ADA, Mich. — CUSO Development Company LLC, a national CUSO holding company formed by Tom Davis and Cory Mackwood based here has been building momentum quietly and now has roared into business by signing four Class A credit union investors. Focused on fulfilling the advantage of collaborative benefits in delivering real estate, mortgage and insurance products CDC's vision is to create economies of scale for credit unions of all sizes, but especially seeks CUs from $250 million-in-assets to $2 billion.

The initial investors are Workers Credit Union, Fitchburg, Mass., ($567 million-in-assets), 1st Advantage Credit Union, Newport News, Va., ($489 million), Sun East Federal Credit Union, Aston, Pa., ($323 million) and CommonWealth One Federal Credit Union of Alexandria, Va., ($236 million).

CDC will build several subsidiary credit union-owned companies to provide core products and services to credit union members and the general public, said Mackwood. CDC will open its first two subsidiaries, Member Advantage Mortgage and Member Advantage Title in the fall of 2007. "We are negotiating with other leading credit unions in several regions of the country," he said.