Cornerstone Credit Union League's service corporation Credit Union Resources, Inc. has joined five other leagues in formation of a new credit union service organization called AffirmXCU, LLC, which has jointly acquired credit union-sector rights to AffirmX, an industry-leading risk management and compliance services provider for more than 120 credit unions nationwide.
In addition to Credit Union Resources, members of the new CUSO are Credit Union League of Connecticut, Indiana Credit Union League, Maryland and DC Credit Union Association, Mountain West Credit Union Association, and CU Solutions Group, a national CUSO majority owned by the Michigan Credit Union League.
"We are very pleased to be partnering with other leagues around the country to invest in this highly successful solutions provider," said Credit Union Resources President/CEO Caroline Willard. "AffirmX will provide credit unions with very affordable solutions to their compliance and risk management programs, including an automated, centralized, and real-time supported SaaS system."
As part of the agreement, Maryland-based AffirmX will continue to provide and service all products and retain a nominal ownership of the newly formed CUSO. AffirmXCU, LLC will expand and enhance delivery of the jointly owned compliance offerings and retain exclusive license to the patent, code, contracts, and intellectual property for all AffirmX solutions in the credit union sector. The CUSO will contract with AffirmX to service current and future contracts and to partner in future product development enhancements.
"Providing our member credit unions with accessible and customizable solutions that address their needs is a priority for Credit Union Resources," said Willard. "We're confident our members will find AffirmX to be a valuable resource and the perfect complement to Cornerstone's other compliance offerings, InfoSight and ComplySight."