Two CUSOs Will Merge
HELENA, Mont. -- Two draft processing CUSOs, UniPro Systems Ltd. and CUsource LLC, will merge effective Oct. 15.
Helena, Mont.-based UniPro was formed in 1995 to process share drafts and in 1998, added print mail services. In 2002, the CUSO expanded it services to include network security.
CUsource is a data processing CUSO wholly owned by 10 Montana credit unions that provides data processing and real estate services to 27 credit unions across Montana. The CUSO is based in Great Falls with an additional office in Billings.
Since UniPro's inception, the Montana Credit Union League's service corporation League Service Group, Rocky Mountain Credit Union and CUsource have been equal investors in UniPro, according to the league, which announced the merger on Sept. 29. Earlier this year, Rocky Mountain CU indicated their interest to divest their share, prompting discussions on various ownership scenarios.
"Credit unions are looking to reduce potential redundancies and improve efficiencies--we anticipate this merger will allow for that and continue the tradition of a Montana-based service provider," said Tracie Kenyon, president/CEO, Montana CU League and League Service Group.
Shirley Bailey, president of CUsource, added, "We believe that this ownership change will allow for continued and expanded product offerings building on a 20-year tradition of excellent service."