WESCO Acquires One-Man Band Firm; Continues to Diversify

KENTWOOD, Mich. – WESCO has acquired JVS Jvergent Solutions, a credit union marketing and consulting firm. WESCO President/CEO Randy Karnes said JVS Jvergent Solutions is really a one-man band and WESCO was very interested in the one man. Jim Conroy founded and is CEO of JVS. “He’s been with Harland and North and a few other firms. He’s a very experienced guy in the IT sales world,” said Karnes. “He’s just a really good guy. We talked him out of his individual work to work for us over at WESCO,” said Karnes. “Over the last eight years we’ve only had about one and a half salesmen. Bringing Jim on will help in some new things we want to do,” said Karnes. WESCO, a CUSO, has certainly diversified over the years. Known best for its data processing solution CU*Base, Karnes said WESCO is now about much more than DP. “We’re involved in shared branching, consulting, planning sessions. We’ve really been expanding. We’re going to rebrand under the brand CU*Answers,” said Karnes. WESCO is also getting into the financial services business through a new CUSO Xtend, which is owned by 18 WESCO CU clients. Karnes said WESCO plans to start slicing up its products. Currently to get home banking and other products, CUs have to be on the WESCO system. It now wants to offer products independent of the DP system. “Most vendors are targeting the top 1,000 credit unions. We’ve always been a great player in the middle of the credit union market,” said Karnes. Karnes is also playing a lead in Members Value Network, a new credit union consulting firm being spearheaded by former Patelco CU CEO Ed Callahan. Karnes said there are some Members Value Network formation meetings coming up that should clarify what direction it is going in. [email protected]