BROOKFIELD, Wis. -- A group of the nation's corporate credit unions have formed a new CUSO and extended their core processing relationship with Fiserv Inc.
The new contract runs through 2011 and is with Core Network Processing LLC, formed to provide core processing for Corporate America CU, FirstCorp CU, Kentucky Corporate FCU, Louisiana Corporate CU, Missouri Corporate CU, Tricorp FCU, U.S. Central FCU and West Virginia Corporate CU.
U.S. Central has been providing processing to its member CUs for more than 25 years through the Corporate Credit Union Network, and when it decided to exit that business, the contract was transferred to the newly formed CUSO and extended by two and a half years, Fiserv said.
"We will continue to leverage our deep and unmatched understanding of the requirements of corporate credit unions to ensure that reliable, economically viable technology solutions are always available to the CUSO members," said Dave Selina, president of Fiserv's Credit Union Industry Services business lines.
Teresa Brent, managing director of the new Kansas-based CUSO, said, "The Fiserv solution provides all the features and functionality corporate credit unions require to run effectively."
Approximately 8,400 natural-person credit unions are members of corporate credit unions.