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What are CUSOs doing?

first_imgWhat are CUSOs doing? This is a very common question I hear from credit union and CUSO folks. From our vantage point of working with NACUSO and working with hundreds of CUSOs in the past 30 years, we have a unique perspective to know the CUSO universe. Even NCUA used to call us on CUSO industry questions from time to time. Now that CUSOs are becoming an essential part of the credit union business model, existing CUSOs are being asked to provide more services and new CUSOs are being formed. Will there ever come a day when we have more CUSOs than credit unions…maybe?Since the role of CUSOs is becoming so important to the success and survival of credit unions, NCUA saw the need to know more about CUSOs. While NACUSO and NCUA had differing views on whether CUSOs could be required to report directly to NCUA, the silver lining is a better knowledge base about CUSOs.The good news is that the NCUA’s CUSO Registry is a searchable data base and it attempts to be as comprehensive as possible.   The bad news is that NCUA does not share much data… only the CUSO’s name, address, telephone number, web site and services.  CUSOs were nervous about NCUA sharing their proprietary data and NCUA erred on the conservative side. continue reading » 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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