Sloanspace V-1 uses the word "Alerts" as a general term to describe BBoard email as well as admin notifications for certain a survey being filled out, or a user requesting membership in a "request membership" group.
Users are requesting (but we haven't yet started work on) even more alert capabilities, such as calendar reminders, notification of file uploads. etc.
I'm fine with "Bulk Mail" but it might imply to some developers that they should only use it if they will be sending a large number of messages.
Also someday in the glorious future, someone might want a system that lets a user choose if they want communication to be by email, AIM, a page to thier cell phone, etc.