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2021 NACUSO Network Conference Update!

We are excited to announce that our 2021 NACUSO Network Conference is now scheduled to be at the Encore Resort in Las Vegas, November 8-11! The beautiful Encore Resort is open and they have taken extra precautionary measures to make sure it’s safe for guests to enjoy their stay. Please save the dates and check our conference site soon for more details at www.NACUSONetwork.com.

If you were registered to attend, or sponsor at our 2020 conference in Orlando, you do not need to currently contact us to make a decision about your conference registration. We can automatically apply your registration or sponsorship fees to the 2021 NACUSO Network Conference. When registration is officially open, you’ll have the options of transferring your fees to the new 2021 November dates, applying them to the 2022 NACUSO Network Conference or requesting a full refund.  We will be sure to contact you with the next steps and will work with you on the options that work best for your plans.

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NACUSO Network Conference Update

Unfortunately due to the events surrounding the coronavirus, the 2020 NACUSO Network Conference, originally scheduled in April has been canceled. As we all navigate the ever-changing reality of our day to day work and personal lives, our first thought is for the safety and well-being of our members, partners, staff and conference participants. We will be sending information soon with information to all conference participants with updated information and options regarding the next steps. More details as they become available will be on our conference website at https://www.nacusonetwork.com.Read more

2019 Next Big Idea Winner & CUSO of the Year Winners

The 7th annual Next Big Idea winner is Zogo Finance. Bolun Li, Founder of Zogo began his presentation by asking the attendees to raise their hand if they had teenagers, now or in the past. And then he did an amazing job explaining to a room full of parents how his product can both educate and motivate teenagers. A daunting task to be sure. Zogo received 55% of the audience’s votes to claim the victory. Click here for photos and to watch his post-victory interview with Mike Lawson, CUbroadcast.

Click here to see photos and read about who the winners of this year’s CUSO of the Year and New CUSO of the Year Awards were.

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CUSOs in the News

February Credit/Debit Spending Analysis: As Spending Rebounds, Balances Decline

As we approach one year since the onset of COVID-19, credit union member spending appears to have rebounded in all categories other than travel, in-person dining and entertainment. For credit unions, this is a strong signal that now is the time to aggressively promote their credit and debit card offerings in order to capture a greater share of interchange revenue and members’ lifestyle interactions as spending continues to improve.

Here were some of the category-level spending trends we tracked in January across the CO-OP Credit and Debit portfolios (data comparing January 2021 to January 2020):

Online Bookstores (Amazon)
Transaction Volume (#):
Credit: Up 38%. Debit: Up 44%.
Transaction Amount ($):
Credit: Up 43%. Debit: Up 46%.

Restaurants
Transaction Volume (#):
Credit: Down 11%. Debit: Down 12%.
Transaction Amount ($):
Credit: Down 9%. Debit: Down 27%.

Air Travel
Transaction Volume (#):
Credit: Down 59%. Debit: Down 34%.
Transaction Amount ($):
Credit: Down 71%. Debit: Down 79%.

Grocery Stores
Transaction Volume (#):
Credit: Up 7%. Debit: Down 2%.
Transaction Amount ($):
Credit: Up 27%. Debit: Up 8%.

Department Stores
Transaction Volume (#):
Credit: Up 41%. Debit: Up 23%.
Transaction Amount ($):
Credit: Up 35%. Debit: Down 6%.

Hardware Stores
Transaction Volume (#):
Credit: Up 29%. Debit: Up 32%.
Transaction Amount ($):
Credit: Up 44%. Debit: Up 39%.

Wholesale Clubs
Transaction Volume (#):
Credit: Up 14%. Debit: Up 18%.
Transaction Amount ($):
Credit: Up 32%. Debit: Up 42%.

Despite the increase in spending, credit card balances were down 14 percent compared to 2020. This tells us that while spend is normalizing, members are less comfortable carrying high credit balances during periods of economic uncertainty. If they have the ability, they will reduce their revolving debt balances to gain some wiggle room for navigating the emerging crisis. This could present a challenge for credit unions if interchange income earned on credit transaction activity cannot offset losses in net interest income as balances fall. Therefore, the key metric to watch right now is your cards’ utilization rate.

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PSCU Furthers Commitment to Emerging Leaders in the Credit Union Industry

CUSO invests in rising credit union talent through sponsorships, programs and other initiatives

For more than a decade, PSCU – the nation’s premier payments credit union service organization (CUSO) – has been committed to supporting emerging leaders among its employees and throughout the credit union industry. This year, the CUSO has numerous opportunities to further its commitment to emerging leaders through sponsorships, programs and other initiatives, all of which will help emerging leaders be better prepared for their future roles in the industry and, ultimately, advance the credit union movement.

In January 2021, the CUSO announced its new PSCU Scholarship Program, dedicated to furthering credit union professional knowledge by providing opportunities to develop, learn and grow through industry conferences and educational events. As part of this program, PSCU sent four people to CUNA’s National Young Professionals (YP) Virtual Conference on Jan. 13-14. The conference, which PSCU also sponsored, featured numerous sessions and panels, including a PSCU-led breakout session, “Effective Tips for Networking and Mentoring.”… Read more

Thanks to Our Platinum & Gold Partners For The Continued Support! Learn More »

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