LITTLE ROCK, Ark. — The Arkansas Credit Union League said Thursday it is moving ahead with its plan for an indirect CUSO filing incorporation papers with the state and giving the limited liability entity a name: Arcuso.
"We're still on track to be ready for business by Sept. 1," said Becky Brosius, chair of the league and president/CEO of Alcoa Community CU of Benton.
She declined to reveal details of the capital offering except to note that $1 million is to be raised to launch the CUSO which will have its headquarters in a central Arkansas community.
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While other state leagues have previously joined up in co-op deals with individual CUs, Arcuso represents a somewhat novel approach on indirect in which all Arkansas CUs are being asked to invest in the firm underscoring a statewide push to generate loan volume and members.
CU officials were particularly pleased about selection of the name which incorporates "Arkansas" and a play on "our." Listed as agent for Arcuso with the Arkansas Secretary of State is Reta Kahley, president/CEO of the league.
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