CUNA Strategic Services of Madison, Wis., has made a financial investment in the CU Solutions Group of Livonia, Mich., giving CSS an ownership stake in CUSG, the organizations announced Wednesday in a joint prepared statement.
The amount of CSS's financial investment was not disclosed.
"The investment made by CUNA Strategic Services into CU Solutions Group, in addition to our marketing alliance, further validates that our company is offering the right type of member enhancement solutions to credit unions across the nation," said Dave Adams, CEO of CUSG. "Having the financial backing of an affiliate of our national trade association for credit unions brings a powerful voice to our organization."
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CSS investment also solidifies an existing marketing alliance between the two entities.
The existing marketing alliance between CUSG and CSS was established to help bring greater awareness of CUSG's partnerships to credit unions to help drive auto loans, build member loyalty and generate non-interest income, according to the prepared statement.
The marketing agreement focuses on member offers and discounts for products and services like GM vehicles, Sprint wireless services, and Intuit TurboTax.
"We believe CUSG's member enhancement offerings increase the credit unions' value and deepen a member's relationship with their credit union," said Wes Millar, senior vice president of CSS. "Our investment helps CUSG continue on the path of reinforcing this value proposition to America's credit unions."
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
