CU*NorthWest sets 2017 stock price
LIBERTY LAKE, WA (January 11, 2017) — CU*NorthWest, a 100% credit union owned cooperative CUSO, has set the new price for an ownership share at $83,500.00. Each year the CU*NorthWest Board of Directors establishes the new stock price based on the audited financials from the prior fiscal year.
Chuck Papenfus, CEO of Inland Valley Federal Credit Union and chairman of the board stated: “The initial offering price was $31,250.00 in 2005 and this year’s price is now more than double that. The firm is healthy and growth is accelerating in accordance with our business plans.”
Although ownership is not required, CU*NorthWest maintains nearly 70% ownership penetration among its clients. “The fact that credit unions are seeking ownership in our CUSO is a good indication of cooperative health,” said Greg Smith, CEO.
CU*NorthWest just added three new owners in California, Oregon and Colorado and now has owners in Washington, Oregon, Colorado, California, Montana, Alaska, and Michigan.
CU*NorthWest was founded in 2005 as a part of the cuasterisk.com network of credit unions and CUSO’s. It is a 100% credit union-owned cooperative CUSO located in Liberty Lake, Washington. CU*NorthWest offers a wide variety of services for credit unions including its flagship CU*BASE processing system (online and in-house) and Internet development services featuring the It’s Me 247 online and mobile banking. Additional services include web site development, network design and security, execution services, and a complete eDocument solution. CU*NorthWest provides expertise in implementing technical solutions to operational needs, and helps credit unions form strategic alliances and partnerships. For more information, visit www.cunorthwest.com.