In my thirty years of forming credit union collaborations, I have come to see common lessons, especially in multiply owned CUSOs providing one or more back office operational services. I examine twelve of those lessons in these types of CUSOs. (more…)
Save the date for NACUSO’s 2020 NACUSO Network Conference! Details will be available soon on our conference website at https://www.nacusonetwork.com to book hotel and for more information.
In the toughest competition to date, CU RateReset CEO Keith Kelly once again knocks it out of the park with his 7 minute presentation at the Next Big Idea Competition last week at the NACUSO Network Conference at the Disneyland Hotel.
Two years ago Keith won the competition with CU RateReset. This year he entered with Knocknock, a disruptive digital solution that provides bilateral interaction between the credit union and the member to deliver “just in time offers” based on real time triggers.
“Where Will We CU in 10 Years?” was the primary theme this week as credit union CEOs, senior managers, board members, and CUSO partners met at the Perdido Beach Resort in Orange Beach, Alabama, for the 2019 CU*SOUTH Visionary Conference and Annual Meeting.
“Our industry is challenged to keep up with a culture of immediate technical advances, but what stays constant is our community,” says CU*SOUTH CEO Leo Vaulin. “That community is defined by the millions of members served by these credit unions in our CUSO network. In the next decade, we see opportunity for credit unions as a sort of economic town square, where service, collaboration, and entrepreneurship cross paths for the betterment of both individual and shared financial health.”
The conference focused on 10 key initiatives, particularly highlighting community investment, the development of shared member space to foster entrepreneurial growth, and creating member-facing teams to engage and support members in credit union initiatives for member opportunities in business, as well as affordable housing models.
During a presentation at its annual CFO Focus Group meeting on April 11th, CU*Answers, the Grand Rapids, Michigan-based cooperative CUSO, celebrated the positive impact of a pricing rollback for its customers and owners at the beginning of 2019. The presentation, which was co-facilitated by CEO Randy Karnes and CFO Bob Frizzle, highlighted the fact that the CUSO had reduced the cost of its CU*BASE core data processing suite for over half of its credit unions clients at the beginning of the year.
Scott Collins, EVP of National Sales and Marketplace Relationships for the CUSO noted: “It was great that Randy and Bob reminded the clients in attendance that we reduced the core DP costs for 93 credit unions at the beginning of the year as an investment in their business plan. It was the second time in the past decade that we were able to do a pricing rollback, and it set the tone for an exciting brainstorming session with CFOs from across the country of varying membership sizes.”