LIBERTY LAKE, WA – October 13, 2017
CU*NorthWest, the 100% credit union-owned cooperative CUSO, announced today that they will be attending the Washington, Oregon and Idaho Credit Union Leagues’ 2017 MAXX Conference in Spokane, Washington, as an exhibitor.
Read more on CU*NorthWest to exhibit at the 2017 MAXX Conference…
LIBERTY LAKE, WA – October 13, 2017
CU*NorthWest, the 100% credit union-owned cooperative CUSO, announced today that Western Healthcare Federal Credit Union in Concord, California, has signed a core data processing contract with CU*NorthWest, and is scheduled for conversion in April 2018. $41.5M Western Healthcare FCU was chartered in 1953 and currently represents approximately 3,500 members. CU*NorthWest is extremely pleased to be adding an additional California client.
Read more on Western Healthcare Employees FCU signs with CU*NorthWest…
It looks like Congress will put the Tax Code in play and while it is unlikely the credit union income tax exemption is at risk, credit unions cannot take this for granted. We must be careful not to let banks define credit unions when they lobby Congress.
Read more on Defining Credit Unions in the Upcoming Income Tax Debate, by Guy Messick…
By John Dearing, Managing Director, Capstone
The possibilities may be endless, but your resources are not. For many CUSOs with limited time and money, deciding which ideas to pursue can be a challenge. Here are three ways to prioritize your options for growth:
The best way to make sure you’re moving in the right direction is to take a step back from all of your ideas and begin by looking at your vision for your CUSO. Who do you want to be as an organization? When you have a clear picture of your goal in mind, it will be easier to visualize what steps you need to take in order to achieve it. Without a clear vision you could end up pursuing options that actually drag you in an opposite direction.
While it’s natural to be somewhat subjective, after all growth is exciting, you don’t want to make decisions based on emotions alone. Try bringing objectivity into your decision-making process by using tools to evaluate and compare your options. When it comes to external growth, CUSOs can use the Market Criteria Matrix to evaluate the best markets for and the Prospect Criteria Matrix to evaluate acquisition or partnership prospects. These tools can be adapted to evaluate any opportunity for growth.
Read more on Which Way? 3 Ways to Prioritize Your Options for Growth…
In speaking at various bank and credit union events about the banking of businesses that are cash intensive, or “Money Services Businesses” (MSBs), one common theme is clear: despite changes in the regulatory landscape, the process for banking MSBs has remained the same. As a result of systematic “de-risking,” MSBs across the country have been losing access to the financial system. But with a driving force behind de-risking, Operation Choke Point, now officially ended, it is time to assess the aftermath of de-risking, and specifically how financial institutions can service MSBs in this new environment. For this to happen, institutions must be ready to discard legacy concepts and practices associated with banking MSBs and embrace a new approach.
Read more on A New Approach to Banking Money Service Businesses (MSBs)…
