Technology News: Four Spokane CUs Form CUSO With CU*Answers
Four Washington credit unions have formed a regional core data processing CUSO in conjunction with another CUSO, CU*Answers. The new CUSO, called CU*NorthWest, has purchased the assets Franklin Associate Solutions and will act to offer Kentwood, Mich.-based CU*Answers' solutions in the Pacific Northwest.
"We partnered with one of the most successful data processing CUSO's in the country and you simply cannot put a value on having that type of model to follow," said Greg Smith, CEO of the new CUSO.
The four Spokane-area credit unions forming the CUSO are Spokane Firefighters CU, Inland Empire Trades CU, Spokane Catholic FCU, and Spokane Media FCU.
Guy Messick, an attorney with Messick & Weber, PC who has long specialized in CUSOs, added, "This represents the beginning of the creation of a national network of small and mid-sized credit unions. In my opinion, CU*Answers is the prime example of how small to mid-sized credit unions can bind together to offer state of the art services that enable the member credit unions to survive and thrive. By creating regional nodes of the concept through CUSOs such as CU*NorthWest, the CU*Answer tools are extended on a national basis but the regional CUSOs can develop their own identity and focus that works in their region. It is a powerful collaboration concept."
The 35-year-old CU*Answers, formerly WESCO, provides services to 165 CUs.