In a move seemingly aimed at creating a payments CUSO large enough to compete with PSCU Financial Services, CO-OP Financial Services and the The Members Group have announced a cooperative marketing and product development partnership.

Under the agreement, CO-OP will make a "strategic investment" in TMG, a payments and services CUSO affiliated with the Iowa Credit Union League. Executives with each organization declined to reveal the scope of the investment.

Both organizations will retain their management structure and independent product offerings, but each will also offer the other's products and services and cooperate on strategic marketing, planning and development, executives said in a Jan. 5 press call.

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