Telesis CCU Sells Equity Interest in Wholly-Owned CUSO

CHATSWORTH, Calif. – Telesis Community Credit Union’s wholly-owned member business lending CUSO, Telesis Partnerships, LLC, is no longer exclusively owned by the $306-million credit union. Telesis Community CU sold equity interest in the credit union to seven credit unions and one corporate credit union. In addition to Telesis Community CU, the owners of the CUSO are now: Community One FCU, Las Vegas, Nev.; Public Serv ice CU, Denver, Colo.; USA FCU, Auburn Hill, Mich.; Sierra Point CU, South San Francisco, Calif.; Travis CU, Vacaville, Calif.; Community CU, Plano, Texas; Patelco CU, San Francisco, Calif.; and WesCorp, San Dimas, Calif. Telesis Partnerships, LLC is now operating as Business Partners, LLC to reflect the multiple ownership. Telesis Community CU President/CEO Grace Mayo said the sale of equity shares in the CUSO “is the first step to accomplishing our goal of establishing a nationwide member business lending CUSO.The new equity ownership will provide a greater platform for our CUSO to operate from and will have the ability to offer more products and services to credit unions nationwide.”