Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
MnIPC Acquires ProDraft Services
ST. PAUL, Minn. (9/9/13)--MnIPC, a wholly-owned subsidiary of the Minnesota Credit Union Network, has completed the purchase of ProDraft Services LLC, a North Dakota-based credit union service organization (CUSO) that provides correspondent and electronic fund transfer processing solutions.
 
Based in St. Paul, Minn., and serving clients nationwide, MnIPC is an independent item processor serving credit unions for more than 30 years.
 
Together, the combined companies will move forward under the MnIPC name.
 
The merging of two companies creates additional strength for MnIPC clients and offers a continuation of the services offered by ProDraft, with the benefits of enhanced technology, greater efficiencies and increased financial stability, MnIPC said. In addition, the merger allows MnIPC to offer expanded products and services to its clients and be well-positioned for future growth opportunities.
 
The purchase of ProDraft expands MnIPC's footprint into neighboring North Dakota, which complements its nationwide expansion that began several years ago. Earlier this year, MnIPC announced a cooperative effort with CUsource in Montana, adding CUSOs to its client list and enabling the company to showcase its quality of service on a national level.
 
The acquisition of ProDraft allows MnIPC to increase volume, pricing power and overall efficiencies.


RSS





print
News Now LiveWire
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
45 minutes ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 hours ago
Data breach fatigue? No wonder: 45% of Americans said they had received breach notification from retailer/card-issuer http://t.co/gRIuZanUNQ
3 hours ago
Season's greetings from playlists to cookies #NewsNow http://t.co/5gu8nrCoyL
3 hours ago
Panelists decrypt payment trends for #creditunion leaders http://t.co/rXvI63w1sU
3 hours ago