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The credit union industry has always been unique in its willingness to cooperate, but the need to collaborate today is undeniable. Beyond just sharing success stories and informal networking, there are tremendous advantages to operational collaboration. Lower costs, increased efficiency and a better, more comprehensive solution are just a few of the advantages for credit unions that choose to collaborate. With expense ratios on the rise and interest margins challenged, collaboration is a key way to compete with large financial institutions and increased regulatory scrutiny.

Peter Westerman

Credit Union Times

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