Alloya, the Warrenville, Ill., corporate credit union thatrose out of Members United Bridge, announced Tuesday that ithad inked a deal to outsource its item processing to Duluth,Ga.-based VSoft Corp., a leader in financial services technologythat claims some 1,900 financial institutions worldwide ascustomers.

In a prepared statement, Charles W. Furbee, acting CEO ofAlloya, said, “Alloya will benefit from reduced operating costs andimproved net product margins, reduced facilities expenses, and adeepened partnership with a best-of-breed company in the itemprocessing space.”

“This transaction perfectly illustrates our go-forward strategyof partnering with quality companies to provide value addedservices to our members on an aggregated basis, rather than Alloyamanufacturing them itself,” Furbee continued.

The announcement indicated that VSoft had agreed to hire Alloyaemployees who stood to be impacted by the shift of item processingto a third party.

VSoft has long been prominent in the image processing industrythat arose after Check 21 became law, including laying claim toserving more than half the corporatecredit union industry before its collapse.