CU*Answers has recently announced the addition of Horizon Utah Federal Credit Union as its 90th stock owner. The Farmington, UT-based credit union serves more than 15,000 members in the Greater Salt Lake City Area.
According to the 100% credit union-owned CUSO, 2010 has been a record year, welcoming nine (9) new owners.
CU*Answers continued to say that its unique business model of providing ownership to its credit union clients is a significant differentiator from other players in the industry. By providing capital funding for research and development of new products and services, credit unions are able to share R&D development and technology risk and avoid large up-front implementation costs of new services.