Corporate America buys Constitution Corporate CUSO
11/23/2010 04:38 pm
Corporate America Credit Union, based in Birmingham, purchased Constitution Corporate FCU's wholly-owned credit union service organization, known as Smart Source Solutions, based in Wallingford, CT. Smart Source Solutions will be transferred to Corporate America by the end of November. In a statement, the NCUA says the transfer provides for the continuation of services to the CUSO’s customers and additionally provides a
premium to the National Credit Union Share Insurance Fund (NCUSIF). Corporate America’s proposal was chosen after a bidding process that included credit union and non-credit union entities. The NCUA made the decision after determining it offered the best solution for customers of Smart Source Solutions and was in the best interest of the NCUSIF.