Michigan CUSO Merger Helps Clear Up Branding Confusion
How do you steer a brand out front, convince all involved of the potential savings and still deliver a suite of products and services to credit unions, hopefully, seamlessly? Consider a merger.
That’s what happened between CUcorp and CU Solutions Group when the two combined operations on July 1. The Lansing, Mich.-based CUcorp is a wholly-owned subsidiary of the Michigan Credit Union League & Affiliates. The CUSO serves the state’s credit unions with card services, lending products and consulting and partner relationships. Located in Livonia, Mich., CU Solutions Group was formed in 2010 by combining several entities including CU Village, HRN, and Koker Goodwin into one company, according to the league.
Like Adams, she sees how reduced expenses and increased efficiencies will impact all of CUSG’s stakeholders. By having only one management team, one back office operation and one board of directors, Buchanan said more resources will be available for continued research, development and possibly more strategic acquisitions in the future.
“With these increased sales and usage as well as with the reduced expenses, pricing will continue to be very competitive for all credit unions,” said Buchanan, CUSG’s treasurer. “Credit unions have already benefited greatly because of the very talented teams of both of these organizations.”