CU Solutions Group Acquires MemberXP
The purchase is part of a vision to become the industry leader in credit union member engagement data.
CU Solutions Group has acquired one of the country’s largest providers of direct credit union member feedback, according to an announcement from the CUSO.
The target of the acquisition was Denver-based MemberXP, which serves more than 100 credit unions across the United States and collects member feedback on processes, products and employees. Financial terms of the deal were not disclosed.
CU Solutions Group (CUSG), which is based in Livonia, Mich., and is majority-owned by the Michigan Credit Union League, said the purchase is part of a vision to become the industry leader in credit union member engagement data.
“MemberXP provides an exciting opportunity for CUSG and specifically for our Marketing Solutions, LLC,” CU Solutions Group President and CEO Dave Adams said. “The additional capabilities strengthen and extend the services offered by both MemberXP and CUSG and enhance our complete solutions approach. With a range of high-profile clients, the acquisition of MemberXP supports our shared plans to help credit unions meet increasing demands by their members for seamless online and offline interactions.”
MemberXP has 11 employees, according to the announcement. Its average credit union client has $750 million in assets, though at least 20 have more than $1 billion in assets. The company’s MemberShoppers product helps credit unions gather member feedback, and its MemberView product “helps credit unions uncover member journey experiences through a member voice analytics engine.”
“CUSG’s acquisition of MemberXP provides a major growth opportunity for both our business and extended services for our credit union clients,” MemberXP founder Constance Anderson said. “With the stability and backing of one of the industry’s leaders in marketing and technology solutions, MemberXP customers will benefit from improved products, services and innovation. Likewise, the services we bring to CUSG enable us to meaningfully enhance the marketing solutions they already provide across the industry.”
CU Solutions Group said the two entities will continue operating under their own names, though the branding will align with the CUSO to highlight the new connection between the two businesses.