History

CU*Answers is a CUSO and a Cooperative.
We’ve been living the cooperative spirit for years.

In short, we make credit unions go.

CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2 million members and $21.5 billion in credit union assets

2018

MACO

Major shift to APIs kicks off with new Direct Login Widgets to access online banking.  Internet Retailer Support Center adds Multiple Authentication Convenience Options (MACO) for new sign in methods on mobile apps.  CU*BASE CTE reaches 11 clients.  New graphing tools added to CU*BASECU*Answers sales team signs first Hawaii-based credit union.  IRSC adds card status control to mobile apps.  Secure forms and Request Center introduced by IRSC and Web Services.  Year long Imaging Solutions contests kick off – $23,000 in prize money.  Imaging Solutions creates virtual closing rooms in It’s Me 247 Online Banking.  COO Geoff Johnson promoted to President/COO. New event introduced: 2018 CEO Strategic Developers Boot Camp.

2017

Developer's Help Desk

CU*Answers Store launches in March of 2017, spearheading an effort to bring all of CU*Answers products into a single online shopping experience. Asterisk Intelligence team renames My CU Today  to Analytics Booth. CU*Answers celebrates its 10th Annual Video Contest. CU*BASE receives a new navigation system. AuditLink launches Vendor Management business. CU*Answers clients – Frankenmuth Credit Union, Safe Harbor Credit Union, Alpena Alcona Area Credit Union, and Washtenaw Federal Credit Union – honored by Michigan Credit Union League. Developer’s Help Desk launches! CIO Jody Karnes retires after 23 years at CUSO; Brian Maurer and David Wordhouse promoted to Executive Vice Presidents.  Year 3 of Executive Study Boot Camps.

2016

CU*Answers reached a new milestone with revenue surpassing $50 million for the first time in the CUSO’s history, and returned a record $4.09 million in patronage and ownership dividends to credit unions. The Internet Retailer Support Center is introduced as a new support desk for credit union virtual channel project managers offering a digital store environment for products including the new Mobile App 2.0 with RDC, free hybrid mobile apps, the completely redesigned member application process, the mobile experience center, and more.

2015

CU*Answers sets a record for new members processed in CU*BASE with over 160,000 added through conversions and mergers. 11 credit unions join its network of credit unions. CU*Answers invests in Imaging Solutions team, taking over the sales and support process for e-document strategies. CU*Answers and its cuasterisk.com network partners design a new sales culture and foundation, presenting a significant opportunity for expanding the suite of services, and welcome partner Chatter Yak! into the fold. Working with Payveris for transaction processing, CU*Answers designs its first native user interface within It’s Me 247 online banking for bill pay.

2014

CU*Answers exceeded $40 million in direct revenue. A huge year for FEP (File Expansion Project) development & implementation, representing over 40K programming hours. Reached the 125 owner milestone. Introduced Walking In The Members’ Shoes experience including a new series of videos, website and more. My CU Today introduced and released to board member credit unions.

2013

New look for It’s Me 247 Online Banking and online applications. Work continues on File Expansion Project and new design for CU*BASE GOLD. CU*Answers uses e-Voting for Board Elections

2012

Began new expansion and construction projects. Converted 8 Credit Unions to CU*BASE, with a record 3 new Start-Up CUs, and 7 Mergers. Network expands to 165 credit union clients with 107 credit union owners. Paid a Patronage Dividend of $1.7 million to our credit union owners. 168 CU*Answers employees and 38 Xtend employees plus 14 contractors. Awarded $15,500 in 2nd year ofInnovator Investment & Grant Program. Introduced Grand Opening Kits. Launched the Live It! Series focusing on the 7 Cooperative PrinciplesBoard Financial Literacy Series website launched. Opened the Muskegon Data Center. Network Compliance Teacher newsletter publishedXtend celebrates its 10th birthdayAdvantage CEO Virtual CIO Service launched. It’s Me 247 Online Banking gets nearly 36 million visits in 2012.

