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CUcorp, CUSG To Merge

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LANSING, Mich. (5/8/13)--The boards of the Michigan Credit Union League (MCUL), CUcorp and CU Solutions Group (CUSG) have approved a plan to merge CUcorp into CUSG.

The merger, which would take effect July 1, is pending shareholder approval in two weeks at the CUSG shareholder meeting, said Dave Adams, MCUL president/CEO.

MCUL also announced the resignation of Todd Mason, executive vice president and chief product officer for CU Solutions Group, and the hiring of Ken Ross, who will be executive vice president and chief operations officer of the trade association.

Ross formerly served the league as vice president of legislative and regulatory affairs, before becoming commissioner of what was then known as Office of Financial and Insurance Regulation (now the Department of Insurance and Financial Services). Most recently, Ross has been general counsel for Citizens Bank. He will start at the league Aug. 5.

CUcorp is a wholly owned subsidiary of MCUL. It offers credit unions member business services, insurance programs, operational support, lending and payment solutions.

CU Solutions Group is owned by more than 100 investors made up of leagues, credit unions and Credit Union System organizations including CUNA Mutual Group and CO-OP Financial Services. It serves offers nationwide solutions in four areas: marketing, technology, membership enhancements and performance management