LIBERTY LAKE, Wash. (7/10/12)--The board of directors of CU*NorthWest, a Liberty Lake, Wash.-based credit union service organization (CUSO), has approved and distributed its first dividend since it launched operations in 2005.
Owners received their dividend checks at CU*Northwest's annual meeting, held in conjunction with its Leadership Conference, June 28.
"This dividend marks a real turning point for CU*NorthWest," said Debie Keessee, secretary/treasury of the CU*Northwest board. "We are no longer a start-up company. Our first dividend check is a milestone to celebrate."
CU*NorthWest was started on a $50,000 investment in 2005 as a financial services data processor and today has clients in four western states.
GRAND RAPIDS, Mich. (7/10/12)--CU*Answers, a Grand Rapids, Mich.-based data processor, increased assets by 9.3% during 2011, the company announced at its annual ownership meeting.
The credit union service organization also increased total equity by 23.6% and improved retained earnings grew by 43.5%.
CU*Answers now has 104 credit union owners nationally. The company added 12 new owners during the previous year, representing its largest single year for new ownership growth in more than 10 years.
For existing owners, book value increased by 17.1% during 2011. Since 2007, ownership book value has increased by more than 204%, the company said.
CU*Answers also announced the four winners of its 2012 contests for Best 30 Second Spot Idea, Best Video Idea, Best Jingle, and Best Complete Video. The winning contributors, all employees of credit unions on the CU*Answers CU*BASEcore processing platform, each won $1,500 for their credit union.
The award for Best 30-Second Spot Idea was awarded to Brandt Becker at Community West CU, Kentwood, Mich. and is titled "We're Here."
The winner of Best Video Idea for the theme "Why I Work at a Credit Union" was Patty Sarne of San Antonio (Fla.) Citizens FCU.
Christie Dompierre of TBA CU, Traverse City, Mich., took the award for the Best Jingle, and Renee Maeder of Best Advantage CU, Brillion, Wis., received the award for Best Complete Video.
CU*Answers also announced the release of Just Turn it On, a new service to help credit unions get projects accomplished that they don't have time or expertise to get off the ground.
CU*Answers will act for the credit union to help it accomplish lingering initiatives. For example, if a credit union wanted to implement a service such as electronic documents but didn't have the resources or wasn't sure where or how to start, CU*Answers would send in experts to see the project through completion. It's a service to provide micro project management for implementing a feature, function or process.