OUR CUSO FAMILY

COOPERATIVE PAYROLL SOLUTIONS OWNERS

Co-operative Payroll Solutions’ investor business partners include Allegacy Services, LLC, MaPS Credit Union, Member Gateways, LLC, the North Carolina Credit Union League, The Members Group, LLC, Waterloo Financial Services, LLC, and CU Holding Company, LLC.

Co-operative Payroll Solutions is a multi-credit union owned CUSO and a subsidiary of Allegacy Federal Credit Union’s wholly-owned CUSO Allegacy Services, LLC, headquartered in Winston-Salem, North Carolina. Co-operative Payroll Solutions began payroll processing for Allegacy Federal Credit Union in April 2006. Those services were then extended to other credit unions and Allegacy FCU’s commercial membership. Allegacy Federal Credit Union is one of the 100 largest credit unions in the nation, with members throughout the world. They offer virtually all consumer financial services. Allegacy was founded in 1967 in Winston-Salem, North Carolina to serve the employees of R. J. Reynolds Tobacco Company, but now serves the employees, retirees, and families of over 550 companies throughout the country. Among their current sponsor companies are the two largest medical organizations in the southeast, three nationally prominent law firms, a number of large, well-respected advertising agencies in both New York City and North Carolina, as well as many technology businesses. Although Allegacy has many sponsor companies who offer credit union services to their employees and retirees, Allegacy is not owned by any sponsor company, but is a not-for-profit financial cooperative owned by its members.

MaPS Credit Union headquartered in Salem, Oregon, has come a long way since a group of 17 volunteers joined together in 1935, running the credit union out of kitchens and living rooms in homes throughout Marion County. Today, MaPS serves nearly 38,000 members in Marion, Polk, Yamhill, Linn, Benton, Clackamas, Washington and Multnomah counties. The credit union has nine branches located in east, west, south and central Salem; Keizer; the Willamette University campus; Monmouth; Woodburn; and Silverton.

Member Gateways, LLC is a national credit union service organization owned by 22 progressive credit unions and 1 non-credit union partner. Member Gateways provides the opportunity and means for all credit unions to offer the products and services typically afforded only to mega-sized financial services institutions. Their core focus is to collaborate as strategic networked partners acting in the capacity of a new product incubator. Through their combined solutions, partnerships, intellectual properties, strategic CUSO investments and financial service partnerships, Member Gateways expects to transform and revolutionize the credit union industry. Member Gateways has offices in South Bend, Indiana and Sammamish, Washington.

The North Carolina Credit Union League is the state’s credit union advocate for legislative/regulatory affairs, public relations and image building and networking for cooperative efforts. Dues support legislative/regulatory advocacy, technology needed for communications/access, networking, compliance assistance, industry specific education and internal/external public relations and communication activities. In addition to dues, contributions are necessary to fund specific education/advocacy campaigns. Ninety-five percent of North Carolina credit unions are dues-paying members. A majority of members utilize products/services operated or facilitated by the League’s wholly-owned subsidiary, Credit Union Service Corporation (CUSC). When credit unions leverage their cooperative buying power through CUSC, the result is high-quality, low-cost services for credit union members.

Des Moines, Iowa based The Members Group, LLC (TMG) is a wholly-owned subsidiary of the Affiliates Management Company, which is owned by Iowa credit unions and their members. As a financial and credit union service organization (CUSO), TMG is dedicated to providing innovative and flexible card processing and payment solutions to credit unions and financial institutions across North America. TMG’s core products include credit, debit, ATM and a variety of prepaid solutions, as well as online reporting, item processing, automated clearinghouse (ACH) and assest/liability management (ALM) and printing services. TMG’s prepaid card products are branded ATIRA.

Waterloo Community Financial Services, a CUSO holding company owned by Veridian Credit Union, Waterloo, Iowa, is an owner of a personal lines insurance agency (Members Insurance, LLC), and is also an investor of Co-operative Payroll Solutions, LLC, Winston-Salem, North Carolina. In addition, Waterloo Community Financial Services offers Group Travel Services to Veridian Credit Union members, through a partnership with TCU Travel. Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a not-for-profit financial cooperative owned by its members. The credit union offers a full range of consumer financial services and employs more than 500 Iowans throughout 25 branches. For more information, visit www.veridiancu.org.

CU Holding Company focuses on collaboration and innovation through strategic networked partnerships providing innovative results for the success of the credit union industry. Established in 2003, CU Holding Company, LLC consistently supports the cooperative business model through ownership interests in a family of four cutting-edge CUSOs with national scope. Located in Lenexa, Kansas, CU Holding Company is a wholly-owned subsidiary of Mazuma Credit Union headquartered in Kansas City, Missouri. Mazuma Credit Union serves more than 53,000 Members and has more than $420 million in assets. Mazuma is open to membership for those living or working in Jackson, Clay and Cass Counties in Missouri. For more information about the Credit Union that's "All About You", visit Mazuma's Web site at www.mazuma.org.