Letter of intent on the table, says former Good2CU.com CEO

AUSTIN, Texas - The Good2CU.com odyssey continues. The credit union portal provider announced last month that development of its supersite portal product was stalled and the company was looking for financial backing to complete the product. Just a few weeks ago Good2CU.com CEO Lee Cooke announced that the company was close to selling the company to another credit union technology firm. Cooke would not reveal the firm's name, but described the company as a "major credit union player." There is now a letter of intent on the table for this company to acquire Good2CU.com said Cooke, who is no longer Good2CU.com's CEO, but is the point man on the deal. Good2CU.com has essentially stopped operations. "Negotiations are still going on. The letter of intent is out there. I'm 90% confident this particular deal will get done," said Cooke. He said the company is basically test driving what Good2CU.com has done so far with its supersite. "They're feeling it out and seeing what it will take to 100% complete it," said Cooke. Cooke said the deal may entail him staying on to see the supersite through completion.Cooke said the supersite is about 70% complete. A source close to this story said Good2CU.com's problems stem from it trying to use the latest and greatest hardware, software and network for the supersite. "If it ever does get done it will be the Ferreri of portals," said the source. Good2CU.com is owned by Billing Concepts. -pgentile@cutimes.com