ONTARIO, Calif. -- CU Direct has become the latest organization to take an ownership stake Members Development Co., the firm announced in a Tuesday news release.

CU Direct provides loan products to 1,100 credit unions nationwide to help them drive more loans and increase membership. MDC, a credit union services organization, provides research and development services focused on credit union growth. With CU Direct added to its ownership roll, MDC now has 45 credit unions with a stake in the company.

"I'm looking forward to combining forces with MDC because we share the philosophy and practice of actively collaborating for the good of the industry – and, ultimately, for the good of hard-working members," Tony Boutelle, CU Direct's president and chief executive, said in the release.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.