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For more than 25 years, Guy Messick has seen firsthand how CUSOs have generated and contributed millions of dollars of net capital per year to the credit union industry.

As an attorney, Messick represents CUSOs and credit unions and serves as general counsel for the National Association of Credit Union Service Organizations and principal in Messick & Lauer P.C. in Media, Pa. When the NCUA delivered what he called a one-two punch to CUSOs in November 2013 and January 2014 with the revised CUSO rule and the proposed risk-rated capital rule, he was more than concerned that the regulator had labeled CUSOs as a systemic risk to credit unions.

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