News

MN CU network acquires transaction processor

September 9, 2013

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MnIPC, a St. Paul, Minn.-based independent processing service for credit unions, has announced the completion of its purchase of ProDraft Services LLC, a North Dakota-based CUSO providing EFT processing solutions.

MnIPC is a wholly-owned subsidiary of the Minnesota Credit Union Network. With the acquisition, ProDraft will operate under the MnIPC name, according to a news release.

The purchase of ProDraft extends the reach of MnIPC into North Dakota, and continues a nationwide expansion effort begun several years ago. The acquisition allows MnIPC to increase volume, pricing power and overall efficiencies, the company said.

MnIPC provides integrated processing solutions that include:

• MICR image capture;
• Check 21 services;
• remote deposit capture;
• mobile deposits; and
• a seven-year online image archive.

In addition, MnIPC offers flexible settlement arrangements, which allows clients to independently choose the banking institution that is right for them.

Read more about transaction processing.