John Carew, chief strategy officer of Georgia’s Own Credit Union, recently co-founded a new CUSO called CU Payz, according to a CUInsight article.
CU Payz was founded to enable credit unions to take control of their future by partnering with Payrailz to develop new, innovative technologies and services that will revolutionize the payments experience.
The formation of CU Payz came out of a working relationship with established CUSOs MDC and Constellation Digital Partners. CU Payz includes six founding member credit unions: Coastal Credit Union, Farmers Insurance Federal Credit Union, Georgia’s Own Credit Union, Meritrust Credit Union, Teachers Credit Union and TwinStar Credit Union.
“Credit unions need next-generation products in order to compete with banks, non-traditional offerings and fintechs,” Carew said. “To truly succeed in this environment, credit unions must collaborate on a large scale on strategic technology investments and leverage our collective influence through group buying and/or equity ownership opportunities.”