The National Association of Credit Union Service Organizations (NACUSO) was formed in 1984 to help credit unions explore the use of CUSOs and the delivery of non-traditional products and services. Over the years, NACUSO’s focus has evolved to helping credit unions form multi-owned CUSOs and participate in collaboration and the cooperative business model.
NACUSO’S core purpose: To be the catalyst for instituting collaboration, innovation, and the reinvention of the Credit Union industry
Our highly competitive marketplace and the industry’s changing regulatory environment require our businesses to work faster and smarter. Therefore, the synergy between Credit Unions and CUSOs has never been more important. The treasury of knowledge offered by NACUSO and shared among its membership is more relevant than it has ever been in NACUSO’s twenty-two year history.
Members of NACUSO believe that innovation coupled with collaboration are the means by which credit unions can transform themselves and achieve a new level of success, and combine the best elements and advantages of free-market theory with traditional credit union philosophy.
Credit unions now face a finite set of choices. They must grow to survive. Growth brings efficiencies and resources that enable credit unions to successfully compete in the financial services marketplace. Without greater efficiencies and a full array of competitive financial services, the credit union industry’s place in the nation’s financial marketplace risks becoming marginalized. NACUSO believes the use of collaboration and innovation provides the best hope for strengthening credit unions and ensuring the survival of the credit union industry.
Credit unions have an alternative to mergers and conversions – Collaboration. By acting collaboratively, a credit union can acquire scale and market power far exceeding its individual size. Credit unions both large and small benefit from collaboration. To that end, NACUSO has now established The NACUSO Marketplace, a Web-based networking tool that allows CUSOs to communicate service and investment opportunities for credit unions to browse and access online. Once the connection is made, both parties can explore their collaborative options. The development of the new NACUSO Marketplace Web program creates the clearinghouse for information and knowledge about all CUSOs defined within the National Center for Collaboration and Innovation mission, and serves as the industry’s unique and comprehensive resource to credit unions and CUSOs searching for the right partner, products, and services.
NACUSO currently utilizes advisory boards to ensure the organization responds to the financial services, operational services, business services, mortgage services and consumer lending segments of the industry.
Expanded Conference & Collaborative Opportunities:
NACUSO holds first class educational conferences each year and conducts regional workshops or webinars on emerging issues as required. We also provide comprehensive coverage of events online and maintain a complete text and graphic (html) archive of past conference coverage. NACUSO members receive discounted registration fees. In addition, plans call for NACUSO to share best practices, case studies and practical application solutions on a much timelier basis. That timeliness will be achieved through regular, online Webinars (free to members). NACUSO also intends to incorporate smaller regional presentations to maximize reach and enhance valuable face-to-face networking.
NCUA Examination Guidelines:
NACUSO members receive a NCUA Examiner’s Checklist to assist in self-examination of their CUSO. NACUSO maintains a library of legal opinions and comments related to CUSOs, issued by NCUA and other regulatory agencies.
CUSO Focused Legislative & Regulatory Advocacy:
NACUSO has become the leading CUSO Regulatory Advocate, addressing issues that affect both credit unions and CUSOs such as the MBL Cap, NCUA’s CUSO Regulations, NCUA’s Risk Based Capital regulations, etc. NACUSO is focused on ensuring that the credit union movement will be able to utilize and benefit from CUSOs for years to come, as unencumbered as possible. Guy Messick, an attorney with Messick & Lauer P.C. in Media, PA., has been the General Counsel to NACUSO since 1987. He has provided strategic planning and legal consultation services to hundreds of credit unions and CUSOs nationwide.
NACUSO will continue to have an active role in the regulatory and political action arena including:
- Developing a pro-active political action agenda
- Working with our Regulatory Action Committee comprised of interested members who make recommendations to the Board
- Having a Regulatory Action Committee liaison for each of the Advisory Boards in their specific subject areas
- Working with other CU trade associations to coordinate NACUSO’s efforts
- Seeking out a part time advisor and lobbyist to represent our interests before regulators and legislators
Limited Legal Counsel:
To save your organization time and money, NACUSO offers limited counsel on CUSO issues to members, providing valuable assistance by answering commonly asked legal questions. Many credit unions don’t have the resources to handle the demands from increasingly strenuous regulatory constraints. NACUSO is a respected, effective voice and advocate for a fair regulatory climate that permits credit unions to innovate and better serve their members. Through collaboration, NACUSO members and other experts on industry issues fight for what is best for the credit union industry.
NACUSO can refer you to a qualified source for information, saving you many hours of research when looking for information on Best Practices, Benchmarking, Industry Standards and other tools. Speaker materials and PowerPoint presentations are always available to members. That way, ideas, concepts, strategies and innovative products offered by industry leaders, experts and guests at NACUSO conferences are always at hand.
NACUSO’s Regulatory Updates and quarterly newsletters are sent directly to members’ email addresses, saving the time and trouble of searching for important information in multiple locations.
Annual Recognition Awards:
NACUSO recognizes outstanding CUSOs and a credit union each year with its CUSO of the Year, New CUSO of the Year and Credit Union Collaboration and Innovation awards. A panel of industry leaders and experts considers nominees for these prestigious awards.
Annual Corporate Membership:
The following business types should consider NACUSO membership and collaborative efforts in order to take advantage of our multi-faceted and continuously growing benefits:
- Credit unions
- Wholly-owned CUSOs
- Multi-credit union CUSOs
NACUSO membership is open to credit unions without established CUSOs. Your annual membership will more than pay for itself when you take advantage of NACUSO resources, networking opportunities, and collaborative events. E-mail Denise Wymore at Denise@nacuso.org for more info or simply complete the online form below. NACUSO memberships are corporate, and can be utilized by any member of your organization. Membership is open to all credit union industry participants. Your corporate membership is billed annually and provides you with many benefits. View NACUSO Membership Benefits Brochure