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CO-OP to acquire CUNA Mutual LoanLink Center
MADISON, Wis. (10/8/09)--CUNA Mutual Group announced Wednesday that CO-OP Financial Services will acquire CUNA Mutual’s The LoanLink Center. Under the agreement, effective Oct. 31, CUNA Mutual and CO-OP will work together to strengthen The LoanLink Center’s lending and member services product lines. The acquisition will give CO-OP another way to offer members continuous access to their credit union accounts and will help sustain and expand credit union call center support. The transition will be transparent to existing customers of The LoanLink Center, with no immediate changes planned for the business. CO-OP will assume operations and all employees for The LoanLink Center, which will continue to operate in Fort 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 cross-sell insurance on lending transactions. The purchase of The LoanLink Center by CO-OP extends the mutual use of the credit union owned Next Generation Network (NGN) conduit. Through an agreement in 2003, credit unions have leveraged existing connectivity to CO-OP’s NGN platform for lending and member service call center activities. CO-OP Financial Services offers ATM processing, check imaging services and mobile payments. It also has 28,000 surcharge-free ATMs and 3,700 shared branch locations.
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