LAKEWOOD, Colo.–CU Service Network said it has made a $1 million distribution to shareholder credit unions. The company has 47 owners spread across the Rocky Mountain and Plains states, many of which have been owners for more than 20 years, the company said.
“We were able to apply gains from the sale of our remaining Credit Union Service Corporation stock to CO-OP Financial Services for a significant gain,” President/CEO Doug Burke said. “Combined with continued success of the company’s operations gave us the ability to create a substantial distribution.” CU Service Network said it had significant accomplishments over the past year, including
- Continued growth in its flagship product, shared branching
- Expansion in accounting services to grow the operation by 168%
- Introduction of a new cloud services program through its partner CUProdigy
- Signing an agreement to offer HRO services to credit unions through OnePoint HRO
“The distribution credit unions are receiving demonstrates the power of collaboration! Only by working together would we have been able to accomplish this,” said Burke.