North Dakota League Sells DP Unit

- BISMARCK, N.D. (11/30/01) -- The North Dakota CULeague said it has agreed to sell its PRODATA data processing unitto Premier Systems, Inc., (PSI), an affiliate of the Iowa CULeague. As part of the acquisition, the West Des Moines, Iowa-basedPSI plans to retain the PRODATA operation as a servicing hub forthe 39 (of 65) North Dakota credit unions running the system. TheNorth Dakota league indicated the cost of developing newtechnologies was an issue in the sale. "PSI currently provides manycutting edge data processing products that we at PRODATA would notbe able to afford to develop and disseminate to our credit unions,"the league said in a released statement. "With our limitedcapitalization structure and the competitive financial market inwhich we operate, it made logical sense to seek a powerful partnerthat can provide quality service and technological advances." PSIprovides an online solution of the ULTRADATA system toapproximately 200 credit unions nationally.