2011

Celebrated the International Year of Cooperatives; Converted 14 credit unions to CU*BASE plus several new mergers into existing CU*BASE clients; Reached a new record of 102 credit union Owners; Introduced Mobile Web and Text banking; CU*Answers paid a Patronage Dividend of $1.4 million to our credit union owners; Awarded $10,000 in First Innovators Investment and Grant Program; Introduced the Spirit of CU*Answers” award – VacationLand FCU winner; Online Balloting System available using It’s Me 247 Online Banking; Introduced Cooperative Score; WESCO Net renames to CU*Answers Network Services.

2010

Celebrated our 40th birthday. CU*Answers converts 11 new CU*BASE CU’s; processing for 1.3 million members. Issues record dividend/ interest return to 80+ CU Owners exceeding $1.4 million.

2009

CU*Answers has record year, adding 140,000+ new CU*BASE members; CU*Answers issues record patronage dividend to owners of $700,000; CU*Answers and network partners write and distribute 300+ press releases.

2008

CU*Answers annual revenues exceed $29 million; 14 CU*BASE conversions representing 102,000 members; CU*BASE processing for 130 credit unions representing 1.1 million members; awarded NACUSO’s CUSO of the Year Award – 1st multiple time winner.

2007

Reed Data, Inc. becomes eDOC InnovationsIt’s Me 247 online banking introduced.

2006

CU*Answers partners with Gulf Data Systems (Mobile, AL) for marketing CU*BASE
CU*Answers announces intentions to become majority stock owner of Reed Data, Inc.
CU*Answers announces Check 21 CUSO formation strategy with Corporate One
CU*Answers University Education exceeds 1,800 face-to-face interactions
PIB (Personal Internet Branch) layered security feature introduced for online banking.

2005

CU*Answers expands to its newest 28th Street facility; CU*Answers converts its 100th CU*BASE client representing 13 states; CU*Answers has record year for CU*BASE members converted (100K+); Collaborative Marketing piece delivery exceeds 800K.

2004

CU*Answers implements High Availability strategy for Disaster Recovery; CU*Answers annual revenues exceed $15 million; 698,500 CU*BASE members processed daily; CU*BASE Processing Agreement signed with Franklin & Associates (now CU*NorthWest CUSO).

2003

WESCO changes its name to CU*Answers, reflecting more their place in the credit union industry.

2002

CU*Answers announced formation of Xtend Financial Services CUSOWESCO Net (now Network Services) founded to handle technical needs of clients; partnership with CoWWW results in introduction of CU*SPY online archival of statements and reports.

2001

CU*EasyPay! online bill payment introduced.

2000

WESCO recognized as “2000 Operational CUSO Of The Year” by NACUSO; introduced CU*BASE GOLD and a new TCP/IP network; web development services introduced

1999

CU*@HOME PC Home Banking introduced

1996

Self-processing (in-house) services introduced; first client converted outside of Michigan

1995

Moved to Kentwood location; 26 owners; 41 data processing clients, 83 check processing and 82 Fed deposit clients; assets $2,414,191

1994

Converted from NCR to AS/400 platform; Randy Karnes hired as President/CEO

1991

Opened Saginaw Item Processing branch

1990

36 data processing clients, 44 check processing and 12 Fed deposit clients; assets $853,000; Board reorganized to 7 members comprised of CEOs of data processing clients; relocated to Eagle Park Drive location

1985

42 on-line data processing clients, 16 check processing and 8 Fed deposit clients; assets $543,000; gross processing revenues $693,000. Reorganized as a stock cooperative with 19 original owners

1984

Introduced check processing services: 5 checks processed per day

1982

Introduced Fed deposit services

1980

First ATM connection tested

1979

22 clients; total revenue of $27,000; 8 staff members

1978

66,000 members processed

1976

42,000 members processed

1973

3 clients with 21,000 members processed

1970

West Michigan Computer Co-Op, Inc. (WESCO) organized as a non-stock cooperative to provide low-cost data processing service for credit unions. Stats: 9 board members; 1 client with 7,500 members processed on the NCR platform; approximately 5 staff members.

Updated
September 23, 2014

Don’t Forget: We’re Accepting Nominations for Associate Board Members!

Don’t Forget: We’re Accepting Nominations for Associate Board Members!

