SERVICE PROVIDER Policy
A. Philosophy Re: Service Providers
Creating beneficial and effective relationships with Service Providers is essential to the successful operations of the Credit Union. Service Providers enable the Credit Union to be able to provide services more efficiently and effectively and to provide valuable financial services to members that cannot be offered through the traditional credit union model. The Credit Union will evaluate its internal resources and determine whether there are strategic and/or business benefits to using Service Providers for specific services. The Credit Union desires to work to create long term service partnerships with trusted Service Providers that are mutually beneficial. Some of the Service Providers used by the Credit Union will be credit union service organizations (CUSOs). The issues the Credit Union will consider prior to investing in a CUSO are set forth in the Credit Union’s CUSO Investment Policy.
B. Background and Purpose of Policy
The purpose of the Service Provider Policy is to provide guidance to the Credit Union in considering, selecting, implementing, monitoring and managing service partnerships in order to enhance the success of the service partnerships.… Read more
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. They are so rooted in their past experiences that they are blind to the major shift that is taking place right in front of them.… Read more
Las Vegas, Nev. (April 29, 2008) – During proceedings at the NACUSO 2008 Annual Conference in Las Vegas, Tuesday, April 29, Mountain America Credit Union and TruHome Solutions, LLC donated $5,000 each, providing a total $10,000 contribution for the recently launched “BUY CUSO” advertising campaign. The BUY CUSO advertisements started April 28 on several trade publication Web sites, and will continue in printed trade publications and online.
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Las Vegas, Nev. (April 30, 2008) – The concluding general session of the NACUSO 2008 Annual Conference was held Wednesday, April 30, at the Wynn Las Vegas Hotel. NACUSO General Counsel Guy Messick, attorney, Messick & Weber P.C., Media, Pennsylvania, presented his thoughts on complying with the NCUA’s Letter to Credit Unions requiring credit unions to evaluate third party relationships. Messick noted that NACUSO President Tom Davis serves on the CUNA committee looking at the issue.
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At BSC in New Orleans we formed a consensus. We want NACUSO to help us connect with each other, provide advocacy and industry leadership, keep us informed of regulatory issues, etc. We also identified some areas we wanted to work harder on relative to collaborating together: SBA Lending, Collaborative Underwriting (sharing expertise), Credit Union Training. Most importantly, we realized that NACUSO is not “they”, NACUSO is “we”. What are WE going to do to move forward on these issues. … Read more