CU System Partners
Credit unions may choose from a broad array of Alloya products and services, designed to strengthen their operations and appeal to members. Product lines include: item processing, correspondent services, lending investments (via its wholly-owned CUSO, Balance Sheet Solutions, LLC), and business services. The convenience of Alloya's secure, online account management system enables members to access their accounts, perform transactions, and produce reports.
For more information visit www.alloyacorp.org.
EasCorp was formed in 1978 by visionary leaders who understood the value of a company that is owned by credit unions and operated for their exclusive benefit. EasCorp is a corporate credit union that is supervised and examined by the National Credit Union Administration. Together with its subsidiary, Vertifi Software, LLC, EasCorp provides the credit union community a variety of deposit, loan and investment services; ALM modeling and consulting; ACH processing; image cash letter processing, including branch and remote deposit capture for both consumers and businesses; share draft clearing; correspondent services; mobile banking; and statement rendering services. Credit unions favor EasCorp for its superior products and services, while maintaining complete confidence in its financial strength and durability.
With a track record of embracing new technologies, EasCorp ensures that credit unions have access to cutting-edge funds management and e-services at affordable prices. At EasCorp, our mission is to support credit unions in ways that enable consumers to rely upon them for all their financial services needs.
For more information visit www.eascorp.org.
Organized in 1976, Tricorp initially began operations under the purpose of forming a liquidity house for the credit unions in Maine, with the addition in the following year of Vermont and New Hampshire credit unions. Because of demographic changes and the changing role of credit unions, Tricorp has evolved to become not only a provider of liquidity, but a provider of correspondent, technological, and investment products and services. In 2004, Tricorp was granted a national field of membership.
Totally owned and governed by a volunteer Board of Directors, profit is not the driving force; rather Tricorp exists solely for the benefit of our member credit unions, which is a significant difference from other financial institutions. It is examined annually and regulated by the National Credit Union Administration (NCUA).
Since its inception, Tricorp has strived to build a foundation of loyalty, dependability and trust for the credit union members that we serve. It is the aim of Tricorp to provide our members with a full range of personalized, professional products and services at competitive prices while maintaining safety and soundness. Through the ideals of service, speed and success, we are proud to say that we continue to achieve this mission all the while building strong, long-lasting relationships.
As the business world and technology continue to evolve, so too does Tricorp. The interests of Tricorp lie in the financial well being of our member/owners. We aspire to exceed our members' needs and look toward the future of providing them with the high level of value-added service and products that they've come to expect.
Simply put, “Our members' success is our success”.
For more information visit www.tricorp.org.
In 1961, Governor John Volpe signed into law the Share Insurance Bill, creating MSIC. MSIC began as an industry sponsored cooperative insurer, owned by its members. When created, MSIC was the first company in the nation to offer deposit insurance to credit unions. At this time, MSIC was the sole insurer of credit union deposits in Massachusetts.
In 1986, MSIC filed legislation to allow federal credit unions to join the fund. Many of MSIC’s current federal membership became members at this time.
MSIC played a critical role in Massachusetts during the banking crisis of the late eighties and early nineties. It provided several Massachusetts based credit unions with the required capital to obtain federal insurance, allowing them to continue to operate independently rather than being merged or liquidated.
To meet this crisis, MSIC invested six million dollars in its member credit unions. In addition, MSIC provided the needed staff at critical times throughout the crisis. MSIC paid members/depositors of Massachusetts Credit Unions over $49,000,000 and no one in the Commonwealth lost, or was denied access to their savings.
During the banking crisis, Massachusetts credit unions converted to federal insurance, and MSIC converted to being solely an excess deposit insurer. As an excess insurer, MSIC now insures deposits in 86 credit unions across Massachusetts. MSIC currently insures just under a billion dollars of credit union member’s deposits. For information about our current activities, please see our Company Profile.
For more information visit www.msic.org.