California League, CURoots in Talks to Transfer CUSO’s Ownership
The California Credit Union League and CURoots Cooperative said they are in discussions to transfer the CUSO’s ownership to the California League Services Corp.
The Ontario, Calif.-based CUSO offers shared compliance services, internal audit services and CUVitality, a collective health benefits service for credit unions that offers medical benefit plans provided by Kaiser Permanente and United Healthcare.
“The ownership of CURoots would expand from 18 organizations to the 324 credit unions that own the California and Nevada Credit Union Leagues,” said Diana Dykstra, president/CEO of the California CU League.
Under terms of the transfer proposal, all member credit unions will become eligible for CURoots’ preferred member pricing, according to the league. CURoots’ services would continue interrupted.
“This represents a great opportunity for CURoots users and potential users who will benefit from the streamlining of efforts and the cost savings that will be realized,” said Gary Perez, CURoots board chairman and president/CEO of the $362 million USC Credit Union in Los Angeles.
The sale and transfer of assets is subject to a membership vote with approval requiring a simple majority, the league said. A special CURoots membership meeting is scheduled for Feb. 15.