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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/12/13 -- CUTASC today announced it has acquired privately held Solutions Only Financial Technologies Inc (SOFT), a leader in credit union business process software solutions. Headquartered in Vancouver, B.C., SOFT offers credit unions tailor made, easy-to-deploy intuitive software solutions designed to transform customer acquisition, lending and internet banking business processes.

SOFT's Harmony and Liberty software products offer CUTASC the opportunity to augment its core banking system offering as well as other systems in use by many credit unions and community financial institutions in Canada and the US. Combined; SOFT and CUTASC products and services will provide new and existing customers with significantly enhanced choice, functionality, and value.

"As the credit union and community banking industries continue to face increasing operational and budgetary pressures, CUTASC, a credit union owned technology solutions provider, known for its value-driven business model and cost effective IT solutions, is increasingly sought out to solve an ever-widening range of challenges," said Brad Best, CEO of CUTASC. "Acquiring SOFT complements and expands CUTASC's strategy to offer more financially centric, affordable and effective IT solutions to help our customers to realize new revenue opportunities."

"CUTASC and SOFT have worked together for many years; often sharing resources and knowledge to bring the best solutions we can for customers we both serve. CUTASC also shares our vision and passion for the development and delivery of Harmony and Liberty software products of which I am confident will thrive under CUTASC's leadership and continue to represent exceptional value for credit unions," said Clyde Monk, CEO of SOFT.

About CUTASC

Formed in 2002, CU Technical & Administrative Services Corp., (CUTASC) is a wholly owned subsidiary of Northern Savings Credit Union, is a Vancouver B.C. based, professional IT services, business working with the Canadian credit union and community financial sectors. CUTASC focuses on two things: exceptional people, and exceeding customer expectations. For more information: www.cutasc.com

About Solutions Only Financial Technologies Inc.

Solutions Only Financial Technologies Inc. (SOFT), are leaders in customized software products that maximize productivity, accuracy, and revenue opportunity. Since 2004, SOFT's Harmony brand of software products have rejuvenated business processes, and transformed the point of sale experience, for North American credit unions, banks, and insurance companies. For more information: www.solutionsonly.com