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…)
Events
2020 NACUSO Network Conference
Register now and book rooms for the 2020 NACUSO Network Conference to be held at the Disney Yacht & Beach Club in Lake Buena Vista, Florida. Rooms are available for $245 per night until March 27th! More details are available 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.
CUSOs in the News
CO-OP PROPRIETARY DATA SHOWS CREDIT/DEBIT HOLIDAY SPEND UP IN DIGITAL ENVIRONMENTS
Clothing Spend Decreased While Interior Furnishings Increased, Among Other Findings
Credit and debit cardholders appear to be spending more on their holiday shopping this year as compared to last, according to CO-OP Financial Services’ analysis of card transaction data from Thanksgiving Day through Cyber Monday. Among the key takeaways, CO-OP’s data indicates credit union cardholders shop more – and spend more – when they do so in a digital environment.
The average amount of money spent per cardholder was up this year, and in some cases, significantly. Credit cardholders spent an average of $323 over the five-day period, up more than 10 percent (+10.6%) over last year’s average of $292. For their part, debit cardholders spent an average of $264 from Thanksgiving Day through Cyber Monday. That’s an increase of nearly 17 percent (+16.8%) over the same period in 2018. CO-OP’s data shows analyst predictions for 2019 holiday shopping increases as high as 19.7 percent were fairly on target.
PSCU’s Lumin Digital Successfully Converts Mutual Security Credit Union to Digital Banking Platform
Lumin Digital, a PSCU company, announced today it has successfully converted and onboarded Mutual Security Credit Union (Shelton, Conn.) to Lumin Digital’s cloud-based platform. More than 10,000 active Mutual Security digital users are now utilizing the Lumin platform, which launched in late September.
With over $315 million in assets, Mutual Security Credit Union selected Lumin Digital as its digital banking solution due to Lumin Digital’s capability to provide a user experience surpassing that of big banks and other financial institutions.
“After conducting extensive research, we chose Lumin Digital because we believe it is the top online banking system on the market,” said Larry Holderman, CEO of Mutual Security Credit Union. “Our team worked in close coordination with the Lumin Digital team to execute a well-orchestrated conversion for our members. We look forward to continued success with Lumin Digital as our trusted digital banking partner.”
