CUSOs

Reseda Group, a CUSO owned by MSU Federal Credit Union, acquired the money management app for couples as part of its strategy for family finance offerings.

The credit union partnered with Happy Money's digital lending and participations platform. TruMark has purchased, but not sold, participations for the past five years.

In an effort to compete with the vast resources of big banks, credit unions are partnering with fintechs to deliver banking products designed for children.

Ocala Community Credit Union is the latest credit union to partner with InvestiFi and offer crypto investments for its members.

Christopher Mufarrige is named acting director of the FTC's Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal's John Kim is leaving the company; and more in this week's banking news roundup.

As more potential buyers began inquiring about the availability of QCash, WSECU decided the time was right to offload the credit union service organization it launched in 2015.

The Virginia Beach-based credit union recently launched Chartway Ventures to invest in fintechs and other organizations.

Pembroke, who had led the association since 2015, died Monday at age 55. Jerry Saalsaa, the organization's senior vice president and chief administrative officer, has been interim CEO since July and will continue in that role.

As more banks and fintechs offer installment loans at the point of sale, CO-OP Financial Services and PSCU are designing products to allow credit unions to compete in this market as well.

Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.

The credit union service organization's newest chief executive took the helm April 1 and a new name for the company will debut in June.

John Janclaes spent more than 15 years at Partners Federal Credit Union but has moved on to help launch a new credit union service organization from Nymbus.

The 30-day extension comes after the American Bankers Association requested additional time to consider the rule's impact.

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.

In a party-line vote, the agency issued a proposal that would redefine a "complex" credit union.

Lenders are struggling to deploy deposits into interest-earning assets, and changes to post-secondary education may further limit these options.

Along with the assets-under-management milestone, Michigan Business Connection noted that its partner credit unions have financed more than 1,000 Paycheck Protection Program loans.

Nick Darvill, who is currently president of the credit union service organization, will take over as CEO when Jim Gallagher retires from that position.

CU Service Network has split into two divisions as part of a wider rebranding effort.

Speaking during the CUSO's virtual Member Forum, PSCU CEO Chuck Fagan noted that some data shows the economy may be beginning to rebound from the coronavirus, but some sectors are still struggling.