Critical Thinking

Newest NCUA Proposed CUSO Regulation Will Likely Stifle Innovation

By Jeff Russell

Innovation is my passion and has been during my two decades of work in the credit union industry. In reviewing the NCUA’s proposed CUSO regulation, I am more than a little concerned about the impact that it will have on the ability to foster innovation in our industry. Ever since NCUA started dropping not so subtle hints about this change, I have wrestled with how these new rules would likely impact the ability to collaborate and create the necessary innovative member solutions credit unions need to remain relevant now and in the future.… Read more

Having CUSOs Is a Systemic Help, not a Systemic Risk

By Guy Messick

The National Credit Union Administration has made it clear that it has already concluded that credit union service organizations pose a systematic risk to credit unions, and desires to seek Congressional approval for vendor authority leading to the direct regulation of CUSOs. NCUA wants CUSOs to send balance sheets and income statements that NCUA will use to bolster its argument for regulatory authority.

We Have Met the Vendor and It is Us.

Recognizing the Re-Structure of the Credit Union Industry.

The credit union industry is going through a radical structural shift. Have you noticed?

The examination of long past historical events permits one to have a sweeping perspective. The big changes can be seen as being influenced and propelled by a collection of small events. People who live during historical changes may or may not be able to connect the dots and understand the significance of the small events at the time.… Read more

2008 NACUSO Collaboration & Innovation Award Winner Announced at NACUSO Conference

Las Vegas, Nev. (April 28, 2008) – The formal announcement of the 2008 NACUSO Collaboration and Innovation Award winner was made official today, during a general session special awards presentation, at the NACUSO 2008 Annual Conference in Las Vegas. The 2008 premier award winner was CU*Answers. Randy Karnes, CEO, accepted the award for CU*Answers, a one hundred percent credit union-owned CUSO located in Grand Rapids, Michigan, offering a wide-variety of services, including its flagship CU*BASE processing system, to credit unions nationally.… Read more

2008 NACUSO Collaboration & Innovation Award Winner Announced at NACUSO Conference

Las Vegas, Nev. (April 28, 2008) – The formal announcement of the 2008 NACUSO Collaboration and Innovation Award winner was made official today, during a general session special awards presentation, at the NACUSO 2008 Annual Conference in Las Vegas. The 2008 premier award winner was CU*Answers. Randy Karnes, CEO, accepted the award for CU*Answers, a one hundred percent credit union-owned CUSO located in Grand Rapids, Michigan, offering a wide-variety of services, including its flagship CU*BASE processing system, to credit unions nationally.… Read more