Banking

Maryland credit union service organization acquires Wisconsin CUSO

The Cockeysville, Maryland-based credit union service organization Think Stack has purchased the Milwaukee-based CUSO Emergifi.

Think Stack’s acquisition of Emergifi, which was founded in 2017 by the $3.6 billion-asset Corporate Central Credit Union in Muskego, Wisconsin, took effect on April 30. Gregg Tushaus, who was recently president of Emergifi and is currently chief technology and strategy officer of the credit union, will join Think Stack’s board of directors.

“Culture and service to our members is a core value of Emergifi, which is in alignment with Think Stack’s mantra [of] ‘People Before Tech’ … this merger with Think Stack gives us the opportunity to provide our members with tech solutions on a larger scale to improve the digital experience and fuel innovation for our members,” Chris Felton, president and chief executive of Corporate Central, said in a press release Monday.

As part of its purchase of Emergifi, Think Stack was granted equity and a seat on Corporate Central’s board of directors, according to the terms of the agreement. Employees of the acquired CUSO transitioned to positions within the managed services firm.

“This acquisition will allow Think Stack to serve a larger portion of the credit union marketplace and will make us a well-rounded technology services CUSO able to serve small and large credit unions alike,” Chris Sachse, CEO of Think Stack, said in the release.



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