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CU*Answers Adds 7th and 8th New Owners for 2013
GRAND RAPIDS, MI (May 17, 2013) CU*Answers, the Grand Rapids, Michigan-based cooperative CUSO, announced that it has added two credit unions to its ownership ranks. The newest owners include Thornapple Valley Community Credit Union located in Hastings, MI ($14M and 4,500 members), and Firefighters Credit Union located in LaCrosse, WI ($62M and 4,300 members).
Scott Page, CU*Answers EVP said “A key differentiator to our on-going Cooperative CUSO growth is that nearly every CU*BASE® client is provided a unique opportunity to become a CU*Answers owner, at an affordable investment price. Not only has CU*Answers stock ownership provided a solid historical return on investment, but each owner is provided an equal voting privilege, including the option for being nominated to and voting for the CU*Answers Board of Directors on an annual basis. This equitable ownership opportunity is something that CU*Answers has adhered to since it initially offered its credit union ownership option over 25 years ago. Without a doubt, it is part of the reason clients utilizing our CU*BASE processing system feel a vested partnership with CU*Answers versus that of a traditional vendor/customer relationship. As a CU*Answers owner, they receive a guaranteed dividend check back each year as based upon their on-going CUSO patronage.”
CU*Answers stated that with these two newest investors it was now at 111 credit union owners nationally, with 8 new owners already added during its 2013 fiscal year.
About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 40+ years ago, CU*Answers is a 100% credit union-owned CUSO providing services to credit unions representing nearly 1.5 million members and $12.6 billion in credit union assets. For more information, visit www.cuanswers.com.