CU*NorthWest (CUNW), which provides the Northwest with the flagship core data processing system, CU*BASE, recently announced that it has added 2 more owners to it ranks. PrimeSource Credit Union ($45MM and 5,600 members) and Cheney FCU ($65MM and 4,800 members) both became owners in 2009 through the purchase of stock.
“We fully support the concept of a credit union owned CUSO represented by CU*NorthWest and felt it was a great opportunity to have a voice with our data processor. We look forward to a long and mutually beneficial relationship” says PrimeSource Credit Union CEO, Margaret Burkholz.
Cheney FCU’s CEO, Jo-An Sanders resonates with: “We are very excited to be taking an early ownership position with CU*NorthWest. We look forward to participating as owners in a CUSO whose core values so closely emulate our own and helping to continue the rapid and quality growth of its business”.
Ownership does require that a credit union have a core processing contract with the CUSO. CU*NorthWest now has 13 owners and expects to add more in the next calendar year.