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CU*Answers Adds Third Owner of 2013 Calendar Year
GRAND RAPIDS, MI (April 10, 2013) – CU*Answers, the West Michigan-based cooperative CUSO, announced that another credit union had recently purchased stock to become a CU*Answers part-owner.
They said this newest owner is the $56 million, 9,300-member Clarkston Brandon Community Credit Union located in Clarkston, Michigan. CU*Answers added that with this newest investor, it is now at 110 credit union owners nationally, and that the credit union marks the sixth new owner for the 2013 fiscal year beginning in October 2012.
Scott Page, CU*Answers EVP said, “More than a CUSO, CU*Answers is a Cooperative and is democratically governed similar to a credit union. For instance, CU*Answers provides an affordable ownership opportunity to any credit union that utilizes its CU*BASE® processing system. It is not intended to be an ownership model that is beneficial to only a select few, but is available for all to participate equally. This includes each owner enjoying equal voting privileges, such as running for or voting annually for the CU*Answers Board of Directors. It truly is a model predicated upon active credit union participation, and opportunity for a financial return on their annual DP investment”. Page added that during its previous two fiscal years alone, CU*Answers had returned over $3.0 million in combined dividend and interest returns back to its credit union Owners.
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.