Collaboration is the best strategy for creating efficiency, enhancing the member experience and competing in the marketplace.
HRBs could bring in a 15% return per account, but the need for increased security could pose challenges.
Like their credit union clients, some CUSOs have rebranded their organizations to meet growing marketplace demands.
CUSO leaders say vendor authority would lead to increased costs and more bureaucracy.
The OCC appears to be more supportive of collaboration than the NCUA, NACUSO CEO argues.
Keep an eye on incremental changes and tweaks affecting patchwork of state regulations.
From the implementation of new rules that call for additional reporting requirements to risk-based capital worries, CUSOs had a tumultuous 2014. With advocates vowing to keep the pressure on in 2015 to ease regulatory scrutiny, credit unions are forging ahead with new alliances to stay competitive.
This year has been an exciting and pivotal year for CUSOs as they continue to be an incredibly important part of the credit union industry.
Peer-to-peer lending is growing at an average pace of 84% a quarter.
CUSO consolidating two Detroit centers into one.