Montreal-based Loans Origination Systems (LOS) vendor joins The Co-operators group of companies
GUELPH, ON, Jan. 8, 2019 /CNW/ - The Co-operators announced today that they have acquired Technicost, a technology company that provides credit management solutions, including Loan Origination Systems (LOS) to Credit Unions, effective December 31, 2018.
"This was a natural fit for us as our organizations share values with respect to serving credit unions in Canada," said Rob Wesseling, president and CEO, The Co-operators. "We can now deliver a broader suite of options and capabilities in the creditor space and will continue to support our credit union partners' choice of LOS."
Technicost has been providing credit software solutions to Canadian credit unions for over 35 years and is a financially strong organization with room for growth.
"We've worked hard to successfully build Technicost and are proud of our achievements in the creditor space," said Dominic Paquette, CEO of Technicost. "We are in a position to continue to grow our product offering and become a market leader with the support of a strong organization like The Co-operators."
Technicost's current management team and staff will remain in place and it will be business as usual for clients. Technicost will operate as an independent entity as part of The Co-operators group of companies.
About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $42.5 billion in assets under administration. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights' Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca
SOURCE The Co-operators
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