The multinational company, Fexco, is trying to establish a joint venture with a small number of credit unions to provide services to credit unions.
I can understand why Fexco would want to do this, if they can make a profit on the deal, but I can't understand what's in it for the credit unions, especially now that credit unions are getting bigger and can afford to invest in new services themselves. Indeed, there are other credit union owned initiatives already underway.