Credit union data processor Share One is now a CUSO
MEMPHIS, Tenn. - Credit union data processor Share One, Inc. is now a CUSO. The company announced at its annual Clients Conference that a group of 13 of its customers had purchased a 28% interest in the company and had elected three officers from among the investing credit unions to serve on the Share One Board of Directors. Prior to this stock purchase, the company had primarily been employee owned. Elected to Share One's Board of Directors were: Charles Carpenter,President/CEO of Coast to Coast Credit Union, Tampa, Florida; Lynn Huether, President/CEO of Classroom Teachers Credit Union in Louisville, KY; and Phipps McGee, EVP of Eglin FCU in Fort Walton Beach, Florida. The company said operating now as a CUSO is a natural extension of Share One's relationship with its customers. Its new core processing system, NewSolutions, was created through a two-year cooperative effort between ShareOne and its clients. A "focus group" concept was adopted that allowed employees from the credit unions to provide input during the development process.