BIRMINGHAM, Ala. -- In what may be a first within the credit union industry, the Alabama Credit Union League, along with Credit Union Business Services, LLC, has voted to purchase CEBCO Staffing, a professional employer's organization and temp-to-permanent employment services company.
The acquisition enables CUBS Resources Ltd. to service more than 100 companies and more than 2,000 employees in 15 states. CUBS is owned by 11 credit unions and the Alabama CU League.
"We are extremely pleased to be able to offer credit unions and other small businesses the services CEBCO provides," said Gary Wolter, president/CEO of the Alabama CU League. "This acquisition will provide CUBS with opportunity to expand its PEO, ASO and payroll services, and create additional sales opportunities for CUBS Insurance, Inc. This purchase also allows us to bring to the forefront a much-needed service not previously offered, temp-to-perm employment."
The purchase makes CUBS the only credit union-owned professional employer's organization, administrative services organization, payroll, temp-to-perm agency, and insurance agency in the United States, according to the league.
"As credit unions increase their efforts to support small businesses, they must also look for innovative approaches to helping credit unions and credit union member businesses grow and expand," said Mark Cooper, vice president, CUBS.