MnCUN subsidiary's purchase expands footprint into North Dakota and complements a nationwide expansion effort that began several years ago.
On Sept. 1, MnIPC, a wholly-owned subsidiary of the Minnesota Credit Union Network, completed its purchase of ProDraft Services LLC, a Bismarck, N.D.-based CUSO that provides correspondent and EFT processing solutions.
The ability to raise capital continues to define the new corporate marketplace.
North Dakota CUSO executive says it has "around 50" customers, expecting more soon.
The Aug. 31 deadline for capitalizing – a date self-imposed by multiple corporate credit unions – is here. Who’s left standing? Who is folding?
It is countdown to an Aug. 31 deadline for United Resources, the new corporate that may rise out of Western Bridge, but there are plenty of signs that credit unions are looking for alternatives as the evidence mounts that the capital goal will not be reached.
North Dakota-based Midwest Corporate has shut its doors, choosing to liquidate rather than attempt to meet toughened NCUA financial yardsticks.
Cincinnati-based Fifth Third Bank continues to gain visibility as an alternative to corporate credit unions, but senior bank executives also made plain that their approach to credit unions fundamentally differs from a corporate’s.
ProDraft Services Inc. has hired Doug Wolf, the former president/CEO of Midwest Corporate Federal Credit Union, as the payment processing CUSO's new vice president, effective Dec. 1.
Doug Wolf, the former president/CEO of Midwest Corporate Federal Credit Union, has been hired as vice president of ProDraft Services Inc., a payment processing CUSO, effective Dec. 1.