First announced in July 2014, the merger will become effective Feb. 28.
WOCCU advocates for credit unions struggling under the weight of AML, BSA and other regulatory burdens.
Illinois-based Alloya to maintain suburban Detroit office of CenCorp after merger closes on April 30.
Credit unions often find it difficult to provide international payment services to their members, the demand for international drafts, wires, international ACH and encashment of foreign receipts grows daily as global trade becomes an increasingly important part of business for companies and individuals.
The wind down of U.S. Central Bridge Federal Credit Union’s payment services “has progressed more smoothly than originally anticipated”, the NCUA said in a recent letter to credit unions.
Agency says ACH to transition completely by Sept. 30 with complete shutdown now expected on or about Oct. 31 instead of Dec. 31.
The ability to raise capital continues to define the new corporate marketplace.
The $2.4 billion Corporate Central Credit Union will now offer credit unions the option to establish membership at less or no capital commitment.
Core Network Processing LLC, a CUSO that provides core processing and an Internet portal to eight corporates, has inked a pact with Alloya Corporate Federal Credit Union for technology and related services.
Corporate said it will be providing technology and related services to Core Network Processing LLC, a CUSO that provides processing, Internet portal to eight corporates.