LIVONIA, Mich. (6/26/12)--Cucorp, a subsidiary of the Michigan Credit Union League (MCUL), will purchase a 10% share Michigan Business Connection (MBC), a credit union service organization (CUSO) that provides business-lending support to state credit unions.
The companies also are developing a marketing agreement through which MBC will use CUcorp sales representatives to augment MBC sales and customer support functions (Michigan Monitor June 25).
The CUcorp board approved the action at its June board meeting.
No purchase price for the transaction was disclosed.
CUcorp sought the relationship with MBC to facilitate increased business-lending collaboration in the Michigan marketplace; increase the number of credit unions involved in business lending, and help MCUL to develop improved business-lending education and training.
MCUL will continue working with its other business-lending partners, said Dave Adams, league president/CEO.
"While we look forward to this new partnership, MCUL remains committed to ongoing dialogue and collaboration with other Michigan-based business-lending CUSOs, such as CenCorp and Commercial Alliance," he said.
ATLANTA (6/26/12)--Wescom Resources Group (WRG), a credit union service organization (CUSO) that provides software and technology service solutions, has agreed to offer the Online Banking Solutions' (OBS) Messenger Financial Center to deliver business information and payment services online to its clients.
In turn, OBS will offer WRG's MemberEdge electronic banking suite for consumers to credit unions implementing the OBS Messenger Financial Center.
OBS Messenger Financial Center is a business e-banking platform supporting real-time account and transaction reporting, e-statement delivery, stop payments, positive pay, account transfers and payment initiation of automated clearinghouse transactions and wire transfers. The OBS Messenger Mobile Banking partner product delivers full-featured information and payment services through the mobile channel. As an application service provider that uses private cloud technologies, Messenger Financial Center is capable of supporting exponential growth, the companies said.
MemberEdge online and mobile banking features integrated bill pay, automated clearinghouse person-to-person payments, account opening, marketing campaigns and eAlerts in one multi-channel platform. Built on an open services-oriented architecture, MemberEdge also provides cross-vendor integration between complementary services.
WRG is a CUSO backed by Wescom CU, Pasadena, Calif., which has nearly $2.4 billion in assets and serves 225,000 members.
Online Banking Solutions provides e-banking products including multi-channeled reporting, transaction and file delivery services to credit unions, community banks and commercial banks.