Liberty Online, Universal Pensions Form Alliance for Internet Delivery of Retirement Services to Credit Unions

Mounds View, Minn.—Liberty Online, one of the credit unions leading Web hosting and design providers, has partnered with Universal Pensions, Inc. (UPI), as a remarketing agent of UPI’s Internet-based IRA Service Center^�.

UPI, based in Brainerd, Minn., developed the IRA Service Center to provide financial institutions the components necessary to attract and retain the significant retirement dollars in retirement plans which are eligible to be rolled into IRAs. These components include: l) complete interactive IRA forms suite with forms selection logic capabilities; 2) Roth and traditional IRA planning tools; 3) an educational module with help text, and 4) an information tracking database that provides a secure database for the credit union to capture member data unique to each transaction.

"There’s a synergy created by us working with Universal Pensions," said Bill Wagner, Liberty Online Marketing Director. "This is a great opportunity for both Liberty Online and Universal Pensions to enhance our presence within credit unions. Not only will this IRA Service Center eliminate a lot of work on the credit union’s part, it will help that credit union attract and retain IRA assets."

UPI provides products services and consulting that financial institutions such as credit unions need to maintain compliance and be more competitive in the retirement plans market. UPI provides our services to more than 1,300 credit unions, including 76 of the top 100 credit unions, said Cynthia Roggenkamp, Vice President, Marketing and Sales for UPI

"We have a strong record with credit unions," Roggenkamp said. "Credit unions focus on a high level of member service and The IRA Service Center enhances member service by combining the convenience of the Internet with robust compliance architecture that ensures IRA transactions are conducted correctly by either the member or the credit union staff at the point-of-sale."

Liberty Online’s image within the credit union movement laid the groundwork for the remarketing agreement, she said. "We were impressed with all components of Liberty Online, especially the very positive relationship they have with credit unions."

Liberty Online and UPI have about 40 customers in common, including Santa Clara County (Calif.) Federal Credit Union (SCCFCU).

"This is great for credit unions. Liberty Online is going out and bringing online partners to us. They’re really an extension of our marketing department," said Jennifer Gibbs, SCCFCU director of online services.

Santa Clara uses both Liberty Online and Universal Pensions. Concerning UPI, Gibbs said, "The really nice thing about this whole arrangement is that it’s seamless to set up. It’s pretty much paperless on our end and really streamlined our business process."

Liberty Online is part of the growing Liberty family of credit union-focused companies. Recognized as the credit union movement's leading provider of payment systems and marketing services, Liberty serves more than 4,800 credit unions in all 50 states, Guam and Puerto Rico.