The National Federation of Community Development Credit Unionsannounced a deal Tuesday that will allow the trade group to developa common core processing platform for member CDCUs.

The deal, with the Birmingham, Ala.-based software CUSO EPL Inc., will produce a processing platform that accommodatesongoing innovation, facilitates collaboration and shared services,and increases the impact of CDCUs, the National Federationsaid.

Earlier this year, Dedagroup SpA, an Italian firm with a historyin core processing, purchased a majority position in EPL andrefinanced the CUSO.

“This is the next chapter in the evolution of communitydevelopment credit unions,” National Federation President/CEOCathie Mahon declared. “With the ability to integrate new productsand services into the core data system in an affordable and timelymanner, CDCUs will be able to remain nimble and respond rapidly tocommunity needs. We will be able to develop asset-building andpro-consumer products, and provide a consistent level of service,creating opportunity for members across the nation. This is a hugewin, not just for credit unions, but for all of our partnersworking in low-income communities.”

The new platform will accomplish three objectives, the NationalFederation said. First, it will allow CDCUs to more easily developand adopt product enhancements for the lower income communitiesthey serve.

Second, it will allow CDCUs to more easily track and reportcommunity development outcomes and impacts. Finally, it willallow for the development of a shared back-office, leading togreater economies of scale and efficiencies.

“EPL is thrilled to join the Federation in their ongoing effortsto support the growth and technological advancement of creditunions operating in underserved communities,” EPL President/CEOWayne Benson said. “Our team brings both decades of experientialknow-how and a comprehensive core solution, i-POWER, that will adddepth, functionality and expanded capabilities to the CU Impactplatform. This partnership will not only help CDCUs effectivelymanage growth, but also provide an enhanced technical offeringpaired with a level of customer service deserving of any creditunion member.”