GRAND RAPIDS, Mich.–CU*Answers reported it has surpassed 100,000 Multiple Authentication Convenience Options (MACO) users, ending the 2018 calendar year.
In addition, it said it has launched a multi-year business development initiative, while also welcoming a new owner CU.
MACO, first launched in February 2018, is an add on feature to the CU*Answers mobile app that offers biometric authentication through voice recognition, PIN entry, fingerprint verification, and facial recognition, the CUSO said.
“It has been a great success,” said Kristian Daniel, account executive on the CU*Answers Internet Retailer Support Center. “We’ve exceeded our estimates for the first year of the service, with over 100 credit unions signing up and 100,000 members. I am looking forward to launching further credit unions in 2019 and continuing to watch the popular service’s growth.”
Separately, CU*Answers said it has launched a multi-year business development initiative designed to drive awareness of its products, services and business model in more credit union communities across the country.
Scott Collins, EVP of national sales and marketplace development for CU*Answers, will be leading this effort.
“One of the fundamental tenets of our cooperative has been to work on and invest in the agendas of credit unions, and that investment has helped our core community grow to nearly 300 credit unions in 40 states,” said Collins. “We still have a tremendous opportunity to participate in even more communities across the country by seeking credit unions that are looking for a game-changing partner – one that puts credit union ownership, cooperative principles, disruptive pricing, access to markets and shared execution at the top of their business plans.
“To that end, we are taking our presence in the western and southeastern U.S. to the next level along with our allies at CU*NorthWest and CU*SOUTH,” Collins continued. “Our first new marketplace commitment will be to the western time zones all the way to Hawaii through direct sales efforts and an expanded partnership with Mark Mazanko and the CU*NorthWest sales team. Although it will take a lot of work, I am confident about the results and what it will mean to our collective future.”
Randy Karnes, CEO of CU*Answers added, “Investing in new markets will be a prominent component of our 2019 and 2020 Business Plans. While Scott and Mark will handle the X’s and O’s of the sales effort, what I am most excited about is working very hard and making the necessary investment to become an active part of the wonderful credit union community west of the Rockies for decades to come.”
New Owner CU
In addition CU*Answers said San Angelo, Texas-based 1st Community Federal Credit Union has became its 136th equal owner. By securing an ownership block of shares, 1st Community FCU became the 11th credit union to become an owner during the 2018 calendar year and the second Texas-based credit union investor in the cooperative, the company said.
“We are thrilled to welcome (1CFCU CEO) Bill as the newest owner of our cooperative,” said Collins. “In just a few months on board as a user of our core CU*BASEtoolset, Bill and his team have not only been staunch supporters of our cooperative, they have also been active participants with their peers in our network. By coming on board on December 31st, they provided a great kickoff to New Year’s Eve and helped put an exclamation point on 2018 for our CUSO.”