NEW YORK – CashEdge is on a roll with the signing of two billion dollar credit unions – the $3 billion Patelco CU and $1.3 billion GTE FCU. Both credit unions are adding CashEdge's inter-institution transfer solution (Online Money Movement) and its aggregation piece (Advanced Account Aggregation). Money Movement allows not only inter-institution transfers but also person-to-person payments. Neil Platt, VP of Sales and Business Development for CashEdge, said credit unions are attracted to inter-institution and P2P transfer capabilities because studies show that about 60% of the transactions done through these systems are in-bound, meaning more people add money to their accounts than export money out of them. It's also a way to generate non-interest fee income as credit unions can charge per transfer. "Credit unions want to provide the service to become more essential to their members' financial lives. The credit union account becomes the core account, where money is moved in and out," said Platt. Patelco CU wants to stay ahead of the curve and thinks products like these make it a more desirable institution for online savvy consumers. "Patelco believes this is a natural progression from the basic bill payment transaction to a more comprehensive online banking tool for members to manage all their finances from one central side," said Patelco EVP John Shields. Although about half of Patelco's 190,000 members use online services from Patelco, Shields thinks over the next two years there is an opportunity to further increase that percentage. "As long as we continue to offer innovative solutions and reinforce our secure connection, members will increasingly see the benefits of online banking," said Shields. As for aggregation, Platt said while financials are more cautious about getting into it, they're interested. "People are not launching aggregation because they feel pressured to. They're thinking about what they want to accomplish with it," said Platt. One thing is integrating aggregation with money movement and integrating it with online wealth management, a growing trend in the financial sector. CashEdge has been doing well with large credit unions already having Digital FCU, Teachers CU, Community CU and ESL FCU as clients. In total it has 61 financial institution clients. It has been helped by partnerships with Digital Insight and Online Resources. Speaking of Online Resources, it is doing something with CashEdge's suit of products that no one in the online world has done. It is launching Cash Edge's aggregation, bill presentment and money movement solutions all at once to its 450 clients. The suite of products will be known as MoneyHQ, and incredibly it will be free of charge. It will also include online alerts for cleared checks, balance milestones, etc. "We've done quite a bit of consumer research and feel like this is meeting a consumer need. We feel like the value proposition is there for consumers," said Beth Halloran, spokesperon for ORCC. "We started piloting a week and a half a go. We go out to our full-service clients and net banking and bill pay clients later in fourth quarter," said Halloran.