|CUsource President/CEO Shirley Bailey and MDT's CEO Larry Nichols.|
[Warren, MI – October 30, 2013] This week, Member Driven Technologies (MDT), a Michigan-based Credit Union Service Organization (CUSO) that provides information technology services and solutions to credit unions, announced the acquisition of CUsource, LLC. Under the agreement, MDT has secured the following divisions of CUsource: Data Processing Services, Draft Services, Print Mail Services, and Security Services.
“Our collection of considerable strengths – along with both companies’ solid track record for delivering high quality service to our clients – will serve us well as we move forward into the future,” said Larry Nichols, MDT President / CEO. “The combined Michigan/Montana team possesses an impressive blend of credit union knowledge and technical expertise. This level of experience is a key factor in knowing our clients and their business, anticipating their demands and providing seamless solutions to their IT needs.
“We stand for putting our clients first by providing excellent client care and service, and we also successfully collaborate with our vendor partners to offer solutions that help our credit union clients flourish,” Nichols added. “MDT is a terrific company with a terrific future and it is now even stronger with the Montana addition to our organization.”
CUsource will now be known as: MDT – Western Operations. Shirley Bailey, CUsource CEO/President will become Senior Vice President & General Manager, Western Operations.
MDT is the largest CUSO serving Symitar’s Episys community and their partnership with Symitar is key to their success. Symitar is the leading provider of core processing solutions for credit unions of all sizes. They now support more than 650 credit unions (including six corporate credit unions) and approximately 40 percent of the credit unions with assets exceeding $1 billion with enterprise-wide automation.
MDT has enjoyed 10 years of growth - expanding from five employees and servicing seven credit union clients in Michigan to now employing over 125 people with 88 credit unions under contract in 31 states. Combining MDT and CUsource will now give MDT a total of five facilities – the two Montana locations and the three office locations in Michigan, which includes a recently opened, state-of-the-art data center.
Member Driven Technologies (MDT), a Michigan-based credit union-owned service organization (CUSO), was started by a group of Michigan credit unions in early 2003. Since that time, MDT has provided cost-effective, innovative IT solutions to credit unions throughout the United States. With the acquisition of CUsource, MDT has five offices in the U.S. – three in Michigan and two in Montana. MDT has 88 client credit unions in 31 states and serves 1.75 million members, exceeding $17 billion in total assets. For more information, visit: www.mdtmi.com.