The lifeblood of any cooperative is the active owner.  Cooperatives rely on owners who are active not just as consumers of the cooperative’s products and services, but also with a passion for ensuring the cooperative is the type of organization they want to own. We are seeking nominees to serve on four new committees!  These… Read more »

Oct 17, 2018

Now Available: 2018 SSAE-18 Reports

Now Available: 2018 SSAE-18 Reports

CU*Answers has completed and published its SSAE 18 SOC 1 reports as part of our good housekeeping and continuous improvement process.  This is CU*Answers’ first audit period under the new “SSAE-18” standard.  Some of the reporting enhancements in the new SSAE-18 standard include: More stringent controls on vendor management Additional controls regarding “subservice organizations” Increased… Read more »

Jul 5, 2018

Time to Vote in the 2018 Elections!

Time to Vote in the 2018 Elections!

ATTENTION CU*ANSWERS STOCKHOLDERS Make sure your voice is heard! Vote Electronically for board elections May 1 – June 22, 2018!  Visit the CU*Answers Elections website elections.cuanswers.com. Ready to vote? Visit https://cuanswers.simplyvoting.com/ and follow the instructions in your email. Watch your email today for your voting instructions (if necessary, you can change your vote during the Annual… Read more »

May 1, 2018

Don’t Forget: Vote in the 2017 Elections!

Don’t Forget: Vote in the 2017 Elections!

ATTENTION CU*ANSWERS STOCKHOLDERS Make sure your voice is heard! Vote Electronically for board elections, now through June 16, 2017!  Visit the CU*Answers Elections website elections.cuanswers.com. Ready to vote? Visit https://cuanswers.simplyvoting.com/ and follow the instructions in your email. Watch your email today for your voting instructions (if necessary, you can change your vote during the Annual Stockholders… Read more »

Jun 2, 2017

Time to Vote in the 2017 Elections!

Time to Vote in the 2017 Elections!

ATTENTION CU*ANSWERS STOCKHOLDERS Make sure your voice is heard! Vote Electronically for board elections May 1 – June 16, 2017!  Visit the CU*Answers Elections website elections.cuanswers.com. Ready to vote? Visit https://cuanswers.simplyvoting.com/ and follow the instructions in your email. Watch your email today for your voting instructions (if necessary, you can change your vote during the Annual… Read more »

May 1, 2017

The 2016 SSAE-16 Results Are Now Available

ATTENTION ONLINE AND SELF-PROCESSING CREDIT UNIONS The CU*Answers Board of Directors recently accepted the 2016 “Report on a Description of a Service Organization’s System and the Suitability of the Design and Operating Effectiveness of Controls Related to the CU*BASE Development” (SSAE-16 SOC 1 Type 2). Review the 2016 SSAE-16 Report and other Key Audit Results… Read more »

Nov 14, 2016

CU*Answers 2017 Strategic Technology Plan – Now Available for Viewing!

CU*Answers 2017 Strategic Technology Plan – Now Available for Viewing!

Our 2017 Strategic Technology Plan is now available for viewing! Learn about our latest updates to CU*BASE as well as additional technologies and resources we are looking to focus on over the course of the coming year. 2017 Strategic Technology Plan You can also refer to our 2017 Business Plan, for information regarding our vision… Read more »

Oct 26, 2016

Why wait? Vote today!

Why wait? Vote today!

ATTENTION CU*ANSWERS STOCKHOLDERS WHO HAVE YET TO VOTE Make sure your voice is heard! Our records indicate that you have not yet voted in the 2016 Elections. You can vote electronically for board elections until June 10, 2016! Learn about what your voting for by visiting the CU*Answers Elections website elections.cuanswers.com. Ready to vote? All CEOs… Read more »

May 31, 2016

Have you cast your vote in the 2016 Elections?

Have you cast your vote in the 2016 Elections?

ATTENTION CU*ANSWERS STOCKHOLDERS Make sure your voice is heard! Vote Electronically for board elections May 2 – June 10, 2016! Learn about what your voting for by visiting the CU*Answers Elections website elections.cuanswers.com. Ready to vote? All CEOs of stockholder credit unions received an email on Monday, May 2nd with instructions to vote by visiting… Read more »

May 13, 2016