CU Business Group's Latest Corporate Partners Decide Not to Own

PORTLAND, Ore. – CU Business Group, LLC now has 10 corporate credit union partners. The business services CUSO, originally formed by Northwest Corporate FCU, has added two more corporate partners – TriCorp FCU and Constitution State Corporate CU. That brings to 10 the number of corporates that are utilizing CU Business Group, LLC. The two latest corporates however are not joining on as owners, as the previous eight have. Northwest Corporate President/CEO Kathy Garner said this latest agreement, which doesn’t require the corporates to invest in the CUSO, demonstrates CU Business’ Group’s flexibility in adding more corporate partners. “We can handle more. A couple more corporates are looking at it again. We’re trying to be as open as possible,” said Gerner. She said TriCorp and Constitution didn’t have to invest any capital or pay any set-up fees. Constitution said this agreement just formalizes something it was doing anyway. “We have been referring our credit unions to them because we felt CU Business Group offers the best overall program. That made the decision to enter into a formal partnership with them an easy one,” said Constitution State Corporate President/CEO Bob Nealon. CU Business Group’s eight corporate owners are Northwest, FirstCorp, Empire, Mid-States, First Carolina, Louisiana Corporate, VACORP and VolCorp. CU Business Group is currently providing business services to 98 CUs in 21 states.