March 24, 2010

WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) and Allied Solutions (www.nafcu.org/Allied), the NAFCU Services Preferred Partner for overdraft protection, today announced that their recent popular webinar, “Strategizing for the New Reg E Overdraft Protection Requirements,” is now available. The webinar gives an overview of ways credit unions can comply with the new Regulation E overdraft protection requirements that will become effective later this year. Allied Solutions offers both overdraft protection solutions as well as a comprehensive solution for managing Regulation E compliance.
The webinar was presented live on March 17. The recorded version and presentation slides are available online at www.nafcu.org/Allied.

“Many credit unions have significant revenue at risk as a result of the new opt-in rules,” explains Gerald Witcher, national product manager for overdraft protection at Impact Financial Services in partnership with Allied Solutions. “At the same time, resources are already stretched thin. An outsourcing strategy, or a mixed in-house/outsourced strategy can be very successful and cost-effective.”

During the webinar, Witcher focuses on ways to address key challenges faced by credit unions as they implement opt-in systems, from strategies for contacting members to issues in tracking and maintaining data. Best practices are presented at every step of the process.

“It is not just the logistical challenge involved in managing an outreach effort to every one of your members that has an account covered by overdraft regulations,” said David Frankil, president of NAFCU Services Corporation. “There is at least as great a challenge in accomplishing all of that without losing significant sources of revenue and maintaining compliance as well.”

About Allied Solutions
Allied Solutions is a leading insurance and financial services company that has been working with financial institutions for more than 30 years, and is the NAFCU Services Corporation Preferred Partner for Overdraft Protection in partnership with Impact Financial Services. Allied Solutions has relationships with more than 3000 financial institutions around the country. It provides innovative, value-added products and services that give its clients a competitive advantage and support them with a level of service that is unsurpassed.

About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry’s leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 28 Preferred Partner programs to the credit union community, and maintains the credit union locator Web site, CULookup.com. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.