CUSOs

The Memphis-based developer of core processing software is now majority owned by three credit unions.

The Michigan-based CUSO has acquired a stake in NestReady, giving it exclusive industry rights on the mortgage technology firm's products.

Student CU Connect CUSO, which had made high-risk loans to students of the now-bankrupt ITT Technical Institute, agreed to a settlement resulting in an estimated $168 million of loan forgiveness.

Credit unions on the Corda blockchain platform will be able to make payments via EFT with CU Pay, a product the CUSO plans to roll out next year.

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.

The collaboration will include establishing an i3 presence at CU Direct's Irvine, Calif., campus.

The move comes on the heels of an earlier tech acquisition by the Livonia, Mich.-based CUSO.

Credit union share of the credit card market is at a record high but there are concerns that this debt could begin to sour if the economy turns.

Several credit union leagues and credit union service organizations have formed a new group, called AffirmXCU, that will offer risk management technology.

The venture, which will do business as CU APPS, will offer mobile apps for other credit unions.