Corporate Network eCom History
U.S. Central background
U.S. Central is the wholesale financial center for the nation’s corporate credit unions. Founded in 1974 U.S. Central is owned and directed by its member corporate credit unions, in the tradition of the cooperative credit union spirit. As the “credit union for corporate credit unions,” U.S. Central exists solely to assist them in serving 8,000+ credit unions across the country.
Corporate Network eCom background
In 1999, eCom was created as a subsidiary of U.S. Central to provide dependable bill payment solutions to corporate credit unions and their member credit unions. eCom, formed as a CUSO, is designed to deliver cost-effective and flexible bill pay solutions that are easy to implement and use. Simply put, eCom is committed to providing the best products at the best price.
In 2000, Open Financial Solutions (OFS), comprised of influential credit unions, partnered with eCom to share in the technology successes of fellow credit unions. Today, using eCom's services, OFS members continue referring credit unions to eCom so they too can adopt payment solutions that help them remain competitive in their markets.
In 2007, eCom partnered with Metavante Corporation as a value-added reseller (VAR) of Metavante’s entire set of electronic presentment and bill payment solutions. The VAR approach allows us to leverage the collective aggregation power of the movement to offer credit unions the best bill payment products at a more competitive price than a credit union could get directly from a processor or a non-industry re-seller.
eCom serves over 170 credit unions of all sizes and processes approximately 1.4 million bills a month totaling more than $415 million. Today, approximately 750,000 bill payment users have adopted a MemberPay® product offering. This confirms our belief that credit unions and their members value our proven security, rely on our ability to seamlessly manage the process, and have confidence that the cooperative spirit of the movement results in greater efficiencies and better buying power for the benefit of all.