CU Certified, a Credit Union Service Organization (CUSO) partner, headquartered in Bedford, NH, announced today the addition of Texas Trust Credit Union to their growing number of credit union clients.
“The concept you provide is a no-brainer to the fee income stream we are looking to provide for our credit union’s success,” said Alvin Meaux, SVP Lending and Collections.
For years credit union members were at the mercy of the car dealer when it came to vehicle service contracts. CU Certified has changed all of that. Instead of the dealer getting all the success we have giving the control to the CU so that they get 100% of the fee income associated with these contracts, the credit unions benefit in a big way. Since CU Certified began, they have returned $2,429,470 to credit unions and their members. And the best part? CU Certified is “fee free” and requires no additional labor than is already required to offer Vehicle Service Contracts.
CU Certified was created by a collaboration between two CUSO’s of Down East Credit Union and the CU Certified team in 2013. “I remember my first meeting with the, then President, of the Credit Union, said Mark Giguere, President & CEO of CU Certified. “The first words out of his mouth were, ‘Who are you and why do I need you?’. We look back and laugh at that meeting with fond memories. Fast forward four years to year end 2017 when CU Certified represented 12 basis points of their net income.”
Last year CU Certified, along with its partnership with Downeast Insurance (CUSO) was recognized as CUSO of the Year by NACUSO. “CU Certified is the first program to offer a best in class vehicle service contract for credit union members while giving back 100% of the underwriting profit to the participating credit union. “We just had to acknowledge this unique CUSO model that is really committed to helping our members by helping our credit unions,” said Jack Antonini, CEO of NACUSO.
The best part about this CUSO collaboration? Their culture. They like to have fun and celebrate the success of their program with their annual “road trip” Check out this video to join in the fun.