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CU System
Statement printer LaserTech ceases operations
MADISON, Wis. (4/7/08)--An electronic printing and mailing firm based in Madison, Wis., has unexpectedly closed its doors, leaving some credit unions who were its clients without statement-mailing services. Laser Tech of Madison Inc. posted a statement on its website, www.lasertechinc.com, saying it was ceasing operations immediately "due to a series of unexpected and unfortunate financial circumstances." It said customer service representatives would contact clients to let them know of the status of any jobs in the process. However, it noted: "LaserTech will not be able to complete any of these jobs. You must find another vendor to complete your job." The firm understood its closure puts its customers, employees and families in "very difficult circumstances," said the company's notice. "We are very sorry for this and apologize," said the statement. It was not known how many clients the firm had and how many were credit unions.


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