Callahan & Associates' 2005 Directory of Credit Union Service Organizations Shows Growing Clout of CUSOs
WASHINGTON - Callahan & Associates has published its 2005 Directory of Credit Union Service Organizations, and the data show the CUSO impact is growing in the wide variety of markets credit unions are involved in. The data collected is based on surveys returned to Callahan by credit unions. "Because CUSOs enable activity outside the credit union charter, there is little centralized information about their scope and activity. No source exists for all CUSO data," the report states. Based on its analysis of the data, Callahan concludes that "even with very limited data on all except the few largest CUSOs, it is clear that CUSO impact is growing. CUSO successes are becoming models for future efforts at creating strategic advantages for credit unions. In fact, CUSOs may be the key to future performance breakthroughs as well as responding to some of the challenges of growth and narrowing margins facing most credit unions today." Among some of the top line findings: * at June 2005, 1,618 credit unions reported either a loan to or an investment in a CUSO. * the total of all credit union investments and loans to CUSOs is over $650 million. * a total of 620 wholly-owned CUSOs are listed and 138 multi-owned CUSOs are listed. Copies of the 2005 Directory of Credit Union Service Organizations can be ordered through Callahan's Web site, www.creditunions.com.