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TruLync Item Processing Services Migrate to Alloya FCU

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The sale of TruLync’s item processing services to Alloya Corporate Federal Credit Union is entering it’s next phase. Following the completion of due diligence, the purchase agreement has been signed. Alloya FCU will now work with credit union clients to set a conversion date to occur on or before October 31, 2021. Our team of professionals from TruLync and Alloya FCU will work hard to ensure a seamless transition, so that credit unions will immediately begin to realize the benefits of this strategic partnership.

TruLync has found a strong partner in Alloya Corporate Federal Credit Union and is pleased to keep the item processing business in the credit union system. TruLync Services, including the business lines of Prize Linked Savings and M360 Data Analytics, will not be impacted by the transaction.

With questions, contact MnCUN President & CEO Mark Cummins or Chief Operating Officer John Ferstl.

Alloya Corporate FCU and TruLync™ Enter Strategic Partnership

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Alloya Corporate FCU and TruLync, a wholly owned subsidiary of the Minnesota Credit Union Network (MnCUN), announced today that they have entered a strategic partnership under which Alloya Corporate will acquire TruLync’s item processing services. The transaction is expected to be completed by third quarter of this year.

“We are thrilled about this partnership with Alloya,” commented Mark Cummins, President & CEO of TruLync and MnCUN. “Credit unions continue to depend on affordable, reliable and efficient check processing services. With check volumes in a steady decline over the past decade, it was time for TruLync to evaluate its strategic options. We know credit unions need a solution for the future and Alloya’s TranzCapture suite will ensure access to exactly that for many years to come.”

Launched in 2016, TranzCapture is a credit union service organization (CUSO) co-owned by Alloya Corporate FCU. At that time, Alloya’s Board of Directors realized that credit unions throughout the country would need a credit union owned and controlled solution to support check processing as volumes declined. As a result, Alloya partnered with other corporate credit unions to design, invest and build a solution that will ensure credit unions have an efficient, secure and cost-effective option.

Today, nearly 4,500 credit unions use check processing technologies powered by TranzCapture to gain access to a full suite of remote deposit capture services for ATM, branch, business, ITM and mobile and an efficient check clearing and home banking solution. Alloya’s team of professionals support this technology by providing research, adjustment, file processing and cash settlement services. This nationwide check processing solution helps credit unions overcome the challenges of diminishing check volumes while significantly reducing their operating expenses as compared to in-house or competitor alternatives. In 2020, Alloya processed 136 million checks valuing $131.2 billion.

“Alloya is honored to have been selected by TruLync. We share common values and both businesses represent strong examples of the power of cooperation,” remarked Todd Adams, CEO of Alloya Corporate. “At Alloya, our mission is to support credit union success by simplifying back-office operations. Many of TruLync’s credit union members already use Alloya’s Premier View technologies.  Through this acquisition, check processing will simply be one more feature those credit unions can efficiently access through the platform. Working together, we anticipate a smooth transition.”

TruLync Services, including the business lines of Prize Linked Savings and M360 Data Analytics, will not be impacted by the transaction. “This as an opportunity for us to expand TruLync’s efforts in offering technology solutions such as WINcentive PLS and M360 Data Analytics. We look forward to continuing to provide services which improve credit union efficiency, increase performance, reduce risk, and enrich member relationships,” continued Cummins.

With questions, contact MnCUN President & CEO Mark Cummins or Chief Operating Officer John Ferstl.

2019 SOC Report Now Available

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2019 TruLync SOC I, Type II Audit Report is now available on the TruLync Information Center.  Please call customer support at 800.477.0764, or email TruLync@Trulync.com regarding any questions.

TruLync is Open for Business

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As financial institutions are an essential service, TruLync remains open to serve clients during the Stay at Home order declared by Governor Walz today.

 

We recognize that with the constantly changing COVID-19 situation, this is an unprecedented time filled with uncertainty. As our clients and partners, we want you to know how we are addressing the COVID-19 impact to our operations.

