CU Business Group (Business Lending)

CU Business Group (CUBG) is a credit union service organization that provides comprehensive support for credit unions seeking to begin or expand their business services. CUBG’s experienced professionals provide credit underwriting expertise with guidance on strategy, policies and business deposit services.

Founded in 2002, CUBG is owned by corporate credit unions and serves credit unions nationwide. It is no secret that operating a credit union is getting to be more and more competitive. Pressure from banks large and small, coupled with broadened fields of membership and community charters, make it vital for credit unions to offer their members more value, service, and convenience. CUBG is currently working with more than 500 credit unions in 46 states. They understand that your credit union needs one-on-one personalized and customized service.

Their expertise and full-service support is the fast, easy, and cost-effective way to add business lending and deposit products to your credit union’s list of services. They provide the expertise and infrastructure you need to add a complete package of business services, while offering you flexibility, ownership and control over your program. You decide which businesses to go after, which loans are approved and for how much. CU Business Group is just there to give you the information and infrastructure you need to make sound decisions.

CU Business Group provides all of the guidance and technical expertise needed for implementing a complete package of business loan and deposit products. From planning to servicing, compliance to consulting, pricing to prospecting, they provide the expertise and resources to make your business services program successful.

Business service programs include

Business loan underwriting and documentation
Risk monitoring and annual reviews
Participations
Independent reviews of business loan underwriting and operations
Structure and pricing of business checking, savings and money market accts.
Education and training for all aspects of business products
Policies, procedures, pricing and marketing materials

From planning to servicing, compliance to consulting, pricing to prospecting, CUBG provides the expertise and resources to make your business services program successful. Contact Tricorp today for more information at info@tricorp.org, or visit CUBG at http://cubg.org

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MyCU Services (Bill Payment)

Tricorp’s bill pay solution, offered through MY CU Services, enables your members to submit payments via the Internet making it more convenient for them to pay bills and effectively manage their funds. And when it comes to electronic bill payment (EBP), some may think that all programs are the same, regardless of the provider. This is not true! MY CU Services provides credit unions with the traditional ease of paying bills online…PLUS so much more.

MyCU Services is an electronic bill payment program that offers your credit union a simple, seamless turnkey EBP consumer or business solution that can be integrated with any home banking provider or data processing system. In addition to industry standard electronic bill payment features and single sign on capability with a growing list of processors, Tricorp’s bill pay solution incorporates the following benefits:

Mobile integration
Bill presentments/eBills
Person-to-person payments
External account-to-account transfers
Expedited payments
Schedule multiple payments from one screen
Gift and donation payments
Alerts and text messages
Call center support and live chat feature
And much more

If you are ready to add electronic bill payment to your product offerings, or want to
upgrade from your current service to provide more flexibility and functionality, then it’s time contact Tricorp today at info@tricorp.org.

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Pay Lynxs (BSA/AML Compliance Platform)

Pay Lynxs is a software company that offers a BSA/AML compliance automation platform called SimpliRisk that gives credit unions an affordable compliance alternative. Their cloud-based software solution, SimpliRisk, provides fraud detection, anti-money laundering and risk rating solutions to help credit unions fight financial crimes, money laundering and identify high risk activity through innovative technology.

SimpliRisk is designed for credit unions looking for a simple, affordable and single system. It is an easy-to-use service that assists the compliance professional in risk rating, transaction monitoring and customer due diligence (KYC/CDD) specific to supporting the requirements for BSA/AML risk management.

Your credit union can determine and establish different rule sets for each group of members (regular, business, employees, etc.) so that you can risk-rate members specific to the conditions for those accounts. The credit union can also schedule the SimpliRisk transaction monitoring or risk rating to run at any time or on a regular monthly or quarterly schedule.

For more information on SimpliRisk, contact Tricorp at info@tricorp.org or contact Jim Stevens at jstevens@paylynxs.com.

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Primary Financial, LLC (SimpliCD)

Primary Financial Company, LLC, is a credit union service organization (CUSO) owned jointly by corporate credit unions throughout the United States. It is a certificate of deposit program that enables credit unions to invest substantial funds in federally-insured CDs or to generate liquidity quickly by issuing CDs to a nationwide market of potential investors.

This program, SimpliCD (“simplicity”), is a turnkey program that combines CD investing and issuing with the advantages of competitive rates and consolidated reporting.

