The National Federation of Community Development Credit Unions announced a deal Tuesday that will allow the trade group to develop a common core processing platform for member CDCUs.

The deal, with the Birmingham, Ala.-based software CUSO EPL Inc., will produce a processing platform that accommodates ongoing innovation, facilitates collaboration and shared services, and increases the impact of CDCUs, the National Federation said.

Earlier this year, Dedagroup SpA, an Italian firm with a history in core processing, purchased a majority position in EPL and refinanced the CUSO.

continue reading »