Several local CUs obviously partner for IT. Locally there are special CUs for teachers union members (aka K-12) and a state U CU and many other company based CUs, along with location based CUs like the one I'm in (must have a mailing list in county, or be employed by some industrial conveyor belt company or something like that to qualify). I can use the ATM at the teachers union CU for free, just as they can use "my" CU ATM for free. My former bank wants a mere $3 per transaction at an ATM, I don't miss them very much at all.
IT as a service is not unusual in finance. More than two decades ago I worked at a stock trading outsourcer, based in the USA believe it or not, who for a fee, would do absolutely everything computer related for a small brokerage office from trades to research to even printing payroll checks (so I'm told, maybe it was just calculating commission checks?)
Another example is supposedly the majority of direct stock investment plans are outsourced to one provider (compushare?) That's the deal where if you live at an address that pays an electric company bill, you're auto-qualified to buy shares in the electric company directly without paying commission or going thru a brokerage. I've been in the that ownership plan since I was 12 or 14 or so, which reminds me to sign my kids up soon.
IT as a service is not unusual in finance. More than two decades ago I worked at a stock trading outsourcer, based in the USA believe it or not, who for a fee, would do absolutely everything computer related for a small brokerage office from trades to research to even printing payroll checks (so I'm told, maybe it was just calculating commission checks?)
Another example is supposedly the majority of direct stock investment plans are outsourced to one provider (compushare?) That's the deal where if you live at an address that pays an electric company bill, you're auto-qualified to buy shares in the electric company directly without paying commission or going thru a brokerage. I've been in the that ownership plan since I was 12 or 14 or so, which reminds me to sign my kids up soon.