Shared branching CUSO expands, unveils new name
CU Service Network, a Lakewood, Colo.-based credit union service organization that provides outsourcing and shared branching, has split in two as part of a wider rebranding effort.
The CUSO announced its new brand, Aux, on Tuesday. CU Service Network also launched a new CUSO, InNetwork, which will focus on shared branching services.
Aux will focus on outsourcing and shared services for credit unions, with a mission to promote long-term growth in the industry. The CUSO offers accounting services, compliance services and a data analytics service, cuery, which it launched in June.
InNetwork will assist those in the credit union industry without robust shared-branching teams and aims to alleviate some of the burdens experienced as the shared-branching support business model continues to evolve.
“We have worked collaboratively with our partner credit unions over the last several years introducing innovative new products,” Doug Burke, president and CEO of both Aux and InNetwork, said in a press release. “It’s only fitting as part of our transformation our name would change as well.”
The company said Aux is derived from the word auxiliary, though it also plays on the word ox. Oxen are strong and stable — two traits that the CUSO aims to associate its brand with in financial services.
“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,” Burke added.