CUSOs and vendors agree that mergers in the credit union industry continue to have an impact on their business models, but it's not necessarily a negative one.
"There are fewer potential clients, but there are bigger potential clients," said William McGuire, CEO of McGuire Performance Solutions Inc. in Scottsdale, Ariz. "There's a zillion credit unions out there, but so many are so small they're too little to afford some services. Overall I think the trend is going to be positive. We sell technical solutions. I can get down to a certain price but not to the point a $10 million credit union can afford."
Progressive credit unions are more likely than conservative credit unions to invest in a CUSO. Therefore, in most mergers, the surviving credit union is more likely than the credit union that merged into it to have a CUSO and to continue to invest in CUSOs, said Dennis Dollar, principal partner for Dollar Associates LLC in Birmingham, Ala.
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