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Two Montana CUSOs merge

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HELENA, Mont. (10/1/08)--UniPro Systems Ltd. will merge with CUsource effective Oct. 15. Both provide back office support for credit unions. UniPro, a credit union service organization, is headquartered in Helena, Mont. It processes share drafts, and provides print mail services and network security. CUsource is a credit union service organization owned by 10 Montana credit unions. It provides data processing and real estate services to 27 credit unions in Montana. CUsource is headquartered in Great Falls. The Montana Credit Union League’s service corporation, League Service Group; Rocky Mountain CU; and CUsource have been equal investors in UniPro since its beginning. The merger will reduce redundancies and improve efficiencies, said Tracie Kenyon, Montana league and League Service Group president/CEO.

CUNA Mutuals CompleteEd makes first student loan

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MADISON, Wis. (10/1/08)--Tamara Sanner, 20, is completing her dream of continuing her education at the University of Wisconsin-Stevens Point with the help of CUNA Mutual Group’s CompleteEd private student lending plan.
Tamara Sanner, 20, was the first to receive a private student loan to fund her college education through CUNA Mutual Group’s new CompleteEd program. (Photo provided by CUNA Mutual Group)
She is the first recipient of a student loan in the program. Sanner, a Spanish major, hadn’t considered private student loans to pay for her education. “I found out about CompleteEd first through the Internet,” she said. “Then I called my credit union [Great Wisconsin CU] to ask for great options, and they recommended CompleteEd.” CompleteEd was introduced this summer and is offered by 40 credit unions nationwide. Qualifying credit union members can receive a 0.25% interest rate discount through the program. The application process was smooth and easy for Sanner. “My questions were all answered and the loan was processed quickly,” she said. “College costs are rising roughly 4% to 6% annually, so parents and students are looking for ways to close the gap on funding higher education,” said Jeff Meyer, CUNA Mutual vice president of product development. Sanner, a long-time Great Wisconsin CU member and Portage, Wis., native will graduate in 2010. “I don’t know how I would have returned to school without a private student loan,” she said. Great Wisconsin CU, Madison, Wis., has $427 million in assets.