League Data acquires Technicost

Co-operative values bring fintechs together 

HALIFAX, NS, Jan. 9, 2024 /CNW/ – League Data Ltd. announced today that they have acquired Technicost from Co-operators Financial Services Ltd. effective January 1, 2024. Technicost is a technology company that provides credit management solutions, including Loan Origination Systems (LOS) to credit unions.

The combined capabilities of both organizations will help streamline and enhance technological services offered to credit union clients.

“Our shared co-operative values make this venture a natural fit for our organizations,” said Carrie Forbes, CEO, League Data. “The acquisition will allow Technicost continued growth with their product offering as well as providing an opportunity for both companies to scale technology, resources and credit union collaboration.”

Since 1982, Technicost has been providing Canadian Credit Unions with LOS solutions, delivering dynamic, unmatched credit software solutions to 40+ financial institutions across Canada. Technicost has been part of Co-operators Group of Companies since 2019.

“We’ve worked hard to successfully build Technicost and are proud of our achievements in the creditor space,” said Brad George, President, Technicost. “In partnership with League Data, we look forward to further streamlining and enhancing the technology services offered to Canadian credit unions.”

Technicost will operate as an independent entity as part of League Data. The current management team and staff will remain in place and it will be business as usual for clients and partners. 

As Chief Information Officer (CIO) for the Atlantic Credit Union System, League Data Ltd. provides technology leadership in the area of banking solutions, aligned with regional and national credit union system initiatives that support member growth and system efficiencies. League Data provides over 50 seamless, fully integrated technology solutions from key vendors to deliver a member-first experience while meeting the evolving banking needs of both credit unions and their members. www.leaguedata.ca 

For 40+ years, Technicost has been a Canadian pioneer for credit management software, offering unmatched service, unprecedented support, and innovative software solutions. Today Technicost provides credit software to more than 40 Canadian financial institutions and cooperatives across Canada – including the core TechLOS loan origination system (LOS) solutions – in use at credit unions across the country. www.technicost.com 

Co-operators is a leading Canadian financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. The company has more than $58 billion in assets under administration. Co-operators has been providing trusted guidance to Canadians for the past 78 years. The organization is well known for its community involvement and its commitment to sustainability. Achieving carbon neutral equivalency in 2020, the organization is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co-operators is also ranked as a Corporate Knights’ Best 50 Corporate Citizen in Canada. www.cooperators.ca.

SOURCE League Data Ltd.