GRAND RAPIDS, Mich. — Given the marketplace unrest rolling throughout the industry, are the days approaching when CUSOs, many of which take pride in being 100% credit union-owned and served, will seek out more alliances with banks?

The consideration may be controversial, but discussions are happening on the possibility. NCUA regulations allow a CUSO to sell to nonmembers as long as at least 51% of sales are to credit union members. With that regulatory threshold in mind, Credit Union Times sought feedback from three proponents of CUSO collaboration to get their perspectives on partnering with banks and if such collaboration dilutes the movement’s competitive edge.

Randy Karnes is CEO of CU*Answers, a Grand Rapids, Mich.-based multi-solution provider with more than 165 credit unions in 16 states. Together, the CUSO’s clients represent nearly 1.5 million members and $10 billion in credit union assets. CU*Answers is the 2008 recipient of NACUSO’s collaboration and innovation award.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.