The unsettled corporate market is triggering some fresh realignments in the Upper Midwest this week with a St. Paul CUSO broadening its processing and settlement assistance package to reach well outside of the region.
The reluctance of small CUs to recapitalize their corporate and instead seek out new providers is playing a part in the reshuffling but also tech chances in electronic delivery "have eliminated the boundaries and so the market is nationwide," said Michelle Carlson, vice president of the Minnesota Item Processing Corporate, a CUSO managed and partly owned by the Minnesota Credit Union Network.
Under its expansion strategy, MnIPC, which currently has over 120 CU clients mostly in Minnesota, is now signing up CUs in Michigan, Illinois, South Dakota and New Mexico, said Carlson.
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