We lose approximately 250 to 300 credit unions per year to mergers, liquidations, and conversions. Only a handful of credit unions have been formed in the last ten years that survive today. While I understand that credit union assets and members are growing despite the reduction in the number of credit unions, I submit that […]
We often talk about collaboration in the context of business and product development; however, collaboration can also play an important role in regulatory compliance. It is undeniable that the current regulatory climate is complex and can even seem insurmountable at times. It is showing no signs of slowing down and credit unions will have to […]
There are many reasons why a credit union would invest in a CUSO instead of providing the same services directly through the credit union. These reasons may be that the CUSO is a collaboration of several CUSOs to create economies of scale, that it would be too cost prohibitive to initiate the service from the […]
Many have heard that the NCUA is setting its sights on CUSOs because CUSOs are playing a more important and influential role in the credit union industry. You may have read the transcript of Chairman Matzâ€™s testimony before the Senate, or you are experiencing it first hand with a zealous examiner shining his or her […]
“We must all hang together or we will surely hang separately.” Benjamin Franklin uttered these words as he signed the Declaration of Independence and faced the wrath of King George. The colonies were at a crossroads. Despite divergent and competing interests, the colonies recognized that together they had a chance for survival and alone they […]
The vast majority of people who work at NCUA and the state credit union regulatory agencies fully appreciate that credit unions need economies of scale and more expertise in order to survive and thrive in today’s regulatory climate. Combining operational services can be very effective. Many credit unions have collaborated in such services as business […]
This is a 5:38 minute presentation on the basic rules of CUSO organization for those who are new to CUSOs. CUSO Basics from Messick & Lauer on Vimeo.
This is a 6:45 minute presentation on why credit unions should consider collaboration and CUSOs as part of their business model. Why Collaborate from Messick & Lauer on Vimeo.
This is a 5:19 minute presentation on the considerations in organizing and operating a CUSO owned by multiple credit unions. Multi-Owned CUSOs from Messick & Lauer on Vimeo.
This is a 5:32 minute presentation on the considerations in protecting the CUSO’s corporate veil so that an error in the CUSO does not adversely affect the credit union owners. Protection of the CUSO Corporate Veil from Messick & Lauer on Vimeo.