Lending Tools in Wichita, Kan., announced Tuesday it had inked adeal to provide correspondent services to Kentucky Corporate CreditUnion in Louisville, Ky.
|The statement indicated that Lending Tools will provide a fullreplacement and enhancement to Kentucky Corporate's APEX ACHfunctionality with the addition of international wire transferservices.
|Kentucky Corporate will also take advantage of Lending Tools'direct connection to the Fed allowing automated ACH file deliveryof inbound and outbound files.
|“We were looking for a business partner with integratedtechnology, proven experience and the dedication to help ustransition our members with little interruption to their day-to-dayoperations,“ said Jim Thompson, CEO of KentuckyCorporate,in a prepared statement. “We feel LT's technology will not onlyhelp us meet this goal but will also provide us with the bestopportunity to expand services for our members with an emphasis onbeing cost sensitive.”
|Lending Tools earlier had told Credit Union Times it was seeing a “pilgrimage”of corporates coming to it in the wake of the collapse of effortsto sell off portions of failed corporate U.S. CentralBridge.
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