eDOC Innovations, a leading Credit Union Service Organization (CUSO) based in Middlebury, VT, is pleased to announce the distribution of 18% of its 2021 earnings to its owners. These distributions come right as eDOC is starting to celebrate its 30th year of service to the credit union community in 2022. While some of eDOC’s credit union customers are larger institutions, the CUSO expressed pride in being able to help smaller institutions compete with the help of eDOC’s innovative products. Paying these earnings to owners is significant because many of those smaller credit union customers receive services at a discounted rate, based on their total membership.
Mark Fierro, eDOC’s CEO, explains more about this exciting achievement, “This is an important milestone for eDOC since our transition from a privately-owned company to a CUSO in 2007. Over the past 14 years, we have invested our owner’s capital in developing solutions that are in use at over 750 credit unions. Our owners have been very patient as we built a rock-solid foundation while maintaining a deep commitment to providing the credit union industry with innovative solutions at a price point that allows all credit unions to participate. A special thanks to our board of directors for declaring this dividend; I hope we can repeat this for years to come.”