LAS VEGAS — For their innovations and collaboration with others in the industry, CU Direct Corp. and Twin Star Credit Union were named this year's NACUSO Collaboration & Innovation award winners.
The Ontario, Calif.-based CU Direct is the parent company of such brands as CUDL, Lending Insights, and Lending 360. Indirect lending brand CUDL works with more than 1,050 credit unions and 9,000 dealerships nationwide, according to the company.
Accepting the NACUSO CUSO award for CU Direct at the Thursday session in the Encore Las Vegas was its president/CEO, Tony Boutelle.
"CUSOs are really the ones that make credit unions better," Boutelle told the audience at the trade group’s annual conference. "I believe we need to own and control our delivery channels."
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NACUSO awarded an honorable mention to Advanced Fraud Solutions LLC, a fraud and risk management CUSO based in Greensboro, N.C.
It was a complete surprise to Jeff Kennedy, president/CEO of the $860 million Twin Star Credit Union in Olympia, Wash., when it was announced that his cooperative had won the NACUSO Credit Union of the Year award.
He said he was totally unaware that his colleague, Mary Beth Spuck, chief administrative officer at Twin Star, had submitted the entry form to NACUSO.
"It's a tremendous honor to be recognized," Kennedy said, still surprised at winning.
Twin Star launched its first CUSO in 1982 to address data processing needs, Kennedy said. Today, the credit union is the sole owner of two CUSOs and one of several owners of five CUSOs.
NACUSO awarded an honorable mention to the $2.2 billion Bellco Credit Union in Greenwood Village, Colo.
Prior to the award presentation, Pete Snyder, who served on NACUSO's board from 1998 to 2012, was honored for his contributions. Snyder is the former founder of Snyder Consulting Solutions, a firm that was sold to management consulting firm Kehrer Saltzman & Associates in January.
Snyder was hired in August 2012 as vice president of financial services at the $8 billion Golden 1 Credit Union in Sacramento, Calif.