Wescom Resources Group said it has invested more than $1.6 million in its service bureau for credit unions running the Symitar Episys core platform.
First Lincoln Credit Union in Lincoln, Neb., has broadened its service footprint for its 3,000 members by adding shared branching from CU Service Network.
The $1.5 billion GTE Federal Credit Union said it recorded an average increase of 83% in monthly lending volume in the second half of 2011.
Record sales of its core products in 2011 helped Wescom Resources Group take in $939 million and maintain average annual growth of 25% through its 10-year history.
Wescom Resources Group said record core product sales helped drive revenue in 2011 to $9.39 million while maintaining an average annual growth of 25% through the 10-year history of the tech CUSO of Wescom Credit Union.
oFlows Inc., a San Francisco-based provider of paperless origination solutions for credit unions and banks, has been sold to online account opening pioneer Andera Inc. of Providence, R.I.
Money is flowing out of banks and into credit unions, especially from Bank of America and especially into bigger credit unions.
CUNA said Thursday that a survey of 5,000 credit unions shows that least 650,000 consumers have joined in past month.
Three credit unions among 15 financial institutions visited online by "secret shoppers."
"Switch kits" get a workout as disaffected bank customers move on in, many from Bank of America.