WINSTON-SALEM, N.C. — Co-operative Payroll Solutions, LLC recently elected Lisa Renner, CEO of CU Holding Company LLC, and Jeff Russell, CIO/vice president strategic development at The Members Group and executive vice president of affiliate TMG Financial Services, to its board.

CPS is a subsidiary of Allegacy Services, LLC, a CUSO owned by $1.2 billion Allegacy FCU. The CUSO began payroll processing for Allegacy FCU in April 2006. Those services were then extended to other credit unions and Allegacy FCU's commercial membership.

CPS currently processes payroll for more than 1,400 employees with a client base formed from credit unions, CUSOs, and commercial members in fifteen states. The CUSO will celebrate its second anniversary in October.

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