CU Service Network Unveils New Name, New Shared Branching Components, New Analytics Service
LAKEWOOD, Colo. –CU Service Network, a CUSO that provides back office services and shared branching, has announced a new name and brand: Aux.
According to the company, Aux is a shortened version of the word auxiliary, and a phonetic play on the word “ox,” which is an icon of strength and stability in financial services. CUSN said it wants its new brand to represent the essence of the CUSO, the core of what it does for credit unions, which is to provide extra assistance and “step in when times are tough.”
Aux said over the past five year it has transformed tremendously as an organization, “becoming the nation’s premier CUSO for credit union outsourcing, and it made sense to create a brand that aligned with the company’s current mission and services.”
The CUSO further noted the original shared branching servicing component of CUSN moved to a new organization, also introduced this month, called InNetwork, in order to provide collaborative and partnering opportunities with other networks. This further exacerbated the need for the organization to rebrand.
‘Working Collaboratively’
“We have worked collaboratively with our partner credit unions over the last several years introducing innovative new products, said Aux President/CEO Doug Burke. “It’s only fitting as part of our transformation our name would change as well.”
The company added the Aux mission is to “promote the long-term growth and vitality of the credit union movement.”
In addition, Aux has also launched a new credit union data analytics product, cuery, that it said rounds out its collaborative shared services suite, which includes compliance, accounting, IT and, now, data analytics. More info can be found at www.auxteam.com.
Shared Branching Branding
In terms of the new shared branching branding, Burke said, “We are excited to introduce InNetwork to the shared branching community and the endless opportunities to introduce a new level of collaboration among the various service providers.”
The company said InNetwork will continue to be an operator of the CO-OP Shared Branching network and provide service/support to regional credit union clients, and will also now offer a variety of support services for other independent networks operating throughout the U.S.
“Many networks do not have a dedicated shared branching team to support their credit union, requiring one person to manage selling, marketing, reports and client support,” the CUSO said. “InNetwork, the first of its kind, is designed to shoulder some or all of that burden and provide relief to those CUSOs struggling as the shared branching support business model changes, as well as provide ownership and profit-sharing opportunities.”