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LAS VEGAS — Striking a balance between credit unions wanting to be innovators for their members and ensuring that those efforts don’t create risky safety and soundness issues is achievable, NCUA board member Gigi Hyland recently assured.

At a keynote session at NACUSO’s annual conference, Hyland provided NCUA’s perspective on some of the more timely issues concerning CUSOs including the regulator’s letter that addresses examiners delving into credit unions’ relationships with third-party vendors, such as CUSOs. The guidance, she said, is a common sense approach to ensuring that credit unions are implementing due diligence not only during the search process but throughout and after the contract has been signed.

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