Michigan CUSOs Add Owners, Release DDoS White Paper
CU*Answers and its sister CUSO, Xtend Inc., have added new owners and the Grand Rapids, Mich.-based core processor also Is offering a white paper on assessing DDoS risk.
The document describes a DDoS attack and what credit unions can do to protect themselves and prepare for examinations.
“DDoS attacks are in the news and on the minds of examiners,” said Scott Page, CU*Answers executive president.
“A credit union needs to show they have controls in place and a grasp of what the business impact can be – and be able to show examiners they are aware and proactive. This white paper provides credit unions a valuable resource to do just that,” Page said.
CU*Answers said the white paper is from AuditLink, the auditing and compliance division of CU*Answers Managed Services, and is available online.
Meanwhile, the new CU*Answers owners are the $14 million Thornapple Valley Community Credit Union in Hastings, Mich., and the $62 million Firefighters CU in La Crosse, Wis.
Page said eight credit union core processing clients have bought into the CUSO so far this year, bringing the total to 111. The technology CUSO’s CU*BASE core processing platform is in place at 175 credit unions under $250 million in assets at seven above $250 million, according to the Technology Survey from Callahan & Associates.
Also, the $20 million Kenowa Community FCU in Wyoming, Mich., and the $27 million Tri-Cities CU in Grand Haven, Mich., have bought ownership shares in Xtend Inc., an affiliated CUSO of CU*Answers in Grand Rapids.
That CUSO said it now has 70 owners and about 150 credit union users of its bookkeeping, member contact, back-office mortgage, partnered liquidity, shared branching, compliance monitoring and insurance services.