 

Some of our staff are working remotely and those that remain in the office are following social distancing protocols. We’ve taken these steps to ensure that we are providing the highest level of service possible to enable you to continue providing payment processing for your members.

 

Our management remains vigilant and will continue to closely monitor the situation and adapt it evolves.

Coronavirus (COVID-19) Response

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Like you, TruLync is closely monitoring the Coronavirus (COVID-19) spread and potential impacts. The health and safety of our staff is our highest priority and we are following the recommendations of the Centers for Disease Control (CDC) and Minnesota Department of Health (MDH) and have implemented a plan to ensure that our services are uninterrupted.

Given the uncertainty in the current environment, please be assured that we are committed to providing the highest level of service possible to enable you to continue providing payment processing for your members.

We will continue to provide updates as they arise and thank you for your partnership.

 

Now Hiring: Marketing Program Specialist

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The Minnesota Credit Union Network and TruLync® are hiring a Marketing Program Specialist. This role will primarily assist in creating impactful marketing, communications and social media content in support of critical initiatives, programs and partnerships for the Minnesota Credit Union Network and TruLync.  This role will work in coordination with staff to ensure program and partner messaging and content strategy aligns with system branding while remaining consistent. 

In addition, the Marketing Program Specialist will collaborate with staff and industry partners to ensure marketing strategies and agreements are being fulfilled. This role will provide creative and innovative solutions in reaching desired audiences. This position will be expected to provide support to programs with the opportunity to provide process enhancement guidance.   

For more details and to apply

TruLync Gets High Ratings in Annual Performance Survey

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In a recent survey of clients in Minnesota, 65% of respondents rated TruLync service as “excellent” or “good.”

TruLync offers credit unions and other financial institutions nationwide a complete suite of cost-effective technology solutions which improve operational efficiency, increase financial performance, reduce risk, and enrich member relationships

Formerly operated under the name MnIPC, TruLync has provided credit unions with a cost-effective processing facility for more than 30 years, and is a wholly-owned subsidiary of the Minnesota Credit Union Network (MnCUN).

SOC I, Type 11 Audit Report

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2018 TruLync SOC I, Type II Audit Report is now available on TruLync Information Center.  Please call customer support at 800.477.0764, or email TruLync@Trulync.com with questions.

Catch the Best in Fintech Innovation at the 2019 AXFI Conference with a 10% Discount

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The 6th Annual Analytics and Financial Innovation AXFI Conference addresses the growing need to make analytics and innovation a top priority for credit unions.

Come find out why Credit Unions are in the best position to succeed in the new digital world on June 9-12, 2019 at the Radisson Blu Mall of America.

This conference is designed to be of interest to all levels of credit union management, C-Level, VPs, Managers and Technical Staff.

The Analytics Track is designed for those that understand their world is changing and seek a way to stay ahead of the curve. 
The Innovation Track will be unlike anything you’ve experienced, focusing on how we take the channels we have created to the next level. 
The Cyber Security track will feature leading industry experts providing comprehensive sessions, arming you with the tools necessary to navigate business risks.

TruLync is providing a select group of credit unions with the opportunity to attend this industry event at a 10% discounted rate using the code MNCUN10.

To register with the discounted rate:
• Go to the website: http://www.cvent.com/d/qbq3jz/4W
• As the Registration TYPE Select “Sponsor and/or Exhibitor” 
• As the Registration ITEM Select “Sponsor Staff – COMPANY MUST BE REGISTERED AS A SPONSOR” 
• On the payment screen, enter the code “MNCUN10” and the amount due will change to zero.

For more information, contact MnCUN Director of Business Development Kris Jacobsen by email or by phone at (651) 288-5515 or toll free at (800) 477-1034.

TruLync at the 2019 Minnesota Credit Union Annual Conference

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TruLync was a proud platinum sponsor of MnCUN event.

More than 500 credit union attendees and sponsors gathered for the annual conference, which offers the state’s largest credit union exhibit hall.

Visitors to the TruLync exhibit learned how their credit union could unlock the power of M360.

Didn’t attend the conference? Request a demo

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