CU*South welcomes Union Pacific Streamliner Federal Credit Union as new CUSO shareholder
FAIRHOPE, AL (January 31, 2022) — Expanding on their relationship since August of 2019, Union Pacific Streamliner Federal Credit Union has become the latest to join the growing family of credit union shareholders of CU*SOUTH.
Headquartered in Omaha, Nebraska as the only financial institution solely dedicated to serving Union Pacific’s nearly 40,000 employees and their families, Union Pacific Streamliner FCU utilizes CU*SOUTH directly for core processing, e-commerce solutions including home-banking, and mobile app, as well as the CUSO’s accounting support with CUinBalance. In conjunction with other CU*Asterisk partners, the Credit Union also has auditing and vendor management support from AuditLink, call center and lending support from Xtend, and loan participation services from Lender*VP.
“The COVID-19 pandemic forced our credit union, like the entire economy, to change how it operates,” recounts Jonathon Miller, President/CEO of Union Pacific Streamliner FCU. “Cut off from in-person services forced us to lean further on the e-commerce solutions we had put in place in mid-2019. If we would not have made the change to CU*SOUTH when we did, we would not have been in position to survive the suspension of in-person services. Thanks to our service platforms based on CU*BASE, we have been able to not only survive, but thrive. We are in a stronger position than ever before. Our members can confidently self-manage their accounts with the credit union and have the confidence that help is only an email, call, text or webchat away.”
When asked what compelled Miller to become a shareholder of CU*SOUTH, he expressed it was a move to not only support his credit union, but the credit union movement as well. “The CUSO/cooperative model only works if all partners are committed and engaged,” Miller said. “In addition to the potential investment value from being a shareholder of CU*SOUTH can provide, it was a concrete gesture on our part to fully commit to and affirm our partnership with CU*SOUTH.”
“Jonathon, his team, and the Board at Union Pacific Streamliner FCU recognized from the very beginning of our relationship the immense value of a cooperative of cooperatives and that we are so much more than just a core solution,” states Derrick Smith, President/Chief Operating Officer of CU*SOUTH. “We’ve been enriched as a CUSO by their participation – now even more having them as an owner/partner.”
Miller concludes, “We are excited to join our fellow shareholders/owners in bringing our perspective to the discussion and finding new ways to leverage our synergies to better serve all CU*SOUTH partners and the members/owners we individually serve.”
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.