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CorpStar FCU At A Glance

* Formerly South Dakota Corporate FCU (name change occurred this March), * The nation's smallest corporate with $100 million in assets * Serves 62 CUs in South Dakota. * FOM: Recently expanded its FOM to be able to present check imaging, item processing and service bureau DP in the Fed's...

By Staff Writer | Updated on August 07, 2001

* Formerly South Dakota Corporate FCU (name change occurred this March), * The nation’s smallest corporate with $100 million in assets * Serves 62 CUs in South Dakota. * FOM: Recently expanded its FOM to be able to present check imaging, item processing and service bureau DP in the Fed’s 9th and 10th districts. * President/CEO: William Wood since October 2000. Wood was formerly president/CEO of Tongass FCU, Ketchikan, Alaska. Prior to that he was a regional manager with Washington Trust. “I had a philosophical difference with the direction banks were going,” said Wood of leaving the banking industry. “Banks are choosing what customers they want, putting fees on everybody else. And being a manager for a credit union is as close to being entrepreneurial as you can get in the financial world.” * Including staff and systems, Wood estimates the corporate spends about $500,000 on technology each year.

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