The California Credit Union League and CURoots Cooperative are in discussions to transfer CURoots ownership to the California League Services Corporation. CURoots services—which include shared compliance and specialty internal audit services—will continue uninterrupted.
“This represents a great opportunity for CURoots users and potential users who will benefit from the streamlining of efforts and the cost savings that will be realized,” said Gary Perez,
CURoots board chairman and president and CEO of USC Credit Union.
“The ownership of CURoots would expand from 18 organizations to the 324 credit unions that own the California and Nevada Credit Union Leagues,” added Leagues President and CEO Diana Dykstra.
Under terms of the proposal, all member credit unions will become eligible for CURoots’ preferred member pricing.
The sale and transfer of assets is subject to a membership vote with approval requiring a simple majority. A special CURoots membership meeting is scheduled for Friday, Feb. 15, 2013.