Thinking back thirty years ago, a NACUSO conference was maybe 40 people if you count the waiters. Ninety percent of the CUSOs did investment services with broker/dealers in networking arrangements. The net interest margin in CUSOs was fat and that made credit unions happy. CUSOs were a little known oddity and not very important to the health of the industry. Today is a different story. With competitors crawling all over the Internet with convenient, frictionless services at competitive prices and with a nearly non-existent net interest margin environment, credit unions need help and they need help fast.
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