Lending Tools, the Wichita, Kan., provider of third-partycorrespondence services, announced Monday that it had reachedagreement to replace Louisiana Corporate's APEX ACH system withLT's Private Correspondent Gateway.

David Savoie, CEO of LaCorp in Metairie, La., said in astatement, “It was important for us to find a vendor with theexperience and technology to help us continue providing highquality operational services to our member credit unions. LT has aproven track record for providing specialized technology tocorrespondent institutions and can do so in a time frame that meetsour needs.”

Savoie stressed in an interview that LaCorp's proposed merger with Irondale, Ala.-based Corporate America remains ontrack. “It has been approved by the state bodies in Louisiana andAlabama and now the paperwork is with NCUA.”