Calhoun-Liberty Employees Credit Union acquires shares in core provider CU*South
FAIRHOPE, AL (September 2, 2015) — Calhoun-Liberty Employees Credit Union has purchased shares in CU*South, the credit union’s core processing service provider. Based in the Florida panhandle southwest of Tallahassee, CLECU serves members in two counties, with branches on each side of the Apalachicola River.
“Ownership was one of the key reasons CLECU selected CU*South,” says CEO Thomas Flowers. “Our old core was owned by a banking software firm. The cost of dealing with them was outrageous – we were charged for every little item. Now we can offer our membership the level of online and mobile banking services we wanted to provide all along. CU*South is a game changer.”
CU*South CEO Leo Vaulin welcomes Calhoun-Liberty ECU as a new owner, “Technology moves fast, and market expectations shift with each new cool product or service. Our credit union owners make sure that we stay responsive to the changing marketplace. That’s something the big banking dinosaurs simply aren’t agile enough to do.”
“We believe that all credit unions, large and small, should have the opportunity to own a stake in the technology that drives their ability to serve member needs and sustain the economic growth of their communities. CU*South’s mission is to provide the support these credit unions need—not only the software, but also the expertise and support to put that software to the best possible use. Thanks to our client-owners, our CUSO helps credit unions grow!”
CU*SOUTH is a credit union-owned cooperative focused on building a network of successful credit unions. CU*SOUTH offers a wide variety of services including the Tier-1 CU*BASE® processing system offered in both online (ASP) and in-house processing environments, as well as a fully integrated online and mobile banking solution. CU*SOUTH also provides a variety of managed services through its CUSO@Work division, as well as through collaborative partnerships with other CUSOs in the rapidly-growing cuasterisk.com network—CU*Answers, CU*NorthWest, eDOC Innovations, Xtend, and Site-Four. Managed services allow credit unions to outsource tasks at a fraction of the cost of a full-time specialist—accounting, collections, compliance, lending, marketing, call center, web design. As a partner of the cuasterisk.com network, CU*SOUTH provides a comprehensive offering of information technology tools and services through a collaborative, shared ownership model, with the same great value credit unions offer members. For more information, visit www.cusouth.com.