DULUTH. Ga. — CU Images, LLC, the joint venture company owned by Cooperative Services, Inc. of Atlanta, Palmetto Cooperative Services, Inc. of Columbia, S.C. and Credit Union Partnerships, Inc. of St. Louis, recently announced the completion of the SAS 70 type 2 audit from Orth, Chakler, Murnane and Company CPA's.
CSI is a CUSO owned by 60 Georgia credit unions. Formed in 1988 to handle check processing services for its owners, it provides payment services, shared branching and ATM, point of sale and debit card support services. PC, a wholly-owned service company of the South Carolina Credit Union League, provides check processing, statement processing and other support services for credit unions in multiple states. Credit Union Partnership is the wholly-owned subsidiary of the Missouri Credit Union League, and provides payment support, shared branching, and other services to credit unions in Missouri.
"It has become important to show regulators, our customers, our members and the general public that, even though we are operated by and for credit unions, we also are operated in the safe and sound manner that the industry has come to expect," said Charlotte Ayers, chair of the CU Images board.
Rosie Holub, CEO of the Missouri Credit Union Association, said "We knew when we joined CU Images a year ago that the services we needed to provide could be better and more cost effective with this joint venture. The three organizations provide support services to credit unions in nine states, sharing the cost over an even wider base. Credit unions working together, sharing costs and remaining competitive–this is good."
Lee Gardner, immediate past chairman of the CU Images board, said sharing the costs with other states makes sense.
"We have been able to raise the quality of what we do through this joint venture company," Gardner said.
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