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The Grand Rapids, Mich.-based CUSO CU*Answers is selling the Check Item Processing portion of its business to eDOC Innovations, the two organizations announced Friday.
The financial terms of the deal, which is expected to close on March 31, 2025, were not disclosed.
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According to eDOC Innovations and CU*Answers, the acquisition will unite manufacturer with service provider under a single organization, enhancing efficiency and service continuity for the credit union community.
The two organizations have an existing partnership that spans nearly two decades. CU*Answers has been processing the forward collection needs of eDOC’s 278 credit union clients using the eDOC CheckLogic Suite since 2007. Additionally, CU*Answers’ credit union clients are already leveraging technology produced by eDOC Innovations, with 115 credit unions using share draft processing services from CU*Answers powered by eDOC Innovations.
“The timing is perfect to bring the manufacturer and service provider together under a single entity,” eDOC Innovations CEO Mark Fierro said. “Our priority is ensuring a seamless transition for the credit union community and the staff involved. Credit unions can expect the same dedicated team and exceptional support from day one.”
CU*Answers CEO Geoff Johnson added, “This has been a fantastic collaboration over the past 18 years, and I have full confidence in the technology and team that will continue to serve the needs of credit unions going forward.”
The Middlebury, Vt.-based eDOC Innovations has been in business for over 30 years and provides credit unions with mobile enterprise digital transaction management and e-commerce software.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
