He had hoped for more business – but a year into the life ofBismarck, N.D., CUSO ProDraftServices vice president Doug Wolf (onetime CEO of MidwestCorporate, now closed) told Credit Union Times in aninterview, “we are doing OK.”

Created to provide a range of correspondent servicestraditionally provided by corporate credit unions, ProDraft – whichuses Cincinnati-based Fifth Third Bank to do much of its processing– does not require its users to put up capital and therein, saidWolf, lies the appeal.

Many credit unions that had been burned in the corporatecatastrophes of the past few years have shied away making newcapital commitments.

Even so, ProDraft has had slow going. “We had hoped to have 100customers by now. We have around 50,” said Wolf.

He attributed some of the slowness to a “wait and see attitude”among credit unions – especially in the West as they sought clarityabout Western Bridge's future.

Now that it has failed,and NCUA has awarded the rights to pursue its members toTexas-based Catalyst, Wolf said ProDraft is getting renewed interested fromCalifornia credit unions.

He elaborated that in addition to a concentration of NorthDakota credit unions, ProDraft – which won status as a preferredvendor per NAFCU – now has customers in Oregon, Utah, Montana, Connecticutand Minnesota.

Asked to forecast ProDraft's size a year from now, Wolf said,“We will be at least at 65 customers. We will be happy there. Andwe may be over 75.”

One way or the other, added Wolf, ProDraft is demonstrating onefact: “There are alternatives to traditional corporates.”