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CUNorthwest projects profits
SPOKANE, Wash. (5/13/11)--After completing a mid-year budget revision, CU*NorthWest, a core system provider, is projecting a profitable year. Running a fiscal year from October through September, CU*NorthWest’s management and board of directors ‘recast’ the remaining six months of the fiscal year each March. During that recent planning session with its board of directors, CU*NorthWest management confirmed a profitable forecast for the year. “This is not an easy economy and the financial institutions we serve are challenged as well” said Greg Smith, President and CEO of CU*NorthWest. “We are therefore very pleased to be projecting positive numbers for our stockholders and clients this year.” CU*NorthWest continues to grow in spite of the market consolidation and challenges of serving credit unions in a sluggish economy, Smith said. “Together as partners in CU*NorthWest, our client owners and the management team are achieving fiscal health without the need to raise prices,” he added. CU*NorthWest is owned entirely by credit unions.


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