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.
If 2010 was any indication of just how busy NAFCU Services Corp. was, this year could be a repeat times two.
Picture a credit union universe without corporate credit unions. Not a one. ProDraft Services, a Bismark, N.D., CUSO, insists that such a world is not only possible, it may actually be better for credit unions.
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.
Credit union owners and clients of ProDraft Services Inc. will have access to correspondent banking services through the CUSO's partnership with Cincinnati-based Fifth Third Bank.
Fifth Third Bank said it has partnered with ProDraft Services Inc. to provide correspondent banking services to the CUSO's credit union owners and clients.