LIVONIA, MI (June 28, 2013) In a move designed to better meet the needs of Michigan credit unions as well as the credit unions and other customers of CU Solutions Group nationwide, the boards of the Michigan Credit Union League (MCUL), CUcorp and CU Solutions Group (CUSG) have approved a plan to merge CUcorp into CUSG.
CUcorp, a wholly owned subsidiary of MCUL, has been focused on serving credit unions in Michigan with card solutions, lending products, consulting and partner relationships.
CU Solutions Group was formed in 2010 by combining CU Village, HRN, CUTS and Koker Goodwin into one company. The result is a national company offering solutions in four key areas: marketing, technology, membership enhancements and performance management. With the CUcorp merger, CU Solutions Group will now also offer performance solutions nationwide.
CU Solutions group is owned by MCUL and 125 other investors made up of 20 other leagues, 100+ credit unions and Credit Union System Organizations including CUNA Mutual Group, CUNA Strategic Services and CO-OP Financial Services.
“This merger will be a seamless transition that will serve to strengthen our company and its nationwide footprint,” MCUL & Affiliates CEO David Adams said. “It will also help us clarify our offering through one unified brand, as well as provide operational efficiencies and cost savings.”
“CU Solutions Group is well positioned to offer new and innovative ideas, services and products to meet the ever-changing needs of credit unions as the financial industry grows and expands in the future,” Adams said.
Adams will continue to serve as CEO of the Michigan Credit Union League and CU Solutions Group. Drew Egan, who previously served as President and COO of CUcorp will continue on as Executive Vice President and COO of CU Solutions Group.
The merger is set to take effect on July 1.