CUNA Mutual Group Sells Asset Liability Program
MONETT, Mo. - CUNA Mutual Group has sold its CUPRO and CUPRO Express asset-liability management programs to Jack Henry and Associates. The acquisition expands the CUNA Mutual-Profitstar strategic relationship, which began in April 2005, when CUNA Mutual partnered with Profitstar, Inc. of Omaha, Nebraksa to offer its Profitstar ALM program to CUNA Mutual's clients. Jack Henry acquired Profitstar, Inc. last November. Going forward, the CUPRO ALM programs and the Profitstar products and services will be marketed under Jack Henry's recently launched brand known as ProfitStars. "The CUPRO sale is consistent with CUNA Mutual's decision to phase out of the ALM software business and focus on providing balance sheet and investment management products and services," said Kevin Thompson, vice president of CUNA Mutual's Credit Union Financial products area. ProfitStars will serve over 650 small and mid-size credit unions currently using the CUPRO and CUPRO Express programs, Jack Henry said.