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BELLEVUE, Wash. — Deciding which credit union partnerships to keep and which to end has been a difficult process, online broker ShareBuilder Corp. acknowledged.ShareBuilder will continue to have credit union partners, reiterated Kathy Schanno, a company spokeswoman, but not as many as in the past. The change comes after ShareBuilder was bought by ING DIRECT in November 2007. Since then, ShareBuilder’s CU clientele has dropped from 125 to approximately 50.“Although we have enjoyed working with our many credit union marketing partners, we have redirected resources elsewhere and are no longer able to support these programs at the same levels as in the past,” Schanno said.One of the broker’s first credit union clients, $4 billion Patelco Credit Union received notice in December that ShareBuilder will end their co-branded service agreement, effective January 2010. Schanno did not say how many CU agreements will not be or have not been renewed.

Health Plan to Debut

Peter Westerman

Credit Union Times

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