| [November 29, 2005] |
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Hoosier Hills Credit Union Offers First Web-based Platform for Overdraft Services to Members
LOUISVILLE, Ky. --(Business Wire)-- Nov. 29, 2005 -- Louisville, Ky.-based BSG Financial, a leading provider of profit-enhancing programs and marketing services to the financial services industry, announced that Hoosier Hills Credit Union in Bedford, Ind. is the first financial institution to implement the company's newest product release, CourtesyConnect(TM), a Web-based courtesy overdraft program for financial institutions.
CourtesyConnect provides a cost-effective, outsourced tool for utilizing BSG Financial's proven overdraft protection services. According to credit union officials, Hoosier Hills Credit Union, with $275 million in assets, chose to implement CourtesyConnect, because it represents an attractive alternative to an in-house overdraft program.
"BSG Financial's CourtesyConnect provides us with the unique ability to outsource our overdraft services, which reduces the costs of both implementing and maintaining an in-house overdraft program," said Mark Fetter, senior vice president, Planning & Project Management for Hoosier Hills Credit Union. "In addition, with CourtesyConnect's collection component, our personnel has the ability to make more contacts with our members, investing less time, yet enjoying more positive collection results."
CourtesyConnect's Web-based software arms Hoosier Hills with a superior management tool for ongoing risk monitoring and reporting as part of an effective collection, analysis and charge-off system. Furthermore, the overdraft protection program has an added accountholder communication component, which is consumer-centric and conservative in its contact and follow-up methodology. This approach ensures responsible accountholder relations and enhanced collections, including response tracking.
Also, because the program is Web-based with a customer relationship focus, Hoosier Hills Credit Union gains instant access to household and account-level information, providing an efficient and effective way to manage risk and make better overdraft payment and refund decisions.
CourtesyConnect makes it easy to utilize BSG Financial's best practices to assist Hoosier Hills Credit Union in complying with all federal guidelines regarding overdraft programs. In addition, CourtesyConnect's reporting capabilities support Hoosier Hills Credit Union in meeting regulatory stipulations that require a financial institution to accurately report and track accountholder non-sufficient fund fees. The program is backed by BSG Financial's 100 percent compliance guarantee.
"CourtesyConnect allows Hoosier Hills to give its members an appreciated courtesy overdraft service while generating additional revenue opportunities," said Barrett Nichols, founder and CEO of BSG Financial. "The comprehensive nature of the program results in enhanced member relations, increased revenue and complete compliance--delivered efficiently in a Web-based platform."
About Hoosier Hills Credit Union
Bedford, Ind.-based Hoosier Hills Credit Union serves over 23,000 members in three counties. HHCU is a full-service financial institution, including all consumer products and services as well as Business Services and one of the largest mortgage operations for a credit union its size. For more information about Hoosier Hills, visit www.hoosierhills.com.
About BSG Financial, LLC
Louisville, Ky.-based BSG Financial, LLC is a provider of programs and services to the financial industry that help increase profitability, while enhancing customer relations. Its flagship program, the "Responsible Approach" to courtesy overdrafts, is a proprietary courtesy overdraft program, uniquely providing both in-house and outsourced solutions with a conservative approach to customer and risk management, profitability and ongoing technical and customer service. In addition, BSG Financial offers other profit-enhancing programs that increase retail account openings; outsource collections; repair damage caused by identity theft; and reduce institutional costs. BSG Financial is privately owned and has offices in Kentucky, Florida, Texas, Massachusetts and Pennsylvania. For more information about the company, visit www.BSGfinancial.com.
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