The $9.8 million Newrizons Federal Credit Union in Hoquiam, Wash., has become the 16th owner of CU*NorthWest, the core processing CUSO said.
“Newrizons is thriving. We’ve had phenomenal membership growth and been able to provide really innovative products and services,” said Newrizons CEO Ynette Gibbs. “Buying a share of CU*NorthWest is an investment to continue our own future success.”
CU*NorthWest now provides about 25 credit unions with the CU*BASE core processing system and other services through CU*Answers in Grand Rapids, Mich., as a member of the cuasterisk network, the Liberty Lake, Wash., CUSO said.
CU*NorthWest was launched in 2005 and paid its first dividend to stockholders last June, and continues to offer a one-owner, one-vote ownership policy to mirror credit union governance models, the company said.