A company that sells insurance and financial services to credit unions has bought a 30% stake in a CU Direct subsidiary that offers similar services.
Allied Solutions, based in Carmel, Ind., is buying a stake in CU Direct's Vero LLC subsidiary, which sells specialty insurance for credit unions and auto dealers. Core products include identity theft recovery solutions for credit unions and their members, Mechanical Breakdown Protection (MBP) and Guaranteed Auto Protection (GAP).
CU Direct, a CUSO based near Los Angeles, provides online technology for more than 1,000 credit unions to engage members and originate loans, including the CUDL auto lending platform.
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