The CUSOs owned by the three corporate credit unions placed in conservatorship Sept. 24 remain open for business today.
This week, small corporate credit unions whose business models have historically depended upon U.S. Central FCU meet to hear from new providers.
Corporate credit unions that have historically depended upon U.S. Central FCU for products and services will meet in Las Vegas next week to consider pitches from new providers.
Prior to the early 1990s, the CUSO concept may have looked like this: a CEO of a small credit union picks up the phone to ask the CEO of a nearby, much larger peer for help with say, training.
Toxic assets, bailouts and stimulus are words we have heard almost every day in 2009 from the broadcast news outlets, on the Internet and in our newspapers.