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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. The good news is that CUSOs, and credit unions, generally, were not heavily involved in the types of products that caused the problems, nor do we deal much with products that weren’t regulated before and now are. We maintain strict compliance procedures. More important, CUSOs are just what our name implies-service organizations that serve the nonprofit credit union industry, and we know that to serve credit union needs well, we must function as partners and be a resource for credit unions to grow their businesses even when economic times are challenging.

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Peter Westerman

Credit Union Times

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