GRAND RAPIDS, MI – December 6, 2012 - 100% Credit Union-owned CUSO, CU*Answers, announced the recent signing of Lake State Federal Credit Union located in Moose Lake, Minnesota to a new CU*BASE® online processing agreement. The credit union has also decided to become an owner of the core data processing CUSO.
Per a Lake State FCU representative, “Lake State Federal Credit Union was looking for an enterprise-wide core data processing platform that offered stability, an ongoing product evolution, and strong integration.” Timothy J. Smith, President/CEO at Lake State Federal Credit Union, stated, “CU*Answers provides a comprehensive, proven core platform that will enhance our business services. The added efficiencies, along with analytical capabilities and forward thinking products including It’s Me 247 Online Banking, Mobile Banking, and Mobile Capture will enable Lake State to provide better member service.”
CU*Answers added that in combination with its CU*Northwest and CU*South network partners, the total number of credit unions utilizing CU*BASE in either an online or in-house operating environment has now passed 200 in over 25 states, with approximately 1.5 million members processed daily. CU*Answers concluded by stating that approximately 65% of its CU*BASE clients have now invested in CU*Answers Stock Ownership, with each credit union Owner maintaining an equal ownership share and full voting privileges.
About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 40+ years ago, CU*Answers is a 100% credit union-owned CUSO providing services to credit unions representing nearly 1.5 million members and $10 billion in credit union assets. For more information, visit www.cuanswers.com.