Millennium Corporate Credit Union Acquires Item Processing Service
Wichita, KS and Overland Park, KS (July 31, 2022) - The Millennium Corporate Credit Union (Millennium Corporate) and Shared Financial Solutions (SFS) Boards of Directors voted to move forward with the sale of the SFS service, Item Processing, to Millennium Corporate. SFS is a wholly owned subsidiary of Heartland Credit Union Association (HCUA).
In March of 2022, the Millennium Corporate and HCUA Boards of Directors signed a letter of intent for the sale of HCUA/SFS Item Processing service to Millennium Corporate. While the sale closed July 31st, Item Processing operations and staff will remain in their current environments as Millennium Corporate manages the transition of all employees and the service.
“After months of careful consideration and research, the two organizations came to this strategic decision,” said Lisa Simmons, Interim CEO of Heartland Credit Union Association. “It will ensure the future and growth of item processing, while building on existing and long-lasting relationships.”
“For years, we’ve enjoyed a strong and trusted relationship with the HCUA,” said Larry Eisenhauer, president/CEO of Millennium Corporate Credit Union. “We’ve worked together cooperatively to provide item processing and its settlement to credit unions within our shared membership. Assumption of the Item Processing service ensures program users a continued presence in the check processing industry in Kansas and Missouri. Expanding our product offerings to include Item Processing, a critical business component for credit unions, benefits all parties.”
About Heartland Credit Union Association
The Heartland Credit Union Association is the not-for-profit trade association for credit unions in Kansas and Missouri. Through advocacy, compliance, professional development and consumer awareness, we strive to create an environment where credit unions can thrive.
About Millennium Corporate Credit Union
Millennium Corporate Credit Union is a business-to-business wholesale credit union providing financial services to credit unions throughout the Midwest. We've been in the business of serving our credit union members for 70 years and now work with close to 300 credit unions, primarily in Kansas, Missouri, Montana and Nebraska, from three locations, with the home office in Wichita, Kansas.
Questions? Contact Lisa Simmons, 800.392.3074, x1385.