Benefits of Investing

No more phone calls to multiple issuers to find competitive rates
No more multiple wire transfers to invest in multiple CDs
Flexible terms and amounts that fit into your investment strategy
Free third-party performance reviews on issuers that help you make more informed decisions
Single transaction settlement with no transaction fees
Consolidated monthly reports for easier accounting and auditing
The security of investing with federally insured institutions

Benefits of Issuing

Centralized way to raise funds and generate liquidity
Access to 4,300 potential credit union investors nationwide through the SimpliCD program.
Competitive alternative to other funding methods
Assistance in developing the terms of issuance
Ability to pool investors into one CD
Credit unions receive interest payments from one entity – Tricorp – with a single wire transfer, eliminating the need to track and collect interest from each investing institution.
No subscription or broker fees

Whether purchasing certificates of deposit as investments or issuing them to build liquidity, credit unions benefit from the economies of scale offered by SimpliCD’s large network of credit unions and from the elimination of many of the responsibilities that attend management of individual CD accounts.

View these videos at the SimpliCD YouTube channel. They provide a fantastic overview of the basic tenets of working with SimpliCD.

Issuers:

Investors:

Contact Tricorp today for more information at info@tricorp.org

Click here to view today’s SimpliCD rates

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Sallie Mae Student Loans

Our partnership with Sallie Mae on the Smart Option Student Loan® program opens doors for credit unions looking to help students and families solve the complicated puzzle of paying for college and graduate school while generating fee income for credit unions.

Loans for undergraduates, graduate students

and parents

Help your members pay for college

When it comes to paying for college, your members should first look for money they won’t have to pay back, such as scholarships and grants. The next step is to explore federal student loans. Finally, members may consider a responsible private student loan to cover the rest.

Through a partnership with Sallie Mae^®, a suite of education loans—created specifically for the needs of undergraduate and graduate students, and their parents—will help your credit union retain and grow member relationships by offering private student loans as a complement to student checking, debit cards, online banking, auto loans, and your complete suite of financial products.

Benefits to your credit union

The Sallie Mae suite of loans expands your credit union’s product line at no cost:

Offers high-value products that can attract and help retain valuable members
Generates fee income per originated loan without any upfront investment from your credit union

Benefits to your members

Makes money available that students need for college. After maximizing scholarships and federal loans, they can borrow up to 100% of the school-certified expenses like tuition, fees, books, housing, meals, travel, and even a laptop.1
Offers the choice of competitive fixed or variable interest rates.
The undergraduate and graduate loans let members choose from three simple repayment options,2 including making monthly interest payments while in school, paying a fixed amount each month while in school, or deferring payments until after they leave school. Not only can the in-school repayment options reduce the total cost of the loan, they may also help a borrower build credit.
Allows members to earn a 0.25 percentage point interest rate reduction when they enroll in and make monthly payments by auto debit.
Easy and fast online application. Members can also manage their loans online, 24/7.
4 months of free Chegg Study® with our Undergraduate and Parent loans.4
Assists your members, when needed, with Sallie Mae’s dedicated customer service and technical assistance centers.

Get started today

Help your members pay for college with a suite of student loans by Sallie Mae. Contact Sallie Mae for more details to start participating in the program.

Borrow responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Undergraduate and graduate loans: This information is for students attending participating degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States. Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Parent Loan: This information is for borrowers with students attending participating degree-granting schools. The student is not eligible to be a borrower or cosigner. The borrower, cosigner, and student must be U.S. citizens or U.S. permanent residents. The school may refund loan funds directly to the student; if that occurs, the borrower and cosigner (if applicable) would still be responsible for repaying that amount. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.

2 Interest is charged throughout the life of the loan—beginning with disbursement, during school, through any grace/separation period, and ending when the loan is paid in full. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan.

3 Borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month and may be suspended during periods of forbearance or deferment, if available for the loan.

4 This promotional benefit is provided at no cost to borrowers with loans that first disburse between July 1, 2018 and April 30, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. No cash value. Terms and Conditions apply. Please visit chegg.com/study starter/terms and conditions for complete details. This offer expires one year after issuance.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Sallie Mae loans are made by Sallie Mae Bank.

Information advertised valid as of 8/25/2020.

Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

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AIM (Asset & Investment Management)

The Millennium Corporate AIM – Asset & Investment Management – Program provides ALM consulting services to client credit unions, specializing in strategy development and education, providing sound, practical, and impartial financial advice.

AIM is a team of financial analysts who are not only experts in ALM but they have extensive knowledge of credit unions and their business. The AIM team use industry leading software to monitor interest rate risk and test ALM strategies prior to implementation.

Clients receive:

ALM & Investment Policy Design and Review
Quarterly ALM Analysis
Portfolio Structuring, Ongoing Investment Recommendations, and Accounting & Reporting
Volunteer & Staff Education

Whether you use the ALM service AIM can also provide credit unions with tons of economic resources that include commentaries to keep your staff in the know on current rates, events, and offerings AND state-of-the art online tools to put purchasing power directly into your hands – including click and buy marketable securities on a secure, private credit union only web platform – the AIM Portal – where client credit unions can upload reports and access their quarterly analysis.

To receive a free consultation and learn more, please email aim@millenniumcorporate.org

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