions reduce their exposure to deposit fraud.
5) Optical Archive –Check images are stored electronically for easy retrieval over a secure internet connection. To learn more about Louisiana Corporate’s Branch Item Capture and Electronic Image Exchange product, contact Sherrie Klotz at 1-800-421-7030. She would be happy to provide additional information and help you identify the cost savings that this technology can provide. Online Data Backup - eliminate the need for offsite tapes 
Backup your system with FirstBackup
SimpliCD - The better way to buy insured CD's! WWW.SIMPLICD.ORG
CU Business Group, LLC Louisiana Corporate's business partner, CU Business Group, LLC, provides services to 53 credit unions in 12 states, ranging in size from $5 million to $3 billion in total assets. Services include complete programs and consulting for business loans, working capital credit lines, SBA loan programs, business checking and money market accounts, merchant credit and debit card programs, policies for business services, and regulatory compliance. Please contact us for additional information. SimpliCD Rates Posted to Web Daily Rate indications for SimpliCD, our popular brokered Certificate of Deposit program, are now posted to the rates section of Lacorp.com on a daily basis. LaCorp has over seven years of experience in the administration of this program and can get you started today. Simplify your investing with SimpliCD! Maestro ALM Risk Monitoring from Louisiana Corporate Maestro ALM Risk Monitoring is a state of the art, NEV based ALM modeling system exclusively for credit unions. Maestro represents the current thinking in ALM and is a significant improvement over limited capacity GAP based models. Please contact David Savoie at LaCorp or CNBS.
View sample reports by clicking on the Maestro logo on our home page. Electronic Bill Pay Available through Louisiana Corporate Louisiana Corporate has partnered with MyCU Services, Inc., to offer Electronic Bill Payment (EBP) and home banking services to Louisiana Corporate member credit unions. This service is available in Louisiana exclusively through Louisiana Corporate. For more information, contact David Savoie at (800)421-7030 and see our EBP web page at Louisiana Corporate Electronic Bill Pay SimpliCD Louisiana Corporate is among the only credit unions in America to offer SimpliCD (pronounced "simplicity"), the better way to buy certificates. Many credit unions spend hours calling various banks and thrifts to inquire about rates or spend thousands of dollars each year for "express" rate software. Now credit union managers can purchase certificates at competitive rates with just one phone call...
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