MADISON, Wis.–When LaserTech, the electonic statement printing company posted a notice on its web site last week announcing it had ceased operations its clients were left wondering what happened.

Because LaserTech said jobs in the pipeline will not be completed, CUs are seeking other vendors. Stepping in to assist some CUs is the Grand Rapids-based CU*Answers, said Melinda Haehnel, Market Relations Manager. CU*Answers has built a network of five individual business partners they call cu.asterisk.com. Four are CUSOs: CU*Answers, CU*NorthWest, CU*South, eDOC Innovations, and Xtend, Inc. While CU*NorthWest and CU*South are data processing providers, the others provide electronic data archival and imaging products, financial and mortgage origination services, loan collection, bookkeeping and back office functions.

Dave Hancock of Xpress Data, Inc. (www.xdi.com) San Diego, which specializes in the printing and mailing of daily notices to CU members said the company can provide immediate help with the printing and mailing of their daily member notices. "Notices of past-due payments and maturing CDs are important because they are timely," said Hancock. While there are any number of statement printers that CUs may now send that business to, it may take longer, he said, owing to the need to convert from various DP platforms."

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