For more information:
Maripat Blankenheim 608/232.6539 maripat.blankenheim@cunamutual.com
Bill Prichard 800/782.9042 ext. 3450 bill.prichard@co-opfs.org
Agreement to Strengthen Call Center, Commitment to Credit Union Industry
MADISON, Wis. – To reinforce its commitment to the success of credit unions and their members, CUNA Mutual Group is announcing CO-OP Financial Services will acquire The LoanLink Center. Under the agreement, effective Oct. 31, 2009, CUNA Mutual and CO-OP will work together to strengthen the The LoanLink Center’s lending and member services product lines.
The acquisition will give CO-OP another way to offer members 24×7 access to their credit union accounts and will help sustain and expand credit union call center support. The transition will remain transparent to existing customers of The LoanLink Center, with no immediate changes planned for the business.
“Our agreement with CO-OP brings together two companies equally committed to the success of the credit union market,” said Jeff Post, President and CEO of CUNA Mutual. “Our agreement maximizes the strengths of both companies. CO-OP offers expertise in building innovative access and channel support, while CUNA Mutual is able focus on its core insurance products.”
Under the terms of the agreement, CO-OP will assume operations and all employees for The LoanLink Center, which will continue to operate at its present location in Ft. Worth, Texas. The companies will partner in the sales and remarketing process, and CO-OP will rely upon CUNA Mutual’s loanliner.com and Lenders Development Program to enable the cross sale of insurance on lending transactions.
“The LoanLink Center was a natural fit to expand our current call center competencies because it was built by an organization that shares our philosophy and our fervent commitment to the success of credit unions.” said Stan Hollen, President/CEO, CO-OP Financial Services. “With its highly trained employees, modern technology and a state-of-the-art facility, The LoanLink Center will allow us to extend front-line member service and continue to add great value to the member experience.”
The purchase of The LoanLink Center by CO-OP extends the mutual use of the credit union owned NGN (Next Generation Network) conduit for even greater accessibility to the most innovative financial delivery products. Through an exclusive agreement established in 2003, credit unions have been able to leverage their existing connectivity to CO-OP’s NGN platform for lending and member service call center activities.
CO-OP Financial Services is the industry leader in access and convenience products for credit unions. Nearing 30 years of credit union service, CO-OP connects credit union members to offerings like their nationwide ATM network, debit processing services, ATM processing and other account-driven access channels such as shared branching, check imaging services and mobile payments. 3,000 credit union members, 26 million cardholders, 28,000 surcharge-free ATMs, 3,700 shared branch locations, plus 155 million-plus monthly transactions, make CO-OP the nation’s largest CUSO with the tools, knowledge and leadership to help credit unions prosper. To learn more, visit http://www.co-opfs.org.
CUNA Mutual Group is a leading provider of financial services to credit unions, their members and valued customers worldwide. With more than 70 years of market commitment, CUNA Mutual’s vision is unwavering: to be a trusted business partner who delivers service excellence and customer-focused, best-in-class products and market-driven innovation. More information on the company is available at http://www.cunamutual.com.
