CU*Answers Inc. has partnered with Chatter Yak! to become theCUSO's first equity investor.

Based in Oshkosh, Wis., Chatter Yak! specializes in marketing, social media, websitedevelopment and branding. The CUSO said it is hoping that the newownership and partnership relationship with CU*Answers will helppromote innovation with social media and financial literacy withinthe credit union industry.

“We see social media not as a tangent to member service andcontact, but a core competency need for the future,” said RandyKarnes, CEO of CU*Answers, a Grand Rapids, Mich.-based CUSO that provides coreprocessing, Internet development services, and online and mobilebanking.

Karnes added, “We hope this investment is a step towards abetter understanding for everyone involved. Chatter Yak! should befun, and I like the people who are lining up to have some fun herefor years.”

Kevin Ralofsky, Chatter Yak! co-founder and CEO of the $395million CitizensFirstCredit Union in Oshkosh, Wis., said the CUSO is looking forwardto the possibilities through the alliance with CU*Answers.

“We have always pushed a culture of curiosity to challenge theway credit unions should think about their relationships withmembers and their communities,” Ralofsky said. “With thispartnership we hope to drive a deeper and more meaningfulunderstanding of how credit unions blend everyday business withsocial data and the member experience.”

Karnes said he is optimistic about the opportunities socialmedia can bring.

“Who knows where this is going — will any current, popularservice exist 10 years from now, who knows,” he said. “What I doknow is 10 years from now, credit unions and CUSOs will have tounderstand how to roll with the evolution, integrate digitalstrategies into their business plans, and engage members where theychoose to be active.”

In addition to Karnes and Ralofsky, Chatter Yak!'s new board ofdirectors includes:

• Chris Butler, CU*Answers board chair and CEO of Community CU inLa Crosse, Wis.
• Bryce Roth, Chatter Yak! co-founder
• Karrie Drobnick, CitizensFirst CU vice president ofmarketing

The CUSO's advisory committee consists of:

• William Wuske, CitizensFirst CU EVP/COO
• Bob Matz, CitizensFirst CU CFO
• Linda Bodie, CU*Answers board director and CEO of Element FCUin Charleston, W.V.
• Brett Wooden, Cy-Fair FCU senior vice president Marketing +Innovation in Houston
• Tammy Williams, Best Advantage CU CEO in Brillion, Wis.
• Jim Vilker, CU*Answers vice president of professional servicesin Grand Rapids, Mich.