At year-end 2008, credit unions reported $1.12 billion in investments in CUSOs and 27.8% now participate in at least one CUSO, according to Callahan & Associates.
Callahan tracked the five-year average annual performance of credit unions invested in or with a loan to a multi-owned CUSO and those without through 2008. With asset growth, those with ties to a CUSO had 7.0% growth compared to 4.5% for those without an investment. Loan growth was 9.5% and 6.4%, respectively and member growth, 2.8% and 0.8%, respectively, according to the 2009 spring edition of Callahan's "Networks & Niches: A Guide for CUSOs and Their Partners."
Surcharge-free ATM networks and shared branching are among the most popular services offered by CUSOs, said Jay Johnson, executive vice president of Callahan. Over the last two years, the collaboration between credit unions and CUSOs has also helped to propel mortgages, auto loans, credit cards and student loans.
Nearly 30% of CUs Participate in CUSOs
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