WINSTON-SALEM, N.C. — Lisa Renner, CEO of CU Holding Company LLC, and Jeff Russell, CIO/vice president strategic development at The Members Group and executive vice president of affiliate TMG Financial Services, have been elected to Co-operative Payroll Solutions, LLC.
CPS is a subsidiary of Allegacy Services, LLC, a CUSO owned by $1.2 billion Allegacy Federal Credit Union. The CUSO began payroll processing for Allegacy FCU in April 2006. Those services were then extended to other credit unions and Allegacy FCU's commercial membership.
"Lisa Renner and Jeff Russell share my strong relationship with the National Association of Credit Union Service Organizations and they embody the spirit of collaboration and innovation that helped create Co-operative Payroll Solutions," said Ray Crouse, chairman of CPS. "Both have extensive experience in the industry, and we're fortunate that we could harness their insight and energy to help guide this growing CUSO."
CPS currently processes payroll for more than 1,400 employees with a client base formed from credit unions, CUSOs, and commercial members in 15 states. The CUSO will celebrate its second anniversary in October.
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