Guy Messick spent most of his professional career helping credit unions collaborate. He served as NACUSO’s first General Counsel for over 30 years. He was NACUSO’s Liaison with the NCUA where he advocated for a regulatory climate conducive to credit union collaborations. He is honored as a CUSO Pioneer in America’s Credit Union Museum. To pass on the knowledge acquired over his career, Guy wrote a book entitled “Credit Union Collaborations – Lessons Learned” which is available on Amazon. Guy has taken the main points in the book and made five recorded presentations on credit union collaborations which are available on below. Also included below is a presentation on credit unions working with brokers to offer investment and insurance services. (more…)
News & Highlights
A Dozen Lessons Learned in Credit Union Collaborations By Guy Messick
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
2021 NACUSO Network Conference-Register Now!
We are excited to announce our 2021 NACUSO Network Conference is 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 check our conference website for hotel and registration information at at www.NACUSONetwork.com.
For Orlando 2020 NACUSO Attendees with Paid Fees on File: Good News! If you registered and paid to attend our 2020 conference (and did not officially cancel or request a refund), your registration fees have now been transferred. You can register for the 2021 NACUSO Network Conference and your registration fees will be adjusted accordingly. Click here for registration information and additional instructions. If you have any questions, changes or need to verify your 2020 registration status, please email our team at Connect@nacuso.org or call 888-462-2870.
CUSOs in the News
Lumin Digital Partners with Consumers CU to Launch Digital Account Opening Solution
7/27/21 — Lumin Digital, a PSCU company, announced that it has partnered with Consumers Credit Union (Kalamazoo, Mich.) to create and pilot a new digital account opening product for Lumin Digital customers. This new and optional feature will empower Lumin-affiliated credit unions to quickly process membership qualifications and verify identities, easily fund accounts and much more, all while helping prevent fraud and reduce the number of third-party solutions needed by credit unions to support digital account opening.
Beginning this summer, Consumers Credit Union users will be able to apply for membership, complete their onboarding and transact online in less than five minutes. Founded in 1951, the $1.6 billion credit union is guided by its core mission of making a positive difference in the lives of members through extraordinary service, education and exceptional financial products that make it easy for members to choose how and when they want to bank.
“Our relationship with Lumin Digital is a key part of our long-term digital strategy to amaze and delight members at their point of preference, and the customer journey starts from the moment they first consider applying for membership,” said Lindsay Land, vice president of Operations at Consumers Credit Union.… Read more
Back to Work and Back to School: June Payments Trends Anticipate Return to Normalcy
CO-OP Payments Trends Report (Spending Data from June 1-30)
7/26/21 – Consumer spending continued to heat up in June as the weather turned warmer and the economy continued to open. Merchant categories like dining, entertainment, lodging, camping, home improvement and gas all continuing to grow, while categories like digital goods, computers, and office equipment, furniture and supplies, that had been hot in the first half of 2020, showed decline.
Debit use is still surprisingly high, showing that members’ checking accounts are still flush with cash from stimulus checks received earlier this year. But credit use is increasing in certain sectors, particularly for larger travel and tourism expenses like advance airfare and high-end hotel reservations. With strong job growth numbers and a tight labor market, consumer confidence will increase, and CO-OP Financial Services expects growth in credit usage to continue.
“Companies are paying out substantial hiring bonuses to incent employees to come back to work, and salaries for existing workers are getting bumped up,” says John Patton, CO-OP Senior Payments Advisor.… Read more
