CU Vendors Take the Good With the Bad When it Comes to Consolidation
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."